9 Business Fundamentals

Building a successful business requires understanding and executing key operational processes. These include everything from attracting paying customers and managing finances to recruiting talent and ensuring legal compliance—each is crucial for long-term sustainability and growth.

1. Sales and marketing processes

2. Paying customers

3. Accounting and bookkeeping

4. HR processes, including payroll

5. The ability to recruit and manage employees

6. Insurance, including CGL and WC

7. Tax compliance

8. IT management

9. Legal and regulatory compliance

Mastering these business fundamentals will create a strong foundation for your company’s success. By effectively managing sales, finances, employees, and compliance, you'll position your business for growth, stability, and resilience in a competitive market.