This is the first article in a three-part series about how getting back to the basics can help your small business succeed. In this installment, we're focusing on how to simplify your finances and take control.
Author: Jacob Lombardelli, Small Business Senior Advisor
Running a small business can feel like juggling dozens of priorities at once. Cash flow, payroll, taxes, client demands, and unexpected challenges all compete for your attention. When things start to feel overwhelming, the best step forward is often the simplest: get back to basics.
At FNBO, our Small Business Advisory team can help owners simplify their operations, regain clarity, and focus on what truly drives growth.
Maintain Clean, Current Financials
Getting back to basics starts with financial clarity. Every business owner should have:
- Year-to-date profit and loss statements showing revenue trends and expense patterns
- Current balance sheets providing a snapshot of financial health
- Real-time visibility into sales performance and profit margins
This isn't just about having numbers on paper, it's about truly understanding what those numbers tell you about your business. This essential knowledge increases the chances of obtaining business lending and makes it easier to file taxes at the end of the year.
When you know exactly where your business stands financially, you can make strategic decisions quickly and confidently.
With accurate financials, you can:
- Identify areas of profitability and inefficiency
- Make faster, more informed decisions
- Simplify tax preparation
- Strengthen lending applications
Understanding your financial health empowers you to proactively manage your business, rather than constantly reacting to surprises.
Focus on Fundamentals When Overwhelmed
Every business owner faces moments when the weight of responsibility feels crushing. Cash flow tightens, markets shift, or unexpected challenges emerge. In these moments, it's important to know that you don't have to navigate alone.
While you're undoubtedly the expert in your industry and business, there's an entire ecosystem of professionals designed to support you through challenging times. The key is recognizing when to lean on their expertise rather than shouldering every burden yourself.
At FNBO, our small business advisory team understands that banking relationships extend far beyond deposits and withdrawals. When you're feeling overwhelmed, we're here to listen and help.
A simple call with a banking professional can:
- Provide perspective on financial challenges
- Reveal tools and solutions you may not have considered
- Find ways to optimize cash flow during tight periods
For example, specialized lending products can bridge gaps between project expenses and customer payments, or smooth seasonal fluctuations. Often, relief comes not from a single solution, but from having someone understand your situation and guide you through available options.
Beyond a banking team, other experts such as CPA's, business coaches, and industry mentors can provide support.
How It Comes Together
Many small business owners initially believe their business is struggling due to cash flow challenges. For instance, a landscaping company might thrive in spring and summer but face slower months in winter. The owner might assume banks wouldn't lend during seasonal slow periods.
With the right guidance and financial solutions, businesses like this can:
- Smooth cash flow across seasonal fluctuations
- Build reserves during peak months
- Access financing to purchase materials without depleting cash reserves
This is the power of getting back to basics: clarity, structure and access to the right tools can transform stress into actionable solutions.
Actionable Tips
- Review your Profit & Loss and Balance Sheet monthly at the least.
- Separate personal and business finances to simplify reporting.
- Identify your cash flow gaps and consider products that bridge them.
- Keep a running log of revenue and expenses to spot trends quickly.
Simplicity and clarity are the foundation for business success. By focusing on the basics, you gain control, reduce stress and make smarter decisions. And when you need additional support, contact our small business senior advisors.
Next in the series: Learn how to focus on what you can control to reduce stress and improve business performance.
About the Author
Jacob has always been interested in business, from understanding why some succeed to brainstorming new ideas. It brings him great pride to help small business owners manage their operations and achieve their dreams.
