This is the second article in a three-part series about how getting back to the basics can help your business succeed. In this installment, learn how to focus on what you can influence rather than factors outside your control.
Author: Jacob Lombardelli, Small Business Senior Advisor
Small business ownership comes with plenty of uncontrollable forces: market fluctuations, interest rates, competitor moves and economic uncertainty. Trying to manage these external factors can drain energy and cloud your judgment.
The key is to focus on what you can influence. At FNBO, we help owners distinguish between uncontrollable pressures and areas where decisions can directly drive results. By maximizing your influence over controllable factors, you create stability, reduce stress and build a stronger business.
Top Areas You Can Control
Organizational Systems and Processes
Disorganization consumes mental energy. Scattered paperwork, unclear procedures or inconsistent record-keeping slows decision-making and creates stress.
Creating structured systems; like standardizing how invoices are processed, tracking inventory efficiently and maintaining clear records; can reduce errors and give you confidence to act quickly.
Strategic Use of Business Lending
Many owners avoid borrowing, even when qualified. Strategic lending is a tool that can preserve cash and fuel growth.
For example: Instead of using $50,000 in cash to buy new equipment, financing the purchase allows you to keep reserves for emergencies, seasonal fluctuations or expansion opportunities. Borrowing strategically can provide flexibility and financial resilience.
Real-Time Financial Visibility
Operating with outdated or incomplete data limits your ability to make informed decisions. Maintaining current financials gives you a dashboard for your business. It allows you to:
- Identify profitable products or services
- Spot problems before they escalate
- Make growth decisions based on actual performance data
- Recognize seasonal patterns and plan accordingly
Banking Relationship Development
A strong banking relationship is a strategic advantage. Your banker can:
- Provide industry-specific insights
- Recommend tools and products to optimize cash flow
- Connect you with growth opportunities
Distinguishing Controllable vs. Uncontrollable Factors
- External pressures: Economic conditions, competitors, regulations and natural events — largely beyond your influence.
- Internal factors: Operations, cash flow, marketing, customer service and company culture — fully under your control.
Spend 80% of your energy on controllables. Handle these well and external challenges can become more manageable.
Actionable Tips
- List your internal and external pressures. Focus on what you can control first.
- Streamline operations to reduce wasted time and errors.
- Schedule regular financial reviews to stay informed.
- Use lending strategically rather than reactively.
- Treat your banker as a partner, not just a utility.
Successful business owners aren’t trying to control the uncontrollable. They maximize what’s within their influence.
Three-Part Series About Getting Back to Basics:
- Read Part One: Part One: Simplify Your Finances
- Part Three Coming Soon: Discover how banking structures and cash flow strategies can stabilize your business and reduce financial stress.
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.
