Avoid These 6 Small Business Mistakes

Taking a breather from shipping orders to share a wonderful article I read a few months ago on The Mogul Mom website.

Many folks take time at the end of the year or the beginning of the next to think about their next steps in building or starting their business. So, actually, this is perfect timing to share the article by Natalie Akalp.

6 Terrifying Small Business Mistakes (and How to Avoid Them)

1. Not Marketing Your BusinessAvoid These 6 Small Business Mistakes

If you’re like many business owners, you think marketing isn’t worth the time or money investment. After all, you’ve got customers coming in the door, so why waste money on trying to attract more?…Marketing not only helps more potential customers find you, but it also helps you stay connected with existing customers.

2. Ignoring What’s Being Said About Your Brand Online

Another ghastly mistake entrepreneurs make is not being aware that there are many channels online that people use to talk about brands like yours…and sometimes not for the better. Social media is a great example. If a customer had a bad experience with your company, it’s easy to tell her network all about it…. set up a search for your company name and respond as soon as there’s any mention of your brand, for better or worse.

3. Not Reinvesting in Your Business

Every extra penny you make, you take as your salary. … Setting aside even a little can give you enough foundation to try out new software programs, invest in training that will expand your skills, or even hire help.  Start by putting just 15% of your profits …

4. Thinking You Can Do It All

…By not asking for help where you need it, you’re stunting your own professional growth. Ask for help! Whether that’s hiring a part time assistant, asking your husband to stuff envelopes, or asking the babysitter to take the kids an extra afternoon, don’t be shy about calling in reinforcements.

5. Fearing Change

Change is the nature of business, and if you avoid it, you’ll pay the price with reduced market share and loss of customers. Change — often in the form of technology — is what keeps you competitive.

6. Forgetting Your Business Plan

Without a glance at it every once in a while, you can’t ensure you’re still on track with the goals you initially set. Keep your business plan handy and review it every month or quarter. Amend it as your company objectives shift.

Sound advice!  As soon as business slows down, I am going to review these tips myself to see where I can implement them.

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