Content
What's Holding Your Business Back From Growing: 7 Major Mistakes
19.08.2024 20:15
Starting your own business is only half the battle.
It is much more important in the process of developing your business to avoid serious mistakes that can destroy it.
Limited budget for renting premises
To rent premises for an office or a store, an entrepreneur allocates a budget equal to the amount of rent for one month + a deposit, hoping that in a month he will be able to earn good money, which will be enough to pay for the rent of the premises, salaries of employees and other expenses.
But it is simply unrealistic to reach a good income in just one month. Accordingly, the money earned in a month may not be enough to cover all expenses. And if you have nothing to pay for rent, you will have to look for another place.
Unprofessional staff
To save on wages, some entrepreneurs hire salespeople who have absolutely no knowledge of the product. This primarily concerns sales consultants for household appliances.
Accordingly, a person who is not in the know will not be able to clearly answer the questions of interest to buyers.
As a result, the buyer will be forced to go to competitors. To avoid this, try to hire specialists not only with a special education, but also with extensive work experience.
Poor service
If the quality of service leaves much to be desired, then you risk losing your customers soon. This means that the number of sales and income will decrease.
To prevent this, try to pay special attention to the quality of the goods, prompt and high-quality delivery and customer service. After all, it is very easy to ruin your reputation, but it will be difficult to fix it later.
Office/store location
When choosing premises for an office or store, many entrepreneurs pay attention to the location - transport accessibility, street traffic, convenient access, parking.
Yes, these parameters are certainly important. But do not forget about competitors. After all, if your competitors work near you, it will be difficult to lure customers to yourself. Therefore, before renting a space, make sure that there are no competitors within a radius of 500 meters.
Limited budget for purchasing goods
Saving on purchasing goods will not lead to anything good. Buyers prefer stores with a large assortment of goods that are updated daily.
Therefore, even if you have a very limited budget, in this case it is best to purchase goods in small batches, but of different names.
Courses for entrepreneurs
On the Internet, you can often find tempting offers - courses for entrepreneurs, thanks to which you can literally increase the number of sales and income in just a few weeks, as well as learn a lot of interesting and useful information from professionals.
And many newbies fall for this and pay a lot of money for courses, which they could have invested in their own business.
But in most cases, such promising courses do not give anything, since they consist of recommendations and so-called secrets, which can be easily found on the Internet in the public domain. As a result - money down the drain.
Incorrectly chosen business niche
Some entrepreneurs believe that if a product that has recently appeared on the market enjoys great success, then it means that they can make good money on it.
In fact, this opinion is wrong. Yes, fashionable new items are sold out instantly. But do not forget that as soon as the fashion for them passes, they will no longer be in demand.
Therefore, when choosing a niche, it is best to give preference to a product that is constantly in demand - these are clothes, shoes, children's goods, household appliances, cosmetics, and others.
Earlier I talked about why an employee deliberately provokes a conflict with his superiors.
