4 Mistakes Small Business Owners Should Avoid
We devote a lot of time sharing what to do to make your business more successful. This month, we’re sharing four things smart business owners should avoid doing!
1. Having an Incomplete Business Plan
If you don’t know where you’re going, it’s hard to know when you’re there! Even if you’ve been in business for years, it’s wise to revisit or complete a comprehensive plan for your business. Do you want to grow? Does your business plan include strategies for growth? Do you have a clear mission and vision statement to help guide your decision making? If not, it’s never too late, and it’s worth the time investment in the long run.
2. Trying to Grow Too Quickly
Growing your business is a great goal. Unless, of course, you are not prepared
. Make sure you have a growth plan to keep your business running smoothly and avoid burning yourself out. Can your budget support your rate of growth? Do you have the staff needed to support your growth? Can you sustain the pace required? Prepare and plan for growing your business so you control the workload. You don’t want the workload to control you!
3. The Owner Trying to Do Too Much
As a business owner, it’s tempting to control every aspect of the business. Understandable. Nobody cares more about your business more than you. The reality is, if you try to do everything, it becomes hard to do anything really well (at least for the long haul). Successful business owners find ways to delegate appropriate responsibilities to those around them. Identify and enable your crew leaders to actually lead.
4. Ignoring or Downplaying Customer Feedback
This may seem obvious, but you’d be surprised how many businesses fail to optimize their greatest resources – their customers! Make a point of actively seeking customer feedback, then use it to improve. While the customer may not always know best, they certainly have valid opinions and thoughts about the work you’ve done. Pursue customer feedback, consider it, and, when necessary, adapt.