Having to run a small business can be very difficult and demanding. You will have to become an all-around player who knows marketing, sales, customer service, database management and everything else in between. Someone will say that it is not necessary to know all of these things, however, if you really want your business to grow and prosper, then knowing is a must. Running your own small business can cause a lot of distractions and that’s why it is important to have a cool head and focus all of your energy on the things that really matter. Since you are the one who has to be the Jack of all trades, it is very likely that mistakes will occur, and this is only natural. However, mistakes made along the way can jeopardize the long term credibility of your organization and cause it to go under. We have identified the most common mistakes small business owners make which you should definitely look out for.
Not making a plan
Small business owners usually start their organization out of passion, which is good. However, passion alone will not get you where you want to be. In order to be an independent entrepreneur, you will need to have ambition and courage to take risks. If you want to make money, then it is essential to build a good plan. Having a strategy for every situation is crucial to the success for any organization, no matter how big or small. Devote time once a year to review your organizational goals and strategy and by doing this, you will check if the organization is heading in the right direction. Running a business just out of fun and passion is not enough and it will result in a very short run. Write down the goals of your company and assign them to someone who is obligated to achieve them. If you do not perform these actions, after some time has passed, the people at your organization will lose track of their goals and the performance will stagnate.
Not having a website
Small businesses have a limited budget, and because of this, it is harder for them to advertise their work and reach their potential customers. This is why it is very important to have an online presence – a website. Many people use the internet and some of them are your potential customers who can find your products or services online, so not having a website will make you miss on a lot of money. Building a decent website is a small investment that will do a lot of good things for your business. Compared to investing in newspaper or TV ads, it is much more cost effective. Over 90 % of internet users have a habit of buying products online and, with this in mind, it is impossible to think that your business doesn’t need a website. It can boost your credibility (especially if it looks nice) and make people take you more seriously, which can later result in them buying something from you. Creating a website is not as hard as many people think. The crucial thing is to get good web hosting and a catchy domain name.
Not utilizing on your strengths
In the past, small businesses were ashamed of their size and they wanted to look bigger than they are. Things have changed and now, big companies want to look small. Why, you ask? Large corporations have become heartless and they treat their customers like numbers without any “soul.” Customers want to be flexible with their service and they enjoy having personal attention. This is something that small businesses can offer and usually have. It is something that you should use in order to build close relationships with costumers and they will come back to you again in the future. If you work closely with people and meet their demands, they will have no reason to go to someone else.
When you are in the thick of it, feeling like the ground beneath you is burning, remember that many others have gone through this. Reach out to other owners and share your experiences and problems. By doing this, you will learn from each other and lighten your load.