5 Mistakes Businesses Make

With the beginning of the year and many people having already given up on their resolutions, I thought it appropriate to talk about mistakes, especially a few key ones people in business make (these are only a few, there are many).

1-speed.  I don’t know too many people who don’t enjoy speed once in a while.  Whether it’s a motorcycle, flying a plane or a fast roller coaster, there’s something thrilling about going fast.  However, in business speed is a double-edged sword.  Yes, you want to get to the market so your product or service isn’t beat by someone else, but at the same time if you go in too quick you’ll be laughed at for your less-than-ready product or service.

2-fear.  Fear is a powerful tool, motivator, and killer.  It can bring you to the greatest success or biggest failures of your life.  I’m not suggesting you always have to overcome your fears, but with a bit of study on the risk and reality of that fear you can decide if it’s holding you back from success or not.

3-jumping the gun.  Yes, sometimes you just know that something is a perfect match.  But all too often we jump in with both feet before doing the research or reading everything.  Check out the instructions, talk with people to see if you’re a good match, find out the whole deal before you talk money or contracts.

4-ignorance.  This is a big issue for a lot of people and companies.  However, ignoring the problems won’t send them away, nor will being ignorant of what you do/don’t know.  This means you need to talk to people, be aware of the money situation, find out what’s going on, find out what people are looking for, and find out what’s really selling.

5-sales.  I’ve said it before and I’ll say it again: the bottom line in business is not the money but the people.  Behind each and every dollar are people, many people who are impacted by the money spent.  Just because you have an online business doesn’t mean that the money is any less personal or connected to a person.  There is always a person on the other side of the money.

In the future we’ll cover more, if you have a specific mistake (mentioned here or not) that bothers you, share in the comments.

One thought on “5 Mistakes Businesses Make

  1. These are some really great tips. There are certainly a lot of variables to consider when starting a small business and many pitfalls to watch out for. One of the most important aspects of small business management is analyzing company performance. Doing so regularly will help to avoid a lot of mistakes and keep you informed so you can make wise decisions.
    Thanks for the informative post.

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