The business sector can be brutal particularly to the small
businesses. The dominating large and successful businesses might overshadow
those upcoming small businesses leading them into extinction. The key for a small
business to co-exist and compete against the hostile business giants is to place
policies and procedures aimed at improving the business.
Handling customer
complaints, increasing sales, marketing, team management
and advertising are just some of the related areas for developing efficient
policies and procedures.
However, mistakes can compromise all the efforts made
to keep small businesses in play. Some of the common mistakes that are made by
small business. and how they can be averted are;
·
Lack of
trust
Trust is the backbone of
every business. To secure small business development, small business owners
must trust their employees (and vice a versa). Due to fear of failure, or occurrence of an unexplainable
situation causing small business to deteriorate,
owners may disengage their trust with their employees. This will make them focus on overseeing every move that their employees make and the business owner becomes a micro-manager, not good for anyone especially for the growth of the company. If you cannot trust the people
you hired, then the business can easily become stagnant. Learn to trust your team.
·
Failure
to find your niche
Small businesses can be flexible, since they are mostly
starting out. Business owners fail to specialize on what they are good at. The
fact that small businesses are flexible does not mean that you should try all
the niches. Find your niche, one that you can thrive at, then invest in it. Know
your target audience and largest customer base so as to strategize how to
attract more customers and distribute your product to your very specific audience. In other words, know your "avatar".
·
Avoiding professional
help
Small business owners may prefer handling all the issues on their
own due to factors such as inadequate funds. This leads them to multitask even
in the areas they do not excel in. Why try web design if you are not 100%
certain that the site will lead to the greater good of the business? The only
way out of this mistake is to evaluate the cost and the benefits of hiring a professional
to help. Professionals are skilled at what they do, and therefore can do a better
job than you can. It is better to incur an extra cost which will lead to your
small business development. So, stick to what you are good at, and let professionals help you with what they excel at.
·
Inability
to communicate
Coming up with an idea on how to expand your business is
easy, but conveying it might be a challenge. Some small business owners do not
know how to effectively share information in a manner that their employees can fully understand. The
solution to this is to compose oneself and give clear, concise and precise
direction. Always ask for feedback, and ensure that your messaging is accurately received and understood.
·
Lack of
proper marketing
There are many marketing strategies, which often small businesses
are not too quick to use. However, without
proper utilization, their marketing strategy fails. Bringing on an expert on marketing
can benefit your business in the long run. Hiring a professional marketing or business consultant can put your business lightyears ahead compared to if you don't hire one in the first place.
If you are a small business trying to make it, evaluate your
business and correct any of the above mistakes that you may find. Here's to your success!
Tucson Accounting, Bookkeeping, and Business Consultants Experts
145 E. University Blvd., Suite 1A
Tucson, AZ 85705
145 E. University Blvd., Suite 1A
Tucson, AZ 85705
(800) 272-4005
