Beginning from startup to a successful business is a tricky track filled with hurdles and sheer obstacles. Entrepreneurs are most vulnerable to pitfalls in the initial stages and it becomes challenging to survive in the competitive business market. A small mistake could sabotage your business project and turn it into a huge loss.
Here are 9 common mistakes that could cause failure to your new business venture. Make sure, you are not making one.
- Assuming the customers too early
Is it good to judge a customer’s intention before he even makes up his mind to buy something? – Definitely not. It is considered as one of the silly mistakes, committed by people at an early stage. If you are a business minded person, it is imperative to understand each customer before you expect a sale. You should be mentally prepared to contemplate the reason if there is no single sale. Try to establish strong relations with potential customers by learning more about their interests and requirements. Keep your assumptions aside while doing a business.
2) Late follow up with customers
Sustaining a business enterprise in a fierce competition is not a child’s play. It is a troublesome grindstone and can cause mishaps in no time. Whether you have an online business or not – customers expect a super-fast response for their queries. Understanding the significance of potential customers, no intelligent business person would even think about losing a customer because of late services. An immediate and prompt reply would leave the impact that you are available to offer 24/7 customer support.
Remember, business competitors always plan to attract your clients with deals, discounts, and offers. Don’t ever let your customers flee for any reason.
3) Establishing false assumptions about rude customers
How often have you met rude or straightforward customers?
Many, many times right?
Dealing with customers will let you know the different nature of human beings. Some buyers can be really interrogative or also irritating. They might ask you every silly detail, though it is clearly mentioned. Sometimes, they even ask your personal reviews. Don’t ever assume their intention. Maybe, they are just too conscious about products and are interested in knowing everything.
The basic purpose of the seller should be to keep an eye on the sales pitch, rather than the rudeness of customers. You need to develop such skills to satisfy a customer through a positive attitude and a responsive behavior.
Some people are just too honest to ask anything. Play your role and let them play their part.
4) Hovering over Borderline Arrogance and Plain old Rude
One of the most obvious foolish mistakes business person make is their bossy and detached attitude. A number of business owners believe that haughty personalities are more successful and can drive attention. In order to develop a positive and longing relationship with customers, the only key is to show care, interest, and gratitude. Your business would only lead to success if you have a friendly brand and trustworthy customers. The idea to achieve reliable customers can be realized by expressing concerns, not being arrogant.
There should be no gap for the word ‘arrogance’ in dealing businesses.
5) Knowing your staff, but not believing them
If you are running a business enterprise then your employees are those remarkable cogs in your business, these are your resources who can turn your small startup into a leading business. The core part of strengthening your business is to make a trustworthy relation with the staff members. A lot of business persons commit this unreasonable mistake of not trusting their employees. It can cause a major failure to your newly established business.
There should be an adequate training and proper guidance for the staff. A review plan should be followed to ensure the performance of the staff and the committee members, who are responsible for solving the issues of the staff.
6) Expecting perks of flexible hours
The day, you’ve jumped into the business it has become your ultimate duty to keep things flow. Continuity in product dealings will only bring notable outcomes. And, progress can only be accomplished through working day and night. Being a business person, you’ve to work through the thick and thin. There are no flexible hours in businesses. Any customer can send you an email inquiry about the latest products. Your staff member can also approach you in late hours for an unusual accident. Become active, responsive and alert to keep a check on every minor activity.
7) Delayed decisions
If you have studied business communication, you must have realized the power of decision making. Your all efforts would go in vain if you do not have strong decision power. Businesses are based on everyday decisions. An entrepreneur should have the courage to take prompt and immediate decisions. There is no gap for delays in making conclusions. If you’re planning to hire an intelligent virtual assistant who could handle all the back end work then you must take the decision right now. Quick, fast and determined people do businesses. Remember!
8) Ignoring contact information details
Another mistake that could bring damage to the reputation of your business is the incorrect placement of contact information. Yes, it makes a huge difference. People get disconnected when they are helpless in finding the contact numbers on websites and emails. One of the fundamentals should be to provide a convenient way so that customers get an easy access to company’s address, email, contact number etc.
9) Compromising on quality marketing material
You must be accountable for loss if you are meaningfully using poor marketing material and techniques. The quality of content either words or images reflect the standards of your business project. Customers make their purchasing decisions on the content, you update. Most importantly, there should be no compromise on high-quality marketing material.
The foremost thing in running your business smoothly is to learn from mistakes. Your company or project can only survive in the thriving market, if you have a tendency to accept blunders and implement techniques to fix the errors.