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#grownostr
"10 common small business mistakes"
1. Leave the customer in the dark. Chances are as a small business you are providing a niche product or service. If you leave them guessing, they will guess their way right out the door.
2. Clean and paint. As a small business, it is likely you already have a subprime location. Show you care about it. It will feel more welcoming, and your product or service will be perceived as higher value and frankly, probably actually is.
3. Outside services. This can go both ways, sometimes people underutilize resources, other times they over utilize them. As a rule of thumb it is something you do and time that is otherwise wasted, you probably want to keep it in house. If it is something that is done when you are the busiest you may want to outsource it. If it is essential to your business, you probably want to do it in-house or in close partnership with a highly trusted partner.
4. Cash flow. You need enough money to smooth out the bumps. This means keeping lines of credit, having cash reserves, or in some cases inventory or assets that can be quickly moved. In hard economic times, this one is especially important.
5. Human energy. Lethargy kills small businesses. Not everything has to be done at high speed, but you want people who are interested, engaged, and energetic in your business. This especially includes you. This does NOT exclude people who have disabilities. Do your best to get and stay healthy. For solopreneurs, your physical, mental, and emotional health and vitality may be the single biggest factor in the success of your business.
6. Listen and engage with your people. This includes customers, vendors, suppliers, service providers, etc. Be "stuck up", and you will be stuck alone.
7. Respect. Some would read this as love. Appreciate the people who make your business a success. Never talk down people who make you a success. People feel this deeply even though they often won't put it into words.
8. Know your business. Whatever business you choose, be that, and understand it. If you sell hamburgers, sell hamburgers and know what's in them. If you sell cars, know what you have on the lot. Track and understand your financials. Small business owners sometimes get lost in the busy-ness or minutea and forget to actually run the business.
9. Advertising and publicity. This is your chance to make a first impression. You may feel like it's the tenth or hundredth impression, but when you finally make an impression, it will feel like a first impression to them. Show them you care and are happy to see them. If they can't find you, you don't exist.
10. Organization. Doing business with you should be smooth. Some small businesses have a relatively long sales process, there's nothing wrong with that, but don't let it become chaotic.
Bonus: Treat everyone well including yourself. Temporary personal sacrifice is acceptable, business martyrdom is not. To fulfill this last mission, you actually have to get out there and do the work.
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