Throughout my years in business, I've made my share of mistakes. Below, I’m going to share "6 Business Mistakes To Avoid." I’ve always felt that I learn more from my mistakes than from my successes. Therefore, I’m hoping that by sharing you will learn something too!
1. Underestimating the competition
Competition is out there, we all know that much. They are a fact of life in business. If your business can’t compete with other businesses, don’t start it. You have to have some type of an edge. Always put your best effort into wooing and pursuing your customers. If you don’t, someone else will.
2. Don't sweat it/be unique with your products/services
You may have an excellent product or service, but if everyone else is selling a product or service similar to yours, just how much of the market can you expect to capture? Be unique in presentation, design and customer service. Validate your customer’s requirements. Find out what they really need. If you don't they will go somewhere else, plain and simple.
Listen to your customer’s requirements carefully. If you disagree with a solution, advise them of it. If they still disagree with your proposal, decide whether you can keep your integrity and their business by doing it their way. Always keeping in mind their wants and needs.
3. You don't have to please everyone/understand whom to please
Work hard to please the right people. Market to the right people. For example, don’t spend advertising dollars on people who don’t want or need your products/services. First, find out who your potential consumers are by researching and defining the physical limitations of your business and build a profile of your average consumer.
Some of the most successful businesses know exactly who they are catering too. Formulate marketing strategies aimed specifically at those consumers who are interested in your products/services.
4. Don’t give up control
Be in charge. Stay in control. After all, who knows more about your business than you do? Utilize the experts, but don’t be intimated by them if their advice doesn’t feel right. Follow your heart but also consult your brain!
5. Don’t count your chickens before they hatch
Assume nothing! We all know what that means if you do. Before announcing anything about your business, make sure it is prepared and completed; for example, a business launch, new products, new design, etc. Then let your customers know about it.
6. Don’t ignore problems
Every business run into problems sometimes. Don’t look away, tackle them head on and handle it in a timely manner. Problems will not go away, nor will they get better on their own. Bad and/or good comments about your business should be addressed and acknowledged as soon as possible.
Do you agree or disagree with these 6 business mistakes to avoid? Share your comments below.
About the author: Sonia Colon is writer/publisher of My Fashion E-Mall Blog, and biz owner at Books About Me. For additional powerful business articles and Internet marketing tips, subscribe to her newsletter.
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