It is not normal to have a booming business go down the drain. It is also not normal for your business to reach its peak and then slide drown gradually. There are certain things business owners do that they feel it isn’t so important, but it is killing their businesses slowly. These are the common mistakes that are holding your business back:
Poor customer service. We have seen so many business owners who, before they became so big, were so polite and welcoming to their customers. And then all of a sudden, they became rude and pompous. Business owners like that believe that they have become so important and their businesses have grown too big to accommodate customers who patronize their products in small quantities. That’s not true! Whether they buy goods worth millions of Naira or hundreds of Naira, every customer counts!
Poor record keeping. If you cannot do proper financial records, or manage your finances well, then your business will gradually fall. You should be able to give proper account of how much goes out and comes into your business, and how much profit you make either weekly, monthly or annually. Poor record keeping will hold your business back.
Poor social skills and networking. When you chat with some business owners, all they do is to complain about the poor economy and how tiring it is to run a business. If you fall into that category, please stop. It’s holding your business back. People will be drawn to you if you ooze out positivity. Good networking should be about marketing your product and not whining about it.
No professional website. Do you know most people check out your business online before patronizing you? Not having a standard website is holding your business back, because when prospective customers do an internet search and can’t find you, they’ll lose interest.
Not investing in your brand. Most business owners like freebies. Having free business cards, cheap websites or logos will hold your business back, as most of your clients would not take your business seriously.