Entrepreneurs • Business

3 mistakes that can ruin your business

04 Dec, 2018 • by Fashionomics Africa
3 mistakes that can ruin your business
Fashionomics Africa

With the difficulty and effort involved in creating a new business, it is necessary for business owners to know about big company “no no’s”. Many entrepreneurs forget to take into consideration these 3 details, and end up leading their company into a crash and burn. These mistakes are not because of low IQ, stupidity or even bad intentions but instead, because of misinformation. Read below for a complete insight on these common mistakes and how to fix them.

 

First mistake that entrepreneurs make is falling into a world (and vision) of superficiality. Of course that keeping numbers in mind is important, and having a positive revenue is a huge deal for your business, however, you must not fall into the issue of obsessing over money. Quality, personal satisfaction, and growth, are also important facts to consider. Believe us when we say that being shallow and caring only about cash will only drive customers away from you. Fix this by focusing on your customers well-being, finding distractions, and keeping a “give back to society” mentality.

 

Second common mistake is the problem that many people encounter of not focusing enough on one single thing. Amateurs many times get excited about the idea of being an entrepreneur, they start having “great ideas” and none of them end up working because none of them were executed with concentration. Chasing “two rabbits at a time” will end you up with no rabbit so in order to avoid this, make sure you focus on one single project and keep goals in mind.

 

Third common mistake that can happen for young entrepreneurs is ignoring the little things that customers complain about. When customers complain about details on your facebook page, or ask for a refund, make sure you give them a great customer service and actually care for fixing their issues…. Ignoring them can make you that “stuck up company”that doesn’t see what everyone is complaining about.


 

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