In this day and age, starting a small business isn’t too hard. This is exactly why so many people in New Zealand have decided to quit their jobs and become entrepreneurs. If you’re one of them, you also need to know there are mistakes you can make that could potentially destroy your business. To help you make sure this doesn’t happen, we’ve singled out 5 of the biggest mistakes you could commit and come up with tips on how to avoid making them.
Lying to your customers
Lying is never a good thing, especially when you’re running a business. Sure, lying a little bit seems to help you attract customers and sell your product or service. But, if your customers realize you sold them lies, soon the entire world will know what you’re up to. This is the case because negative comments about your company can quickly spread on social media and hurt your brand significantly. In order to ensure this doesn’t happen to you, sticking to the truth is always recommended.
Arguing on social media
According to recent reports, there are more than 3.5 million people in New Zealand using social media. This means that the web is one of the best places for attracting people to your brand. However, if you respond negatively to a review on your company’s Facebook page, all those people on social media will create a negative association with your brand and decide to turn to your competitors instead. That being said, when using social media, you need to be as polite as possible, even when you know the customer isn’t right.
Not having quality power supply
If you are running a manufacturing business, having quality power supply is an absolute must. Still, many New Zealanders fail to check their power quality and end up paying for more than they actually get. In order to make sure this doesn’t happen to you, you might want to turn to experts in power quality who’ll be able to help you out. They’ll show you how to use a power quality logger for troubleshooting and maintenance. This could end up saving you a real fortune on repairing and replacing your equipment.
Setting unrealistic goals
When running a business, you need to set the goals that’ll help you stay motivated. However, if you start by setting unrealistic goals for you and your team members, it’ll only create a culture of failure in your organization. That’s why the best thing to do is to come up with short-term and long-term goals that relate to a measurable success and can be reached. The more of these goals you reach, the easier it will be to set the new goals and start working towards reaching them as well.
Always having an excuse
No matter what kind of job you do, there will be times when something goes wrong. And instead of coming up with excuses, you should try to identify the problem and address it as quickly as possible. Coming up with an excuse may help you feel better at the moment but it won’t help your company move forward. Take responsibility for what has happened and do the best you can – that’s what people in the business world are going to appreciate more than anything else.
Some of these mistakes could end up hurting your brand’s image while others could drain money from your budget until there’s nothing left in it. Fortunately, ensuring you don’t make any of these mistakes shouldn’t be tough. Just take your time when making important business decisions and there will be nothing stopping your business from succeeding. So many your fellow entrepreneurs have done it, and there’s no reason why you wouldn’t be able to do the same.