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Successful business

6 Common Mistakes Business Owners have made Last Year

More than half of this year has passed, but it seems that many business owners are still making mistakes that were typical for 2016. By learning more about these business mistakes, you should be able to get the most from 2017. It is never too late to correct these mistakes and get your business on the right track. Just like any other business owner, you are probably focused on growth. Well, by making these mistakes you cannot expect growth. So, what are some of the most common mistakes that business owners have made in 2016? What should you avoid?

  1. Not having goals

It is always a good thing to be enthusiastic, optimistic and energetic when you are doing business, but these things won’t mean much if you don’t have a solid strategy and a dose of realism in the process. Unreasonable and unrealistic goals can’t help you predict possible obstacles and problems. Not having goals will make the realization of your strategy virtually impossible. In order to increase the chances for success, you should definitely set realistic goals. These goals should be divided into two groups – long-term and short-term goals. Obviously, these goals must be measurable too. Once you achieve any of these goals, remember to spend some time celebrating.

  1. Not knowing your customers

If you ask almost any company manager or business owners, they will tell you that they provide great customer service. However, only one out of ten customers say that they are satisfied with the customer service they’ve received in the last year. So, what’s the catch? What’s wrong? The most important mistake is that businesses are not aware of their customers’ needs, requirements, and desires. They don’t know their customers. To solve this problem, businesses are advised to listen and monitor their customers’ behavior. We are living in a digital world where these activities are easier than ever so there is no reason why you should avoid their use. With the right inventory management software or customer relationship management software, for example, you will be able to get more information about your clients and learn more about them.

  1. Inadequate customer service

This point is similar to the one we’ve presented before. The latest surveys have shown that about 4 out of 10 US customers think that companies are not willing to do more to provide better customer service. Ruined brand identity, poor customer retention and negative response to increased prices are some of the negative effects of inadequate customer service. As we have already mentioned, it is easy to improve these services today.

  1. Doing everything alone

Even if your business is relatively small and has just a few employees, this doesn’t mean that you can do all the things involved in the business process. This is a wrong approach that can lead to negative consequences. Relying only on your knowledge and free time will prevent business growth. It can also lead to many problems that can ruin your business. Don’t be afraid to outsource some of the work to other people.

  1. Lack of urgency

There are many companies that don’t recognize the urgency in certain situations. The business world today is changing all the time and you must act quickly to take advantage of these changes.

  1. Not using technology

By technology, we don’t mean just the use of computers and printers. There are many other tech gadgets that can help you grow your business like mobile POS solutions, special software solutions and more.

Avoid these common mistakes if you want to run a successful business by the end of 2017.

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