Home Motivational Facts 10 MISTAKES PEOPLE MAKE IN BUSINESS

10 MISTAKES PEOPLE MAKE IN BUSINESS

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1) Poor financial acumen.

As an entrepreneur or a businessman/woman you are expected to constantly read business books at least once a week, this will help expand your business and financial acumen for exploits, which is one of the major secrets of the business magnets in the world.

2) Being around average and poor minds.

Most businessmen and women are always around their old friends who have little or nothing to offer in their business endeavours as a result their poor advice and negative energy can bring down business.

3) Delivering Poor products or services.

Some entrepreneurs or business persons are not yet good at what they do yet, but they collect peoples money and give sub-standard products or services, this alone can destroy business entirely, therefore ensure that you are very good before you start.

4) Trying to do a lot of things at the same time.

They say a jack of all trade is the master of none, putting your hands on a lot of things when you’ve not mastered one is a major way of destroying your business, avoid it.

5) Over promising and under delivering to clients.

When you tell the client’s so much about how you intend to deliver their products or services and you perform below what you promise you will lose their trust and that becomes a problem.

6) Employing friends and relatives who have little or poor knowledge about your business.

Some person employs their friends and relation to either pay them less or because you want to empower them, you need to understand that anyone who does not have excellent knowledge in your business has no business their, except you have an expiry date for your business.

7) Poor relationship with clients.

Your customers are the most important persons in your business, the more you treat them cordially and respectfully the more your business grows.

8) Treating customers nicely at first and change the moment they’ve made payment for their products or services.

Some business persons appear so nice and respectful at first and once they’ve collected money for the business from the client they begin to treat the client disrespectfully, don’t forget that only customers can sack the CEO.

9) Poor financial allocation and poor spending attitude.

Every income is supposed to be properly channelled for the growth of the business, do have use the inflows of capital made from your business indiscriminately all because you are the CEO if you try such you will go down.

10) Poor information about your competitors.

You need to find out those who are doing similar business with you most especially around you, find out their business structure, staff strength, kind of product, their pricing styles, their customer care relations pattern etc.

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