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Let’s be real: it’s not easy to be a small business owner. Whether you’re a rookie or have owned your business for decades, owners can find themselves stumbling upon the same mistakes across the board. At first, these mistakes can feel small and meaningless, but more often than not, if you continue to repeat the same mistakes, you could see a dip in your sales and even your business. Luckily, we tracked down the 5 most common mistakes small business owners are constantly making, and what you can do to make sure you’re not part of the pack.
Mistake #1: All Work, No Play
That’s right. You know that spunk and spark you once had that got you where you are today? Well, most business owners lose that part of themselves after they’ve dug their heels into their own business, and it’s actually not hard to do. Smaller owners more likely than not, don’t have tons of employees working under them, which requires the owners to help put in the work themselves. This turns into all work and no play. Many business owners are proud of what they’ve accomplished (as they should be!), but making your small business your entire life isn’t healthy for you or your company’s future. Some owners become so invested in what they’ve created, that they take little time taking care of themselves. The long hours can take a toll on the body, and next thing you know, you’ve lost yourself the mojo that got you to where you are today. So don’t be that person. Don’t lose yourself in search of growing your business. If you get run down, there’s no way your prized possession is ever going to soar.
Mistake #2: Ditching the Mobile
We’re not talking about your mobile device, although we do encourage detoxing from that too! We’re talking about wanting to ditch making an easy to navigate mobile website (and if you’re a small business owner without a website in general, well, that’s a whole other issue). We can’t stretch enough how important it is for any business, big or small, to have a mobile friendly website. Check out our blog, “The Mobile Friendly Checklist: How to Know if Your Website Is Making Your Sales Drop” for more info on why this major step is crucial to your business’s performance.
Mistake #3: Financial Failure:
This isn’t to say your business is going to fail. However, if you decide to skip out on an accounting department, chances are, you’re going to find some bumps in the road. It’s crucial for small companies to be on top of their finances whether that be how much they’re selling product for, how much they’re spending on marketing, or how much they’re paying for employee’s salaries. If you don’t pay attention to these details right from the start, chances are, it’s going to come back to bite you.
Mistake #4: Not Setting Goals:
You didn’t become a small business owner based on luck; no, it took determination and stamina to get where you are today. You had a dream, and you reached it. So don’t stop now. Keep making plans and goals. Many small business owners fail to keep the goals coming. You need to have an idea of what direction you want to see your business going toward. If you don’t have this, then what’s the purpose of the business?
Mistake #5: Avoiding New Technology:
We get it, marketing trends and modern technology isn’t easy to keep up with, and even the ones who can stay on top of all the changes can struggle actually understanding them. But that doesn’t mean that you can just put this on the back burner. It’s vital that small business owners especially stay up on the latest trends and technological advances. You’re generally competing against other small businesses, and if your competitors are staying on top of all the changes, chances are they’re going to blow you out of the water.