How to correct three common mistakes small business owners make!
(Especially When Your First Starting Out!)
How many serious small business owners do you personally know (other) than yourself, that at one time or another, suffered from temporary burn out? Pretty common occurrence when your the one ultimately responsible for keeping the lights on and putting food on the table. Don’t you agree?
Far Too Many Dedicated Small Business Owners Suffer From Temporary Burn Out!
Mainly because (in the beginning) anyway, they are the ones that routinely work 12-18 hour days, once you total everything up. Especially when it comes to a traditional (offline) bricks and mortar (small) Mom & Pop type of enterprise.
And long before the doors actually open and often, long after the doors close, they are as busy as beavers, trying to make sure they can survive into the next week or quarter etc.
Plus, typically, in the beginning, they don’t have readily available access to deep pocketed (Wall St.) venture capitalist, nor do they have an unlimited line of credit with their local home town bank.
Truth told, their bankers are usually far too conservative with (both) their lending and credit practices, as it refers to your typical cash starved and resource limited small business ownersare concerned.
What Savvy Small Business Owners Typically…..
(Lack In Terms Of Deep pockets, They Often Compensate With Outstanding Customer Service Skills!)
Just because your (they) are unable (in the beginning anyway) to float a ten million dollar bond or get Goldman Sachs to issue 25 million dollars in venture capital, doesn’t mean your enterprise can’t adequately provide excellent customer service to your chosen niche.
Typically, your biggest hurdle, is simply one of constantly stretching your razor thin cash flow.
Which causes lots of sleepless nights and other daily anxieties to boot. But (make no mistake about it) they are three other (constantly) nagging factors that plaque far too many would be successful entrepreneurs.
And if you can’t successfully overcome these three specific (and all too common) small business owners challenges, them I’m afraid (my friend), there is a very good chance, within five short years or less (emphasis) on the less, your business (along) with all your dreams of small business ownership, will evaporate.
Three Common Mistakes Far Too Many Small Business Owners Make! (And How To Correct Them!)
Sadly, these three (all too) common mistakes, apply to far too many small business owners, whether you primarily market your business on or offline.
1.) Common mistake # one: In the beginning, especially when your cash flow is extremely tight, you have a tendency to focus on one primary form of successfully marketing your business.
Just because you primarily market online, doesn’t mean you shouldn’t at least inexpensively test some of your viable offline marketing opportunities and vice versa.
2.) Common mistake # two: The “Super hero complex.” Meaning- one of the main reasons your small business (along with everything else) that comes with small business ownership is driving you crazy!
Is because you are the one that supplies all the creative marketing ideas, do the bookkeeping, opening and closing etc. Three simple words of advice. “Get over it!’
You’ve got to to quickly develop the (skill) and ability to hire or develop within your business, qualified personnel that you can successfully delegate and or assign certain needed tasks within your business.
Or else, you’ve just traded one job for another. And severely limited your chances for future business growth. And now you’ll start to have the time needed to work on your business, instead of just in your business.
3.) Common mistake # three: Of course you realize this list could (and probably) should have been expanded to at least five suggestions or more.
Anyway, failing to adequately focus on over servicing your current valued customers and clients, instead of constantly marketing and advertising, trying to create new ones.
This (all too) common mistake is huge, for at least two additional reasons.
A.) As you’ve previously discovered, on average it cost your typical cash starved small business owners a whopping 500% more in up front out of pocket cost, just to create that new (barely) profitable first time customer.
B.) Instead by strategically over servicing your existing customers and clients, because they’ll be far more likely to come back (and spend) more money, plus gladly and consistently refer others!
Thus saving you time and money.
Don’t Think Like A Small Business Owner Just Because You Are One!
They are also 300% more likely to positively mention your business product or service on one of the viral social sites, such as Facebook or twitter etc.
And they are also 500% more likely to give one one of those mouth watering, long term bank account filling testimonials, that you can use from now on!
Basically, there you have it entrepreneur. Three common mistakes (otherwise) savvy small business owners make. And how to correct them.
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