Top 5 Expensive Mistakes That Business Owners Make

23 Augustus 2018   •   no comments   
Top 5 Expensive Mistakes That Business Owners Make

These 5 errors that business owners do can save you time, stress and money if you avoid them

 

1. You are the only one who can do it right

While you can be the best in dealing with responsibilities, your business will go bankrupt if you are the one who has to deal with everything. Most employees want to contribute to business development but are unable to develop their full potential without being trained.

2. No Report

Insufficient time or ability to create a report system leads to catastrophe. Hiring and hiring an employee is great, but if you do not assign people statistics and implement a system to determine whether they are productive or not. This will lead both you into a situation that will not be profitable to anyone.

3. Proper recruitment from the first time

Recruiting can cause stress, take time and unproductive attempts. That is why hiring the right person from the first time is crucial and is mandatory if you want to save thousands and thousands of dollars. Hiring a large number of employees is not a solution, because for each employee the cost is much higher than you suppose.

4. Work with your employees

Most owners and managers want their employees to just get used to and continue working, but they do not have the time and the patience to train them. Although it is very important for owners and managers not to do “micro management”, just by giving them a bunch of verbal tasks from their very first day and expecting them to remember everything, it’s a recipe for failure. The best way to deal with this is to provide them with guides that contain all the expected duties, functions, procedures, names and contacts to use. Then let them continue their work.

5. Serve your customers as if your life depends on it

In fact, the life of your business really depends on it. The most important element in business is your customers. Without them there would be no business. If you have the policy to deliver, what you promised, this is essential. You can give more than what will stand out from the competition and could mean the difference between “staying in business” or “massive expansion” You do not have to give more products or do more tricks. Ordinary things like:

  • Always treat your client well, be positive and cheerful around it;

  • Follow up customer after sale.

            Make sure he is happy and fix things if he is not. Some people are afraid to do this because they do not want to know the answer.  Also because they think they have to spend money to do so. However, this action can create so much business from happy references that it’s almost insane to not do it!

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Source: http://hubbardcollege.org

 

© 2016 HubbardCollege of Administration. All Rights Reserved. The TIGER Symbol is a trademark owned by Hubbard College of Administration International. HUBBARD is a trademark and is used pursuant to a licensing agreement. Hubbard College of Administration is licensed by the Bureau for Private Postsecondary Education. The Hubbard College of Administration International admits students of any race, color, religion, national or ethnic origin to all the rights and privileges, programs and activities generally accorded or made available to the students at the school. It does not discriminate on the basis of race, color, religion, national or ethnic origin in administration of its educational policies and other school administered programs.

 

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