Avoid these 3 common business mistakes at all costs!

Search with Ctrl + F Last updated: 2022-07-28

Whether you’re a new entrepreneur or a seasoned business owner, there are some core business mistakes that can torpedo all your hard work. We know building up a company takes blood, sweat and tears. Along the way, you’re bound to have a couple screw ups. Some of them are easy to come back from while others can irreparably damage everything about your business. Good news is, there are mistakes that are easily avoidable. Here are a few of them.

Choosing the wrong team

The team you choose to work with and to build your business around has the power to determine how successful your company will become and how difficult your job will be as a CEO. Either you can lean on them or you can’t. Either you can release them into the wild or you can’t. Either you trust them or you don’t. If you hire the right people who share your vision and your passion for your business, you’ll see it in their work and the company will benefit as a whole.

It’s extremely vital that you take your time with the hiring process. Do not jump into something because you’re desperate to make a decision and do not hire solely based on experience and education. Who they are and how they work matters just as much, if not more, than what they know. Get a feel for who they are as a person. Energy is easier to read than most people think.

Not using the right technology

Finding the right technology is a lot like hiring the right person. It’s tempting to jump into a premature purchase because you’re desperate for a solution, but if you take your time, you will see more growth and better results.

The key is to think of technology as an investment and not just as a necessity.  Carefully consider your technology investments from every angle possible: as a CEO, as a staff member, as a client, as a vendor, and as an outsider looking in. With the right technology, you’ll have a solid foundation to build your company on and the ease-of-mind that your data is safe and protected.

Ignoring your clients

Whether your business is small, large, new, or old, it’s easy to place your business on a pedestal because it’s everything you’ve ever worked for and more. It’s your baby, your one and only, your everything.

So when someone decides to present you with their not-so-positive opinion about your business, it’s easy for you to dismiss their thoughts. But this is a huge mistake that you don’t have to make. You can always learn something from what your clients have to say about you and your business. Maybe the complaint is completely uncalled for, but if you peel away the superficial judgment about your company, what’s left? Humans are still incredibly social beings, and if your company starts to get a bad reputation, you need to be smart enough to catch those bad opinions early on and fix them before the problem gets too large to handle.