TEN BIGGEST BUSINESS BLUNDERS

NO PLAN, NO VISION You need a clear strategy for your business to take off. Have a direction. Design short and long-term goals.
Ask yourself:
• Where do I want my business to be in five years?
• How large do I want my business to grow?
• What am I building a business for?

WEAK SYSTEMS Strong businesses use structure to function smoothly. Don’t reinvent the wheel each time. Set up smart practices and procedures.
Ask yourself:
• Do we have checklists to insure operations go smoothly?
• Do we have a schedule for regularly backing up computers?
• Do we have forms that track prospective clients?

LACK OF LEADERSHIP As head of the company, you’re in charge of setting the direction. People are watching you. Learn how to communicate and motivate others.
Ask yourself:
• Do I inspire employees with my vision?
• Do I offer opportunities for personal development and advancement?
• Do I regularly acknowledge jobs well done?

NO UNIQUE SELLING PROPOSITION Knowing why your customers buy your services is critical. You must have compelling reasons that set you apart from the competition.
Ask your customers:
• What features or services do you like best?
• What other services might you like?
Ask yourself:
• How can I design our sales and marketing strategy to include this?

NO SALES OR MARKETING PLAN Flow of new business is critical to ensure future growth and healthy revenue. Be diligent. Don’t wait until work slows down. Make sales and marketing a regular part of your routine.
Ask yourself:
• Who is our target market?
• How do we reach potential customers?
• Do we have compelling marketing materials?
• Do we have a sufficient sales and marketing budget?

POOR TIME MANAGEMENT Learn how to work strategically and efficiently. Spend your time on important, profitable activities rather than putting out fires or returning unnecessary emails.
Ask yourself:
• How can I organize my day so I am productive and energized?
• What can I do today to generate the most profit?
• How can I spend my time thinking strategically and planning for the future?

DOING EVERYTHING YOURSELF As soon as you can afford it, free yourself up for higher-level tasks. Hire part time. But hire. Learn and master the art of delegation.
Ask yourself:
• Might I be calmer, energized and more organized if I wasn’t doing it all myself?
• Is this the best use of my time?
• If I delegated, what else could I be working on?

MISSING REFERRAL OPPORTUNITIES Networking is the smartest and most effective source of new business. Let friends, clients and associates help you increase sales. Remember to thank them and help grow their businesses as well.
Ask yourself:
• What networking and professional organizations can I join?
• Who do I know who would make great referral partners?
• When was the last time I asked customers for referrals?

NOT EVALUATING Take time out on a regular basis to analyze your business. Let your experiences (good and bad) guide you in designing policies, procedures and business strategies.
Ask yourself:
• What’s working in our business? What’s not?
• How can we be more functional? More profitable?
• What in the business needs to shift?

GOING IT ALONE Savvy business owners know the importance of having a strong team of advisors. Hire a smart accountant, financial consultant and business coach. Call often. Discuss issues, opportunities and strategies.
Ask yourself:
• Do I have the best advisors?
• How often do I ask for their input and advice?
• Do I know somebody who can point me to great professionals?

Learn the art of working smart. Call Teri Scheinzeit to blunder-proof your business. 917.602.6358