Starting your business off on the right path can help you save on unnecessary costs and time. Just like in personal matters, there are always unexpected obstacles, but that does not mean you are destined to fail.
If you are looking to start a business now or in the near future, we encourage you to read over these common mistakes to avoid.
Not Having a Website
Having a website enables you to reach a wider range of audiences. In fact, 85% of people research a business or service on the internet prior to making a purchase or decision.
One of the most common reasons why entrepreneurs refuse to create a website is they believe they are not “tech-savvy enough.” Surprisingly, you don’t need to be tech-savvy to create a website for your startup. You could choose a drag-n-drop website builder like SquareSpace or Wix and take a DIY approach.
There are also many development companies or even freelancers that help with the process, making it a seamless process for you. One of our favorite resources for freelance web development is Fiverr. Fiverr offers reasonable pricing for freelance web services and 24/7 access to support.
Websites are an effective way of introducing your customers to your product/services. By having a website you’ll be able to save time by redirecting your customers to visit your website for important information. You’ll be able to provide valuable information in various formats: blog posts, videos, photos, or testimonials.
The best part is that websites are available 24/7; your customers are able to reach you at any time.
Waiting Too Long or Hiring Too Soon
Hiring employees is a critical step in a growing company. Some of the most common indicators that your company is ready for an employee include:
- Needing additional skill sets
- Having to turn down work
- Customers starting to complain about quality or timeliness
There are several questions you should ask yourself prior to making the decision.
- What is your company’s growth forecast? All entrepreneurs need some sort of budget/business plan. Having revenue and growth projections will be vital when determining what you can afford to do or what is needed to get your business where you want it to be.
- Is the work steady enough to support an employee? It’s important to not make drastic decisions just because you may be feeling overwhelmed or stressed out. First figure out what exactly will the employee be doing, and how will they be bringing in additional revenue to the business.
- Can you afford to hire an employee at this time? There are many cost factors to consider before making the decision of hiring someone such as wages, training, software licenses, payroll costs, insurance, among several other overhead costs.
- Which type of employee would be best for your current situation? As mentioned above, hiring an employee comes with additional costs. Keep in mind you have options based on your budget and required time commitment: freelancer/contractor, part-time, or full time.
Not Listening to What Your Customers Are Saying
Paying attention to what your customers are saying helps you improve your business and avoid situations that do not work well. In today’s world, customers have higher expectations than ever before. In a study conducted by PWC, customers said they are willing to pay more for a service or product in exchange for a better customer experience.
One of the easiest ways to become more customer service-oriented is to open and formalize listening channels. Customers enjoy answers to their questions in real-time. Some options to consider for communicating with your customers are:
- Live chat
- Help desks
- Social media
Your customers can give you the best feedback. Don’t be afraid to occasionally send out surveys. Having good communication with your customers will allow you to diagnose business opportunities, areas of improvement, and overall, create a better customer experience.
We hope you found this blog post helpful in your journey as a small business owner. If you’re looking for more helpful tips, our blog is a great resource. Who knows…maybe you’ll be featured one day!