12 things to avoid if you really want to effectively develop your business
- Doing it all yourself, because your think it’s easier, and therefore never employing or outsourcing.
- Just keep doing what you have always done, keep working ‘in’ the business, keep promising you’ll do it tomorrow and just hope that something changes.
- Stopping further investment in your business and taking every penny out when you can.
- Not undertaking market research to understand how to best position your offering.
- Thinking you have the best ideas and are always right, so you never take an idea or thought from a member of your team.
- Simply hoping someone finds your business without establishing the marketing channel to build traction to your business.
- Just reading the bank balance and not considering the balance sheet of your business for growth investment (eg debtors and assets to finance)
- Not asking for feedback that enables you to learn, continually develop and build on your value proposition.
- Not creating systems and processes, therefore hoping other just know what to do or deliver what you know works
- Only worried about the costs you have to pay for and forgetting the hidden costs that erode your time to earn and profit.
- Simply price your business offering cheaper than what your competitors and look to buy business for being known as the cheap and cheerful. You often attract the wrong customer, run out of billable time or enter a price war you can’t win.
- Put your head in the sand. Perhaps avoiding a situation, not addressing a problem or remaining blind to threats or weaknesses.
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