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6 Business Mistakes That Prevent Growth

6 Business Mistakes That Prevent Growth

Businesses in today’s world make many mistakes on a regular basis just because of the fact that they are not ready to give in their 100%. If you want to succeed, you have to spend money. Like if, you want your customers to get your emails and you do not have the required expertise. You need to hire an email marketing agency rather than doing it yourself and failing at it.
The point is getting the right things at all costs and making the right decision with a foolproof plan is needed.

1. You do not solve the problem

Not everyone knows that the day before the crash, the Titanic received seven warnings about icebergs on the way, but did not change course. Radio operators did not transmit a signal to the captain, because they were busy with other work and did not believe that the ship was capable of drowning at all.

So that your business does not go to the bottom in the same way, stop postponing important tasks for later. Perhaps these tasks do not need to be urgently performed here and now, but if they are never done at all, the company simply cannot move on. Your task as a leader is to prevent such problems. Remember: the task will not solve itself.

2. You do it yourself

If everything in your business is tied to you, then you do not have a business – this is ordinary self-employment. If you want to really get rich, you have to learn to earn while you sleep. The company cannot grow, relying on the resourcefulness of only one person, no matter how advanced and competent he is.

A bank branch let’s say it could not grow for a long time – business ran up against the ceiling, revenue remained at the same level, and the staff did not increase. The director did everything herself. According to the recommendations of the central office, the director began to form a strong management team: the potential of each employee was evaluated based on the priorities of the company. As a result, the staff doubled in a year, and revenue, too.

If a business is falling apart without your participation, it is time to build a team you can trust. The third error follows from this.

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3. You hire weak people

There is one feature that is always absent from weak employees and is present among strong ones – responsibility. A strong person is aware that his every action has consequences. He does not just follow orders but offers himself what can be fixed and where can be done better. How to recognize such a person?

Look at the resume: most likely, they have achieved good results on past projects or in everyday life. Even if a person came immediately after university, then for 22 years he should have the baggage of achievements: sports rank, an Olympiad, his own project, blog, website or school medal with honors. If your team already has a weak link – do not rush to dismiss the employee immediately. Analyze his role in the company: does this initiative really need the initiative we are talking about? 

For example, an accountant does not have to generate new ideas in order to work well – but a manager needs. If the position requires the generation of new ideas, but the last time a person came to you six months ago to raise his salary, you need to talk to him. Find out what is happening: perhaps the problem is not in the employee, but in difficult life circumstances. Alternatively, maybe just an inappropriate post.

4. Believe you know everything

Now when you begin to believe that there is nowhere to grow – and, like others, it is not so important anymore – you can say goodbye to your business. Most likely, he will die. It is only a matter of time.

If there is no change, there is no development. Look at other companies and find what they do best. Understand how others have processes and implement the most effective solutions in your business. In addition, yes, do not limit yourself to a village, a city or a country – the world has long become global. Use international best practices now.

5. Rely on micromanagement

People are different: someone needs to be monitored once a month, and someone every day. To control did not seem redundant and did not affect the motivation of the employee, you must keep a distance.

People want to work autonomously. If you control them every day, there will be no result. Try to arrange for employees not daily but periodic inspections – for example, once a week. This not only does not interfere with work but also further disciplines a person. At the same time, the feeling of independence will not disappear: in the intervals between checks, a person decides what to do and in what order.

6. Hope for intuition

If you think that you have a wealth of experience – you can allow yourself to hope for intuition. After years of work, an entrepreneur begins to pick up things that you might not notice at first glance, but which can say a lot – they help to make competent, intuitive decisions.

Unfortunately, beginners cannot make out these things. Therefore, if you do not have the experience, then you need to rely only on data.