Entrepreneurs - 7 Business Mistakes You Must Avoid > NetSparsh

Home
>
Top Quick Tips
>
Entrepreneurs - 7 Business Mistakes You Must Avoid

Entrepreneurs - 7 Business Mistakes You Must Avoid

Many mistakes can be made in business and if you are able to avoid some of them by reading and taking note of these warnings, then the time taken to put these together will be worth while. Here are some business mistakes that are common to many entrepreneurs..

No plan
Many people go into business without any plan at all. The old saying that "if you don't have a plan you won't know when you've got there" still holds true today. You need to set up a business plan and that plan will contain other subsidiary plans such as a marketing plan, a finance plan, a sales plan, etc.

Be flexible
If you have a business idea and you are looking at developing that into your business, then be prepared to change and be flexible. Sometimes the original idea needs some fine-tuning before it becomes commercially viable and profitable for you. By all means stay with your dreams, vision and ideas, but be flexible and allow yourself the luxury of discussing those ideas with professional advisers, as well as those who have already done it before.

Make sure you know your customers
Every business must have customers. If you don't have customers you won't have sales. If you don't have sales, you won't have profits. If you don't have profits you won't have a business. Make sure you are aware of your customers as well as your competitors. You need to know your customer's preferences, as to the services you can provide. Unless you know your customers well, it is difficult for you to know what to supply.

You need to know what their requirements are. You need to find a bit more about their buying patterns and you need to be aware of your competitors so they don't take your customers away from you. Also provide good customer service. The short answer to customers is, work hard to get them and when you've got them, keep them by providing quality products, service and good support so they won't consider going anywhere else.

Watch your cash
Ensure your cash position at all times allows you to make decisions and pay for the requirements of the business. The saying that "cash is king" still holds true today because if you run out of cash your business will come to a "screaming halt". You always need to maintain sufficient cash in reserve to meet emergencies and to pay staff and to pay for goods and services.

This means that the fact you have a lot of stock in the warehouse or a lot of equipment or other assets, does not guarantee you will not fail. If you don't have cash you will definitely fail because most people don't' look kindly on being paid for their goods and services with your stock or plant or equipment. People want cash.

Work with good staff
Make sure you employ good people. Motivate and train them so they are happy in their work. The result will be increased productivity and work satisfaction. Be patient and persistent, and insist on a high standard of work from your staff. Motivate, encourage and coach if necessary, as well as pat them on the back when that's needed. Some psychologists go so far as to recommend that the staff need a cuddle now and then, but that is probably going a bit overboard!

Make sure you have good morale in your workplace, because that will result in high productivity and high profits for the business. If the business is doing well, ensure that the staff know about it and praise them for it. The best confirmation of your satisfaction with your staff will be when you share some of that increased profit with them by way of bonuses and other benefits.

Always seek advice
Listen to good advice. The person who thinks they know everything is headed for disaster. Being a lone ranger does not entitle you to a medal and you will find most people are prepared to talk and help you if you ask. Also be aware of the fact that you cannot do everything yourself, based on the knowledge you have. Others also have expertise and something that takes them five minutes to explain could take you a couple of days to figure out on your own.

Be realistic
If you are in business, you need to live in the real world. You need to watch your business performance. Control your expenses. Look at ways of increasing your income. Continually monitor how the business is going and how the staff are performing. Have a reserve of cash in the bank for a rainy day and plan ahead all the time, rather than waiting for disaster to happen.

StartRunGrow (http://www.startrungrow.com) is a global online information organization that specializes in creating, developing and marketing business help information specifically with the aim of "making business easier" for entrepreneurs around the world. The StartRunGrow objective is to become a dominant player in the business help arena providing end to end solutions for the millions of small and medium businesses worldwide who continue to struggle daily with the difficulties of starting, running and growing a successful business.

In The News:

Top 7 tree decorating mistakes and Their Fixes Orlando SentinelAn expert shares common holiday tree-decorating mistakes and how to fix each.

Top 7 Call of Duty: Black Ops 4 Blackout Tips – How to reign supreme in battle royale TrustedReviewsTrusted Reviews has compiled our top six essential tips to help you get ahead of the competition in Call of Duty: Black Ops 4's Blackout mode. Time to drop!

Marni Jameson, Top 7 tree-decorating mistakes and their fixes NewsOK.comLet's be honest. If the last time your holiday tree got a makeover was around the time you were watching “It's a Wonderful Life” on videocassette, darling, it's time ...

Top 7 (poor) excuses for not opening a high-interest online bank account Bankrate.comWhat are you waiting for? There's no excuse not to be opening an online bank account and earning the highest annual percentage yield (APY) available.

Six tips and tricks to help you achieve your highest score in 2048! iMore2048 is a matching game where your job is to combine matching tiles to create larger numbered tiles. Here are some tips and tricks on how to work your way up ...

Top 7 Tactical Tips For Studying For The Bar Exam Above the LawNow that the bar exam season has officially commenced, many mentees and friends have approached me for studying tips. Several are enrolled in bar prep ...

Top 7 Instagram Groups Tips and Tricks to Use it Like a Pro Guiding TechChat with multiple people without sharing your number on Instagram, using groups. Make full use of Instagram groups with these tips and tricks.

10 Fortnite tips and tricks every player should know GizbotThe genre of Battle Royale has not been in the spotlight more than now. You keep running into people with their head buried in their phones everywhere you go.

10 tips to speed up your Google searches SoftonicConsidering how often we all use Google in our daily lives, it's odd that most of us don't devote more time to actually learning how to use it more efficiently.

Top 7 sneeziest plants of New Zealand Stuff.co.nzLiving in a beautiful, natural environment is one of the many perks of living in New Zealand. For the hundreds of thousands who suffer from hay fever though, that ...

7 Tips to Get Better Mileage from Petrol, Diesel Car To Combat Fuel Price Rise NDTV NewsFuel prices in India are getting higher and higher and fuel economy or fuel mileage is crucial for most diesel car or petrol car users. So here are seven great tips ...

Top 7 Survival Tips for Your First Year Out of College Student Loan HeroNow that you've graduated (and celebrated accordingly), here are seven survival tips for your first year out of college from graduates who came before you.

Top 7 Tips for Choosing a Perfect Water Flosser The Good Men ProjectA water flosser is a pretty convenient thing to have for your everyday dental care and hygiene. Therefore, getting the right one is crucial and definitely important.

Top 7 Ways to Save Money on Halloween Costumes in Champaign-Urbana chambanamoms.comWe share our best money-saving tips on making those Halloween costumes more affordable.

NBFCs down up to 50% in September; top 7 value buys at current levels Moneycontrol.comExperts feel that the pain in NBFC stocks are likely to continue in the near term and any corrections in some of the stocks are a golden opportunity to buy.

Top 7 Foods That Induce Menstruation: Induce Periods, The Natural Way NDTV FoodHeres a list of top 7 foods, which are easily available at home and are sworn by our grandmas as great for consumption before and during the periods.

Top 7 birdwatching spots in Montreal, chosen by an award-winning photographer Montreal GazetteI met up with Ilana Block at the Technoparc early one morning. Within minutes we were observing a parade of birds.

Top 7 Tips for Promoting your Promo Codes on Social Media Baltimore Post-ExaminerWith the advent of the internet came new and more efficient ways of doing business. Today, any kind of online startup can begin thriving within a few months of ...

The Top 7 Safety Tips for Real Estate Agents From SentriLock Business WireIn 2017, almost half of female REALTORS reported feeling unsafe at least once on the job. To help reduce their risk, SentriLock offers top safety tips.

10 Tips to Pass Microsoft Certification Exams and Earn MCSA Certification The Leader Newspaper OnlinePassing Microsoft MCSA should not be as hard as you think. With a proper preparation and execution of your plan, you should find it easy to succeed in this ...

Top 7 financial priorities everyone should have Pulse NigeriaDo you seriously need an incentive on achieving your financial goals? Set financial priorities.

The best 9 Windows 10 productivity tips and tricks Softonic ENWhile Microsoft has helpfully designed Windows 10 to be user-friendly, there are plenty of not-so-obvious tricks you might not know about. Indeed, the software ...

Champions League Fantasy: Top 7 midfielders to choose SportskeedaThe Champions League begins in less than a week and brings along with it the excitement of the Fantasy game. You aren't eligible for prizes if you're outside ...

How to customize Cortana in Windows 10 GizbotCortana has a ton of features that make life much easier than it is, the virtual assistant's sole purpose is to increase productivity. From finding the answers to ...

Top 7 Highest Paying jobs and beyond SoftonicThere are so many jobs and numerous career options out there! But which ones pay really well and will be in demand for the next few years? Find out with our ...

The Top 7 Management Tips From Harvard Business Review TIMEHarvard Business Review recently released a book of their top Management Tips. Here are the ones I felt were the most insightful and actionable. Get…

UKIYO's Top 7 tips for bands and artists touring Perth Music Insight21 year old Perth producer Ukiyo can't wait for you to get your ears around his new EP, Fantasy, which drops Wednesday, 1 August. *Fresh* from a touring run that ...

How to bring desktop gadgets to Windows 10 GizbotWindows Desktop Gadgets was introduced with Windows Vista and could be used for Windows 7 as well in order to increase productivity. These were really ...

Top 7 Rules of B2C Digital Marketing Business 2 CommunityOne of the most exciting things about the digital revolution is access to information. In the past, getting data was nearly impossible, and robust software tools ...

Eyesight: Top 7 Ayurvedic Remedies To Improve Eyesight Doctor NDTVPoor eyesight has turned out to be a common occurrence in our world. It is of two types; nearsightedness or farsightedness. More and more people have either ...

Are you a day trader? If yes, here are top 7 factors to consider for wealth creation Moneycontrol.com"The key to successful day trading is being consistent and doing things which are repeatable. Hence tone down your expectations, if you are generating ...

10 Tips On How To Manage Your Hard-Earned Money & Be Financially Smart MensXP.comHere are 10 tips on how to better manage and handle your hardearned money, and avoid the vicious trap of debt.

Open enrollment tips for benefits managers: Getting ready BenefitsProAre you excited for open enrollment or feeling some anxiety about it? Or both? Check out and bookmark our top 7 must-read open enrollment articles for HR and ...

Music Festivals Are Great, but These 7 Tips Are Crucial Study BreaksThe season of music festivals is right around the corner, and to make sure you're completely prepared, following a few tips can't hurt.

The Top 7 Video Games Releasing In October (2018) ForbesOctober has landed. Along with falling leaves, jack-0-lanterns and the first hint of cooler weather, this month brings with it a whole slew of upcoming video games ...

How to make Windows 10 run faster in 9 easy steps Softonic ENWindows 10 is pretty fast out of the box, but you can make it even faster. How? For starters, you can eliminate those “extras” inside of the operating system that ...

Champions League Fantasy: Top 7 players for matchday 4 SportskeedaChampions League football heads into the latter stages of its group stage with Matchday 4 now upon us. The groups are now beginning to take shape and there ...

Top 7 Ranking Signals: What REALLY Matters in 2018? Search Engine JournalFrom mobile-friendliness, to *content*, and to backlinks, here are the seven ranking factors that will really matter that most for SEO in 2018, and why.

How to use Google Lens GizbotGoogle Lens is a visual search tool and it is the latest product from Google. When you use the Google Lens option on an image that you direct it towards, all sorts ...

PES champion Alex Alguacil shares tips & tricks Gamereactor UKEven though many training hours are required along with some great talent to become PES League 3v3 World Champion like Alex Alguacil, the Spanish player ...

Top 10 Join App Tips To Use it Like a Pro Guiding TechOne of the primary features of the Join app is to sync notifications across devices. While many apps let you send your Android notifications to PC, there are a ...

Fantasy Football: 6 Best Ball Strategies & Tips for Beginners The Fantasy FootballersBest ball? Are you confused every time you see this mentioned on your Twitter timeline or Reddit thread? Now is the perfect time to sign up with DRAFT and use ...

UK-driven EU Tourism, Greece in Top 7 Travel Spots The Leader Newspaper OnlineA total of 2.1 million UK nationals chose to travel to Greece in 2017, ranking the country seventh in terms of top seven UK travel destinations in the EU, TUI ...

Bundesliga Official Fantasy: Top 7 players to sign SportskeedaThe Bundesliga has jumped on the Fantasy Football bandwagon and have created their own Fantasy game which will go into its second year this seaon.

The Top 7 Social Media Marketing Trends Going Into 2019 Business 2 CommunityWe all know by now how important of a role social media has on your business strategy. If you're not on social media, you're making things significantly harder ...

Top 7 Tips To Getting Shredded Pundit ArenaLISBON, PORTUGAL - MAY 24: Cristiano Ronaldo of Real Madrid celebrates scoring their fourth goal from the penalty spot during the UEFA Champions League ...

How to completely disable ads on any Xiaomi smartphone: The simplest trick GizbotXiaomi's custom operating system MIUI is known to offer a ton of customisation options, which are not available on stock Android OS. However, the MIUI is not ...

Top 7 digital trading card games SoftonicWhen you think of digital trading card game, the first one that probably comes to mind is Hearthstone. Some people may even think that this is the only digital ...

Top 7 Goal-scoring Defenders in the World right now SportskeedaThe modern day defenders are fantastic ball players themselves, who nurture a desire to score goals and we look at the 7 of the best of them.

Top 7 Reasons For Platinum Price Growth United States Gold BureauOnce the darling of precious metals, platinum recently hit a 10-year low and many analysts think the bottom has finally been reached. Could now be the time to ...

Top 7 Semiconductor ETFs to Buy Now Investorplace.comSemiconductor and chip stocks have been huge drivers of the tech sector recently. These 7 semiconductor ETFs are positioned to profit if the trend continues.

The Top 7 Aviation and Aerospace Stocks to Buy Now Investorplace.comAviation and aerospace stocks have found themselves in some crosswinds. On the one hand, they've enjoyed an amazing run in recent years. On the ...

Top 7 Essential Questions to Ask When Hiring an SEO Company… And 3 Costly Pitfalls to Avoid Business 2 CommunityHiring the right SEO company can rank among one of the top business decisions you'll make. The right SEO company can help your business dominate search ...

How to use the new group FaceTime feature on your iPhone/iPad GizbotThe group FaceTime feature that is available in iPhones and iPads and how to use it.

7 Fundamental Tips To Achieve Anything One Wants In Life MensXP.comHere are few fundamental tips that can help you achieve anything you want in life.

How To Ace The Top 7 Most Common Interview Questions Forbes NowI always tell my clients that they should be prepared to answer all sorts of different questions during a job interview. After all, employers are known for throwing in ...

Top 7 Fitness Myths You Need To Stop Believing NDTV NewsMyths occupy a bigger chunk of the knowledge you gain about the fitness industry each day. Believing these myths blindly can take you away from your fitness ...

How to Lower Cryptocurrency Trading Fees: Top 7 Ways to Reduce Costs Bitcoin Exchange GuideAs with all financial transactions, trading cryptocurrencies also come with their own fees. The exchanges bill you, credit/debit card issuers bill you, banks bill you ...

Google Home: The 19 best features, tips, and tricks Business InsiderWhether you have the original Google Home, the tiny Google Home Mini, or the extra-large Google Home Max, the device has several hidden tricks.

15 tips for using Command Prompt SoftonicCommand Prompt is one of Microsoft Windows' most powerful tools, and for the majority of end users, one of the most underutilized. While its capabilities are as ...

Barcelona travel tips: Top 10 do's and don'ts at MWC2018 Mobile Business InsightsOne of the best parts of Mobile World Congress — and there are a lot — is that it takes place in the beautiful city of Barcelona. Here are some Barcelona travel ...

Top 7 stocks which could grow from small & midcap stock to largecaps: Porinju Moneycontrol.comInvestors who are just focused on Nifty and Sensex might miss a big opportunity which is there in the small and midcap space, says Veliyath who is MD, Equity ...

Top 7 Nigeria Politicians With integrity in Nigeria, Buhari Tops The List Information NigeriaIn this Video, we will talk about people of integrity in Nigeria. We have a list of very influential persons who are considered trusted and honest politicians and ...

7 tips to avoid dying right away in Fortnite Battle Royale Softonic ENFortnite: Battle Royale has become the phenomenon of 2018. During 2017, its big rival (PUBG) won the popularity contest. This year, Fortnite is beating all the ...

Heres how you can fix 10 common Chrome issues GizbotGoogle Chrome has become one of the most popular browsers. With millions of users. Many are experiencing trouble while using Google Chrome. Here are the ...

How to use Instagram Nametag feature GizbotThe Nametag feature available on Instagram and how to use it effectively.

Seven things to do this weekend in Morris County Daily RecordSeven cool things to do in Morris County this weekend - from Morris Canal lessons to Star Wars May 4th celebration.

Top 7 awards conferred upon former Indian PM Atal Bihari Vajpayee Times NowNew Delhi: The former prime minister of India Atal Bihari Vajpayee took his last breath at the age of 93 on Thursday (16th August) at 5:05 pm in All India ...

'American Idol' 2018: Top 7 Contestants Revealed! | American Idol Just Jared'American Idol' 2018: Top 7 Contestants Revealed! American Idol just revealed their Top 7 contestants following the first live coast-to-coast broadcast! Viewers ...

12 Top Microsoft Launcher Tips & Tricks That You Should Know Guiding TechLooking for some hidden features in Microsoft Launcher? You have come to the right place. Here you will find some great Microsoft Launcher tips and tricks.

5 Skin Tips For Indian Men To Look Their Best During Diwali Festivities MensXP.comDiwali is just around the corner, and that means a lot of fun, eating, drinking partying, and socialising. Here are tips for Indian men on making sure their skin is ...

Top 7 branded perfumes for Indian men Times of IndiaBest Products News: Perfumes have become one of the key essentials in today's fashion industry, we too thought of bringing you some of the hot picks of ...

Top 7 Tips for Bomber Crew TL;DR GamesBeing a bomber pilot during WW2 isn't easy, even in a cartoony game like Bomber Crew. Here are the Top 7 Tips to surviving.

How to use Google Maps on JioPhone 2 GizbotReliance JioPhone is no doubt one of the best smart feature phones available in India. Following the success of the first-gen JioPhone, Reliance had also ...

5 Skin Care Tips Men With Oily Skin Should Definitely Follow MensXP.comIf you harbour oily skin and want to do something to make it oil free, then here are five simple tips you should follow.

Top Tips From A Dermatologist For Tackling "Age Spots." Are Lingonberries The Answer? YouAreUNLTDResearch published in 2017 in Plant Foods and Human Nutrition indicates that berries – lingonberries and blueberries, in particular – are rich in anti-oxidant ...

Top 7 Atta Dough Maker In India To Buy Online HungryForever.comLooing for atta dough maker of a perfect homemaker. Here we have listed Best Atta Dough Makers, which are going to help you in preparing the perfect dough ...

These are the 7 stocks that Goldman Sachs wants you to invest in GQ India - What a man's got to doLeading market analysts, goldman Sachs have predicted a bright future for the Indian stock markets. Here are the seven top stock picks according to Goldman ...

Top 7 Foods To Gain Muscle Mass Doctor NDTVSo are you ready to build some serious muscle mass? Start taking these foods in your plate to achieve your goal.

Top 7 Best Piste Skis of 2018-19 Snow MagazineGet your carve on with the very best piste skis for the 2019 season.

The Top 7 Instagram Tools You Need to Grow Your Business AXcess NewsInstagram is an important business tool that you can't afford not to be using. With 500 million daily users, it offers benefits for businesses of all types, but it can be ...

'American Idol' results: 2 out of 3 local contestants make Top 7 6abc.comTwo of the local contestants made the cut Sunday night on "American Idol," but one did not.

How to fix white screen issue in iPhone X GizbotCalling the iPhone X an impressive piece of hardware is an understatement. Constant updates and making sure all their features top of the line is how they have ...

Top 7 strikers in the UEFA Champions League right now SportskeedaUEFA Champions League will once again host some fabulous strikers, record-breakers and trendsetters. We list the top 7 of them right now.

The top 7 sacrifices Americans are making to get richer CNBCA new survey reveals where Americans are cutting back to be more mindful of their financial future.

Top 7 Successful Cricketers and Their Business Ventures SportskeedaCricketers are setting benchmark on and off the field. They are very good entrepreneurs. Here are 7 cricketers and their business ventures.

Check out all the major features of the Huawei P20 in our unboxing and hands-on video TechNaveWe took the Huawei P20 through its paces with our latest unboxing and hands-on video showing that it is more than you'd expect. This includes features.

Top 7 Remote Access Apps For Linux DatamationThese Linux remote access apps will help you run your system no matter where you're located.

Pancreatic Cancer: Top 7 Risk Factors For Pancreatic Cancer Doctor NDTVPancreatic cancer causes are still unknown, but its risk factors can be outlined. Click here to know the risk factors linked to pancreatic cancer.

‘American Idol’ Finalists Will Tour This Summer VarietyAfter two years off, the “American Idol” live tour is back for a summer of concert dates, Variety has learned. The trek will be revealed on the program this Sunday ...

Top 7 defensive midfielders in the world SportskeedaThese defensive midfielders are currently the best in the business.

The Top 7 Ways The New Tax Law Could Affect Your Startup Forbes NowOn December 22, 2017, President Trump signed the Tax Cuts and Jobs Act of 2017 into law. The Act was the biggest change in tax laws in more than 30 years ...

College Orientation Tips & Advice: Must-See List & Details College CandyMake the most of your college orientation with these 7 tips that will help you get through orientation with ease! Read to find out what you should do before ...

How to use Smart Compose feature in Gmail? GizbotGoogle has brought the much-needed changes for Gmail by adding many new features to Gmail. It has given a new looked to Gmail, and it has brought the ...

How to fix Google Assistant no reply issues GizbotGoogle Assistant not replying and how to deal with it.

Top 7 Contenders to win the Champions League this season SportskeedaThe UEFA Champions League has seen Real Madrid dominate the tournament by a huge margin in the last few years. Winning the tournament thrice in a row, ...

Watch: Top 7 Songs on YOUTUBE this Summer 2018 EgypttodayCAIRO – 20 September 2018: During the current summer season, numerous Arab stars filmed clips for their songs and uploaded them on their official YOUTUBE ...

Dr Nick Fuller diet tips: Top 7 ways to avoid gaining weight over Christmas NEWS.com.auFOR most of us, our weight is going up every year. This can be up to one kilo per year for those over the age of 25 and even more as we get older and the body ...

Top 7 transfers that could happen on Deadline Day in the Premier League SportskeedaMartial? Dembele? Who could be the biggest stars to join Premier League teams on Deadline Day? Find out here!

Color her happy: Pittsburgh's Gabby Barrett reaches top 7 on 'American Idol' Pittsburgh Post-GazetteTo reach the top seven on “American Idol” Sunday night, Pittsburgh's Gabby Barrett did not have to be animated, just great at singing a Disney animated classic.

Entrepreneurs - 7 Business Mistakes You Must Avoid

Top Quick TipsTop Quick Tips