Biggest Things for Small Businesses To Avoid
Bad Customer Service
Customer service isn't just about being polite to your consumers. It's also about delivering on what your customers actually want and need. Are you taking surveys and accepting customer feedback? More importantly, are you implementing necessary changes? Bad customer service will kill your business. Address any issues that surface from your clients, whether it be from an online form or face-to-face feedback. Do a gut check on a regular basis and ask yourself if you're delivering on your promises.
Financial Management Woes
Small businesses live and breathe by their finances as much as, if not more than, their larger counterparts. Get familiar right away with essential financial cornerstones such as balance sheets, income statements and revenue forecasts. Use QuickBooks Online or FreshBooks to establish healthy financial management. Only hire new staff when you have the revenue secured to pay for their salary.
Lack of Differentiation
No Working Capital
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