How to Avoid 6 Common Mistakes Small Business Owners Make

It’s hard to know what you don’t know. And that applies to small business owners, too. We see even the most experienced entrepreneurs making the same mistakes over and over again simply because they’ve never known a different way of doing things. To help you find success, here is a list of how you can avoid some of the top mistakes small business owners make.

1. Take the time to market your business. Nowadays, we have the advantage of having social media and email marketing campaigns that allow you to reach a wide and varied audience like never before at a minimal cost.
2. Don’t spend too much time on administrative tasks. There’s no way around it; you have to do the paperwork. But if it’s sucking the life force out of you, it might be time to outsource it. For example, you can easily outsource your legal needs to experts who can make sure that you have the proper company setup and tax structure at all times, giving you peace of mind.
3. Hire staff that fits with the company values. And as a small business owner, these are your own values. It doesn’t matter what dazzling skills an employee has. If they don’t share your vision for the business, it will create trouble down the road.

This is especially true when going into business with friends and family or hiring them as employees. It doesn’t matter how much fun you have at Thanksgiving dinner or how much they insist that you’d work well together. Having to discipline or fire someone you know is a relationship killer. So don’t make a personal relationship that you can’t afford to lose into a professional one, as it’s a sure-fire recipe for disaster.

1. Have a plan. It’s not the sexiest part of creating your own company, but if you spend the time and energy creating a solid business plan, you’ll have a roadmap to guide you through all the decisions you make and to help you communicate with potential investors. It doesn’t have to be super complex or technical, but it will be your guiding star in the future.
2. Invest in excellent customer service. Making the sale is crucial, but it’s only the first step. You want your customers to become your most faithful advocates and take your image to the next level through word of mouth. So make sure they’re cared for even after the sale.

Solving customer complaints promptly is a must, and keep them up to date with everything you’re doing so they can share it with others. Plus, customer feedback is gold when knowing if you need to make any changes to your products, so listen to the people that have already trusted you with their purchase.

1. Employees come first. Yes, we know that everyone else says it’s customers, but your employees are the visible face of your company and the ones that will help you reach your clients in the first place. Make sure you look after them, give them great employee benefits, and above all, pay them on time! Quickbooks and other accounting software offer great payroll modules. Software like this can schedule your payroll, calculate and file taxes, and manage employee benefits. Payroll platforms make small business owners’ lives easier (especially on pay days and during tax season), and they instill confidence in your staff that they’ll always be paid on time and in full.

Avoiding some of these common pitfalls can help make running your business smoother and maximize your chances for success. And above all, they can let you focus on the main thing- doing what you love, which is the reason you started your own company in the first place. We hope these tips will help you in your entrepreneurship journey!

Guestpost by Christopher Haymon.