5 ESSENTIAL DON'TS TO GROW YOUR BUSINESS

 Growing your Startup The Right Way.

Many different issues must be considered when starting a small business. It is important to plan properly and avoid common pitfalls. As you decide whether or not to start a business, consider the suggested don'ts below:

#1. Don't think too highly of yourself

Here's an easy rule of thumb: never say "Do you know who I am?" Most business owners don't make it that blatant, but many people whip out some form of the I'm too important for this card. Maybe the line is too long at the grocery checkout counter or the service isn't sufficiently "personal" enough at the apple store. It may be true, but it doesn't mean your time and satisfaction are more important than everyone else in the same situation. People will always like you better when you don't act like you know you're somebody, or that you think it entitles you to different treatment. The last thing your company needs is stories being passed around about what a jerk the owner was at the grocery store last week.

#2. Don't ignore what's happening in your market

Businesses have always had to adapt to evolutionary change as production techniques and consumer preferences evolved. In recent years, rapid technological changes and globalization have made revolutionary change increasingly common. Failing to adapt can cause businesses to flounder.

#3. Don't do everything

Being a small business owner in the business world is one of the hardest jobs around. Even if you try to complete all the things, from preparing the business plan, managing the finances and incorporating your business, you may burn out fast. The attitude of doing everything for the company at one time to protect the company from your rivals and future goals, can end up hurting your business. It is always advisable to analyze all the things before you spend your time on them. More importantly, motivate your employees to improve and keep everyone inspired to work toward the next goal. You might also seek help from local business owners and business experts who already have experience with what you're trying to do to grow your business.

#4. Don't over-promise and under-deliver

If you can't make good on your promise of same-day shipping or hassle-free returns, don't promise them in the first place. Customers today are skeptical of flashy advertising and bold claims made by companies that have yet to establish themselves. The last thing you want to do is make customers distrust your business by not keeping your promises. Instead, stick to the facts and consider omitting some factual statements that could potentially be misleading as well. Strong businesses are built on brand loyalty, which isn't possible without first earning the customer's trust.

#5. Don't rely on informal contracts

Try to put all the contracts of your business in writing, whether it is in email or on paper. In growing the company, you can't rely on verbal informal agreements. Keeping the written agreements for your company ensures the business's purpose, partner contributions and voting rights. More importantly, you should create written agreements when working with lenders, investors, business partners and other businesses in order to stay away from any legal issues.

Conclusion.

Sure, the logistics of a business can certainly make it or break it. But one thing that all successful businesses have in common is passionate, persistent leadership. Ask some of the most successful entrepreneurs the key to the success,  and many of them will say it's their tenaciousness.

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Written by: Antony Moturi

   About the Author: 

Antony is a professional DJ, Pianist, Social Media Manager, Content Creator and a Blogger. Besides that he does professional Sound Engineering, Public Speaking and is a Youth Leader.