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10 Most Common Mistakes Made By Business Startups-Part II
Published at 2012-10-19 01:09:59
This series of articles will help you avoid the most common mistakes start-ups make!
 

Inability to Hire or Keep Good Workers

 Business owners usually do not possess the ability to handle their employees properly. They commit glaring mistakes while hiring new employees and also fail to recognize the good working capabilities of those working with them.

 A good worker is valuable for a company or business. Sometimes the success or failure of a small business largely depends upon the employees. It is therefore vital that appropriate persons are hired for the job.

 When hiring an employee, you should have reliable information about his work experience, required skills for the employment, and above all his lifestyle; because his lifestyle can unquestionably influence the performance at work.

 Similarly, good workers should be praised verbally and their good performance may somehow be rewarded.

 Ineffective Customer Service

 Providing a good customer service is the key to the success of a business and is by far the most effective and easiest of factors for attracting potential customers to your business. It is important to present exceptional customer care and if you manage to do this it is like planting seeds which in future will yield loads of profit.

 It is a common fact which many business owners do not realize and lose lots of business which they could have gained with a little bit of effort and enterprise.

 Depending Your Business on a Small Customer Base

 It is not a good practice if you depend upon a small number of customers as there will be no chance of expansion of your business. In the initial phase it feels good to attend to a few customers with lesser workload and botheration; but a business thrives on the customers and grows as their numbers increase.

 If you as a business owner fail to acknowledge this fact, you will pay the price at the cost of your faltering business.

 Making Emotional rather than Wise Business Decisions

Business owners who let emotions override their power of decision making end up with wrong decisions which prove harmful for their business. These decisions may include buying unnecessary equipment which may dent the capital; hiring inefficient and bad employees; keeping an inept worker by having pity on him; purchasing useless items under the influence of advertisements; etc.

 In order to make your business sustainable and successful you must rely upon wise judgment and advice.

 Business Owners lack Leadership and Management Qualities

One of the most basic and vital requirement of a successful business owner is his/her ability to manage the business properly and with qualities of a team leader. This ability is not difficult to attain, a sound business knowledge and skill of learning at work is the fundamental basis.

Once you start the business, everyday experiences will teach you about the various problems and their possible solutions and if you grasp the condition with sound judgment and make wise decisions, the business will flourish. Learning at work is a regular and ongoing process and is a positive trait of successful businessmen.