Attention Small Business Owners - 5 Deadly Mistakes You Must Avoid at All Cost!

1. Not providing genuine appreciation for employees

The number one psychological need of people is the need to feel appreciated. Yet too many business owners ignore this because they think the pay check does the trick. But the more you show your employees that you value and appreciate them, the longer they are likely to stay with you...and the more valuable they become.
You can show your appreciation with little touches like a thank you note, or by simply acknowledging when things are done right. You can recognize birthdays with a card; reward achievements with a paid day off or by offering flexible schedules; or you could have a staff meeting at the park on a sunny day where everybody gets to contribute ideas on how to make the company more successful.
Employees need a clear sense of purpose to feel good about their contributions. This can be accomplished by creating clear job descriptions and always keeping your employees informed about important news that concerns the company. You don't want employees to hear something important through the grapevine.

2. Diving in the deep end before testing the waters...

Always start new projects or campaigns by beta testing them on a smaller scale before going all out. Don't be like the business owner who sent an expensive direct mail piece to 15,000 businesses without generating any sales. Instead, beta test a mailing with 1000 pieces. It's an effective indicator, yet offers a 90% savings!

3. Not being able to explain the purpose of your business in a single sentence

You should be able to pitch the essence of your business in a single sentence.
This is vital when you are trying to acquire new customers, or when you meet somebody at a business networking event. For example, at our company we would introduce ourselves by saying:

"At Thought Leader Publications & Training, we help people succeed by interviewing decision-makers and sharing their expert advice in our books, e-learning courses and workshops."

Or if you sell corporate travel services and you have several accounts in the financial services industry, you could call potential clients in that industry and say:

"We specialize in saving financial institutions time and money on their travel arrangements."

If you can create this one sentence that shows the benefits of doing business with you, you will increase sales!

4. Not asking the right questions when making business decisions

The quality of your business decisions can be the difference between success and failure.
When you're faced with a key decision, ask yourself two questions:

What is the cost of doing it?
What is the cost of not doing it?

These questions are vital when weighing the pros and cons of key decisions. Too often people look only at the cost of doing something. If you don't ask yourself the second question, the cost of not doing it, it may end up costing more. When you ask these questions, don't just consider the obvious factors such as money. Make sure you examine "soft" costs such as time, effect on business relationships, lost opportunities and impact on corporate culture and employee morale.

5. Not delivering consistent service

Imagine if a national restaurant chain allowed the staff at each location to greet customers however they wanted, let them decide whether or not to wash their hands before cooking, let them cook differently on each shift or decide when to open and close. Chaos!

An Operations Manual outlines the one best way to handle each repeatable task and process and reduces the chances that your customers will have unpredictable experiences. People look for a predictable experience with companies they do business with. An Operations Manual helps ensure your customers receive better quality products, services, and experiences every time they deal with your company.