POSTS TAGGED : business mistakes

5 Ways to Minimise Error in Your Business

If you’re running your own business, understandably, you want to do everything possible to ensure its success. However, mistakes are inevitable, and occasionally they can cause chaos within your company.

Minimizing business mistakes

While you may not be able to eliminate them completely, there are ways to keep them to a minimum. You just need to plan ahead and follow a few different strategies.

Below we are going to talk about five ways to minimize errors in your business.

Want to learn more? Then keep on reading.

Locate areas with weaknesses

The first step in minimizing errors is to locate the areas where they are happening.…

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8 Mistakes Young Entrepreneurs Should Avoid At All Costs When Getting Started

While there are several ways to make a new small business successful, there really is only one way to do it right. That would be to follow the tried and true guidelines that have been set forth by the millions of successful entrepreneurs who have already succeeded.

Entrepreneur mistakes

As you set forth to start your new business, you would be best served to follow the aforementioned guidelines. This would be the surest way for you to position yourself for success.

Remember, you have to worry about two things. First, you need to concern yourself with doing things the right way. Second, you need to simultaneously avoid making the same mistakes that seem to destroy far too many businesses before they can really get traction.…

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What Are the Biggest Mistakes You Can Make as a Business Owner?

When you own and run a business, the marketing aspect of it must be done correctly. Your prospective consumers will not know you exist until you advertise to them, and they will not come to you to purchase your products and services unless you market to them.

Serious business owner

This is just one of the many mistakes that a small business owner can so easily fall prey to. Therefore, it’s crucial that you research what it takes to be a business owner and even find a mentor if you can – after all, they have already been through your mistakes and can help you avoid them entirely – if you want to be successful.…

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5 Business-Related Mistakes You Don’t Want to Make with Your Startup

If you have a business you’re just trying to get off the ground, this might be an exhilarating time for you. Maybe you’ve thought about this startup idea for years, and you finally found the funds and means to get to work on it. Doubtless, you want it to succeed, and you’re going to dedicate lots of your time and resources to make that happen.

Startup mistakes

During these early stages, though, it’s easy to make a mistake. Unfortunately, there is no limit to the business-related missteps you can make.

Some are more common than others, though, and those are a few of the ones we will address today.…

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When Spreadsheets Go Wrong: 5 of The Biggest Spreadsheet Fails in History

Spreadsheets are ubiquitous in modern day life. Used for everything from creating company budgets and managing personal finances, to calculating tax returns and producing graphs and charts, it’s no surprise that around half a billion people worldwide use Excel alone. But although spreadsheets are undoubtedly useful, like with any form of electronic document that stores data, they come with certain risks.

online spreadsheet

Because of problems like weak security measures and version confusion, it’s all too easy for things to turn sour. As noted by low-code application development software company EASA: “Issues like version confusion, cell type mismatches (for example numbers being recorded as text) and intellectual property vulnerability may occur, bogging down business processes, creating risks, and even derailing projects entirely.”…

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10 Common Mistakes Small Businesses Make

There are hundreds of mistakes business owners make when it comes to running their own companies. They vary from the website mistakes to incorrect usage of effective business tools.

Statistics shows that most mistakes are very common and are made almost by 95% of all business owners. Recommendations to wanna-be entrepreneurs often include what they should do to become successful in their businesses, but rarely mention what they should avoid to do, although it is equally important.

Small business owner reading newspaper

Today, we are going to talk about what we personally consider the biggest mistakes often made by small business owners. Avoiding these mistakes can save the business you are working on.…

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8 Huge Inventory Management Mistakes

Inventory management is way more than taking a tally of boxes in your warehouse every six months. In fact, an updated inventory management system can give you all sorts of insights into your business, from tracking seasonal trends to understanding why certain products aren’t selling. Yet, plenty of companies continue to perform manual counts, making all sorts of egregious mistakes that cost their business vital money and time.

Inventory manager is making inventory management mistakes

Here are some of the worst inventory-related blunders made by more businesses than you might expect.

1. Refusing to Spend Money on Inventory Tools

Among new business owners, there is a rampant misconception that all you need to manage your inventory is paper, a writing utensil, and a strong ability to count, so it seems that spending money on inventory management tools is a massive waste.…

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Stop Profit Shrinkage: Small and Sneaky Ways Your Business is Losing Big Money

There are more ways to lose money in business than to make money. In fact, if you’ve been in business for any length of time, you know this adage can ring very true. Here are a few mistakes that have killed even successful businesses.

Frustrated businessman making business mistakes

Too Many Meetings

The 1980s called — they want their meetings back. If you spend more time in meetings than you do making sales, then your business is in trouble. Having too many meetings is the hallmark of a company that can’t find itself, doesn’t know how to turn a profit, and spends way too much time trying to compensate for poor marketing.…

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6 Common Spending Mistakes New Businesses May Make

Most of today’s small businesses experience failure during the first few years of their operation. Whether it’s a lack of planning at the beginning or some other pitfall, there are common mistakes you need to avoid in order to stay alive. You can boost your company’s chances by avoiding the six following mistakes.

Startup mistakes

1. Begin Your Business with a Huge Loan

The first two years of business is critical for small business owners. Since many fold at the beginning, you want to ensure that you’re getting the most out of your employees. Although you want to focus on efficiency and meeting deadlines, you also want to set a positive environment for your employees to work in.…

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Self-Employed at Last: The Top Common Blunders to Avoid at Any Cost

Being self-employed is a lot of fun, but it’s also a lot of work. Most new business owners make a lot of mistakes. Here are some of the most common, and how to avoid them.

Making business mistakes

Failing To Budget

Small businesses are especially prone to accounting mistakes, unless they happen to be accountants.

Make a budget, and stick with it. Budget out, to the penny, how much money you need to keep the doors open. Then, round up. Yes up. Add in 10 percent to that rounded figure. This gives you a nice cushion – a safety net – that hopefully you’ll never have to use.…

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