Navigating Around These Small Business Pitfalls

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Even with the greatest preparation, if you're running a small business, it is likely that you will make mistakes, or at least do things that you look back on in the future and know you would then do differently. Here are a few examples of common mistakes made by entrepreneurs, so that you can take the necessary steps to avoid them.

1. Overspending: In our society, there is a tendency for businesses to fully stock the shelves and we, as customers, have been conditioned to believe that if a business's shelves are not fully stocked, then perhaps they're not doing very well and we should shop elsewhere with more variety. However, we must combat this and retrain ourselves to know that less is better. In the United States, over 40% of food produced, or 133 billion pounds, ends up in a landfill. FORTY PERCENT. And yet people live in food deserts, are malnourished, do not have access to healthy foods due to proximity or financial means. You have the power to make sure your business is contributing as little as possible to landfills, helping the planet and your budget.

To deal with overspending, it's recommended that you hire an accountant or learn programs such as Quickbooks, which will help you keep a good balance. Also, shop around for the best deals when it comes to services that your business may require.

2. Health and Safety: One of the top priorities for your business should be the health and safety of your employees, customers and anyone that passes through your business. By having protocol in place, giving your employees ample time to complete tasks and frequently inspecting your workplace for potential hazards, you can save money by not having to pay for lawsuits that may occur as a result of an accident.

There are various industry-specific steps that you can take to ensure that you achieve the right standards of health and safety for your business. For instance, if you run a restaurant, you may want to invest in a hood cleaning service. Restaurant hood cleaning professionals can eliminate potential fire hazards that could be lurking in your kitchen.

3. Bad Customer Service: Let's face it, the customer is NOT always right, and anyone who's worked in retail or the restaurant industry can attest to this. But consistently dismissing or rushing customers can cause people to not return. While ratings apps are rigged in favor of those who pay to play, word-of-mouth is still important and the better you treat most people, the more likely they are to become a loyal customer that brings back friends and family or recommends your business on social media. 

We hope that these have given you some insight into where to take precautions when first starting your business, as well as what to look out for as your business continues to thrive.