Download presentation
Presentation is loading. Please wait.
Published byAria Sherrin Modified over 9 years ago
1
Mistakes Not to Make Or Learning From Others
2
There are an abundant list of resources sharing examples of mistakes business make. These include Fortune, Wall Street Journal, Forbes, Inc. and the list goes on. There is a common thread… here is a list from the their “view from the top”.
3
Watch the following list. It can be broken into several categories. The most important is new versus existing business. Here size doesn’t matter.
4
Undercharging for the product or service provided Concentrating on one only one piece Extending credit too easily Thinking about taxes after the fact
5
Don’t have a plan of attack Don’t know how to hire AND keep good employees Don’t provide outstanding customer service
6
Economically dependent on a small group of customers Emotions get in the way of sound business decisions Fail to develop (personally) as a leader or manager
7
Trying to get rich quickly Assuming you have no competition Being all Business – all of the time Setting unrealistic financial goals
8
Having no rally point Cutting prices No clear marketing strategy Not being forthright
9
Trying to do it “all” Starting with a large loan Planning on making a profit right away Spending too much at first
10
Hiring employees not needed Renting space not needed Not knowing how to collect bills Not planning for cash flow problems
11
Choosing wrong ownership structure Getting into debt Not involving the family Starting for the wrong reasons
12
Poor management Insufficient capital Location Overexpansion
13
And Finally No website If you weren’t counting that is 35 to learn from others
14
Warning: “Not Planning” Is Not In The List
15
My Baker’s Dozen Plus Not in any priority
16
Not recognizing the 80-20 rule
17
Don’t know what they don’t know But think they know
18
Not being “visible”
19
Hiring “F”s Friends, Family, or Friends of Friends
20
Lack of branding
21
Not knowing the difference between “marketing” & “sales”
22
Putting marketing and advertising down on the priority list
23
Underestimating expenses or the opposite
24
Losing track of The core business
25
Not knowing the 3 or 4 Key drivers
26
Looking for people to tell you what you want to hear
27
Not having a personal experience base
28
Focus on short term
29
Lacking a basic management skill But too busy to learn
Similar presentations
© 2024 SlidePlayer.com. Inc.
All rights reserved.