How you operate your business will depend entirely on your management type and your personality. However, before you can get to that point you first need to establish your business. During this process, there are a number of forms, approvals, and decisions that you need to make that it can be easy to become overwhelmed and make mistakes.
And while there are always going to be some mistakes that you make along the way, there are other mistakes that many other owners have made which you can learn from. Important mistakes that can determine the success of your business, such as those below.
You Do What?
And what was the name again? This isn’t a conversation that you want to have with any potential customer or client. However, it’s a common conversation had by many new business owners, simply because they tried to use a flashy name. For example, a store called Mark’s Warehouse or Your Local Space doesn’t tell people anything about them. However, a store named Mark’s Furniture Warehouse or Your Local European Beer Joint immediately tell people what you do. When choosing your business name, consider something which can help to sell your services to customers before they pick up the phone and call.
Don’t You Have a Website?
There was once a time when only big companies had an online presence. This was largely due to the high costs when the internet first started. As technology has progressed, however, the cost barrier has been significantly lowered. Sites like the Groupon Coupons page for Lenovo have a range of basic computers for low prices that any business owner can include in their budget. A simply laptop and an internet connection is all that any business owner needs to design and launch a website along with managing their online presence, such as social media pages.
Whether you are just a local corner store or you are looking to launch a clothing brand, a website presence is no longer an option, but it’s now a requirement for any business looking to succeed.
Choose the Right Location
Many business owners start the process with stars in their eyes, thinking about their future riches and how large their company will be. With this dream in their head, they often choose expensive real estate away from their main customers. While this may give owners a fancy space to work in, it may not be accessible to clients.
When you are considering where to place your business, think about where the clients actually are. The perfect example would be to set up a 24 hours legal advice service on the same street as a police station.
Where is no hard and fast list of mistakes to avoid, these are three of the most common and are easily avoidable with a bit of time and energy. If you are looking to start a business, be sure to keep this post in mind and prevent making the same mistakes as many business owners have before you.