Being a business owner can be tough, especially if you’re new to the business management role. Nobody is perfect, and being in charge of a business doesn’t make you any less human. Business managers like Charles Bouri had to do a lot of learning through trial and error at the start of their role, and you’ll make a few mistakes of your own. While you will make some unavoidable mistakes, there are some more troublesome problems you can avoid if you’re prepared. When you start your new business, try to avoid these common mistakes:
Thinking you can do it all
The first few years of your business may have you doing a lot more “behind the scenes” work than you anticipated. It’s actually very common, and if anything it’s to be expected. You should be involved with your business, but you shouldn’t feel like you every little task has to begin and end with your supervision and approval. People hire employees and managers for a very good reason, mainly since business owners were never meant to have to do everything by themselves. If you feel like you have to do everything because you know that who you have on staff won’t be able to do it, you need re-evaluate your employees.
Keeping on troublesome employees for too long
Your other employees have complained about them, you can hardly get along with them, and even some customers have made a few complaints about them. An employee is bound to make a few mistakes, but continual problems are something that shouldn’t be tolerated. Some people are reluctant to fire an employee that isn’t working out because they feel like they’ve sunk too many hours into training them, but that is a perfect example of a sunk-cost fallacy. Others don’t want to have to deal with the hassle of finding another employee to fill their shoes. While both are valid points, dealing with an employee’s mistakes will end up being much more troublesome than having to get rid of someone.
Ignoring customer feedback
The only way you’ll know if you’re a successful business is to have satisfied customers, and you won’t be able to know that unless you take time to see if they’re happy with your goods and services. Customers and clients are the lifeblood of your business, and their opinions and feedback are very valuable. Most people just assume their new business is naturally doing well because they believe in it, but if you don’t have paying customers that share your vision your business days will be over. Always ask new and returning customers how they feel about your services.