You make choices that affect your business daily. It pays to step back every so often and gain a little perspective. Even though you’re making company decisions with the best intentions, some of them may undermine your company.
When you run into a wall, think, or you will do it again.
Everyday Decisions That may Undermine Your Business
Do any of these 15 decisions sound familiar? If so, consider the way they may be damaging your business.
- Your customer likes you so much they will request something beyond your capability or expertise — A person satisfy their request, expecting that any misstep won’t diminish rely on. Remember… Trust takes a long time to develop, however it can be destroyed by a solitary action.
- You let your salespeople discount products rather than justify the sale based on the value supplied. — You hope salesmen don’t make discounting a habit. Remember… Negative behaviors produce negative results. Market value, not price.
- You rush an item or service to market despite the fact that it’s not ready for prime period — You hope you are able to work out the bugs prior to customers notice. Remember… If you believe you can bluff your way through lifestyle, you’re kidding yourself.
- You accept purchases even though you don’t have enough item to satisfy demand — Instead of being upfront with customers, you pray no one will get upset with the delay. Remember… Half the truth is usually a whole lie. Always inform the truth, or the truth can tell on you.
- You begin to sell your luxury products in mass-market retail stores to boost sales. — You hope this won’t tarnish the exclusive brand name. Remember… The future you get depends on the choices you make. Seeking to be all things to all people is a guaranteed recipe intended for mediocrity.
- You slash prices to fight a temporary downturn. — A person hope customers won’t anticipate you to offer those costs forever. Remember… An impression is as difficult to undo as your past.
- You build a reputation based on being readily available to your customers. But with sales booming, you substitute inexperienced colleagues for experienced types. — Rather than investing in their own training beforehand, you expect beginner employees to learn on the job . Remember… Your reputation matters. You can not run from your shadow.
- Even though you’ve never ever accommodated large groups, a person make an exception because the opportunity becomes available. — You think, whenever we can serve parties of 30, we can easily adjust to accommodate parties of 300. Remember… When you think you are fooling the world, you’re only kidding yourself.
- You focus solely upon sales rather than investing in your own brand as well. — You expect sales to bear fruit these days, while a brand takes time to yield results. Remember… You will find simply no shortcuts in the long run. Do something for the right reasons as well as the money will follow.
- You decide to cut costs even though it’ll tarnish the customer experience. — You assume that you may shed a few customers, but you’ll be able to replace them. Remember… The best way to attract new customers is to keep existing types happy.
- Although you’ve reached maximum capacity, you squeeze in a few a lot more people to boost revenue. — You ignore the fact that the crowded venue may adversely impact your existing customers. Remember… Appreciate what you possess, while you have it, or you will see what it meant to you once you lose it.
- You discount your support and cut corners to compensate for the low price. — A person assume customers will anticipate less and cut you some slack. Remember… Less expensive isn’t always less expensive. You can’t cut your way to superiority.
- You make policy changes that benefit your business rather than customer convenience. — You spend more time completing internal paperwork than adding customer value. Remember… With out customers, you have no company.
- You slash the price of your product to pay for its poor reception available on the market. — You assume clients will like the product more due to the fact it’s cheaper. Remember… It’s better to address the real problem rather than putting a band-aid on it. Problems don’t get better with age.
- Your customer asks you to do something unethical that makes you feel uncomfortable. — A person agree to their request, convinced that it’s just one time and no one will find out. Remember… Knowing what’s right is not as important as doing what’s right. One of the genuine tests of integrity is the refusal to compromise your own honor at any price.
Are You Producing Costly Business Mistakes?
Please depart a comment and tell us everything you think or share it along with someone who can benefit from the details.