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Entrepreneur's Corner

5 Mistakes You Should Avoid as a Business Owner

BY Soko Directory Team · November 9, 2021 08:11 am

KEY POINTS

Every successful organization has a system that is built of an actual team. Every member of the team appreciates they have a role to play and are smart enough to take responsibilities upon failures.

Staying in business and gaining massive growth for your business is always at any entrepreneurs’ fingertips, many a time though, power gets into your head and the dream to build an empire is forgotten.

How do you resurface, claim the lost clients and boost your employees’ motivation and teamwork? You could start by avoiding the listed mistakes below;

  1. You are the only one who can do it right

Human beings are different and bring on board varying ideas, one idea can be improved by another and so forth.

Learn to delegate to people you feel you can trust to do the right thing and give them the space they need to deliver. A good number of employees harbor great ideas that would improve your business but are unable to unleash their full potential given lack of training.

Your business is likely to never head anywhere if you always choose to control everything because you think you are the only one who can get it right.

  1. Lack of a system

Every successful organization has a system that is built of an actual team. Every member of the team appreciates they have a role to play and are smart enough to take responsibilities upon failures.

A system is not built of threats and bosses; it is built of teams and team leaders which ensure a feeling of commitment and pride motivating the very best out of your employees.

A system ensures accountability which eases the ability to determine productivity.

  1. Proper recruitment from the first time

The hiring process determines the type of employees your business will have and whether it will ever take off!

Recruitment should be based on merit and not nepotism or corruption. Getting the right employees does not only mean their qualifications on paper but also their attitude.

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Employees are like devices, some are smart and do not require your supervision to be productive but a good number of them are like wheelbarrows; you have to push for them to do the most minimal tasks.

The most dangerous aspect of wheelbarrow-like employees is that they are likely to drag the smart devices with them.

  1. Work with your employees

Listen to your employees don’t just push them to work because they will not deliver their very best that your company requires.

It is true they need the job but don’t you need them? Train them where you feel they need improvement and give them the space to work, build a sense of belonging for them in the organization.

Micro-managing and threatening employees is a recipe for failure for the organization.

Lead by example, the employees need to see how important your business is to you to motivate them to work.  Provide your employees with written guides of your expectations of each one of them and avoiding mixing up roles as it causes confusion on what they ought to prioritize.

  1. Serve your customers as if your life depends on it

The customer is and will always be right, your employees will only know that through how you treat the clients yourself; actually, the organization is always at the clients’ mercy.  You can never over-deliver to a client if you want repeat business.

Smile even if it’s the last thing you want to do, be reasonable in your negotiations, without over-valuing or undervaluing yourself, and most importantly, be respectful.

Listen more and talk less with frequent smiles when its necessitated and follow up with your customer after the sale.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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