Well, we all tend to make many kinds of mistakes while conducting business. So, when it comes to conducting any kind of business, what are some of the most common kind of mistake people commonly make. I think that not being able to get enough knowledge is one such huge mistake many people make.
What are some common mistakes people make in business?
- Thread starter Passiveearner
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Lack of business plan and proper analysis is the major reason why most business fail. Without proper plans and research, a business may not see the possibility of success.
The most common mistake is always putting on too much when you just needed to put in a very little. There is what we call "learning the ropes"
Any business person who treats his or her customer badly will not succeed in any business venture. You must learn how to treat your customers with respect so that they will continue patronizing you.
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Conducting business without knowledge is one of the biggest mistakes a person could make in his life. It is better to venture into a business about which you have knowledge.
Probably, i don't know why a lot of people make such mistakes. Maybe they're just interested in making quick profit.
Anybody who is going into a business without enough information will end up not succeeding. Information and experience is very important.
Well, I can name a few. Lack of paitence being the first one. People start business and expect to be millionaires when they wake up tomorrw which is not how it works. Business's needs a lot of paitence. Secondly, false advertising.some business people promise clients impossble promises and fail to meat them which then makes clients lose confidence in the business and as you know, word of mouth spreads like wild fire.
I think that one of the main mistakes is wanting to start a business without two things, one of which would be the knowledge and previous study to be able to open a fruitful and sustainable business, the second would be wanting to start it without having the money and borrowing to start it. I think that these two are mistakes to avoid.
Borrowing to start a business will only be a good option if you have proper knowledge of how the business works. That way you will have higher chances of succeeding in such a business.
Lack of proper business plan
Poor customer service
Not keeping to time
Poor customer service
Not keeping to time
Poor customer care is the major reason so many businesses do not succeed. Business people should understand that customers are the bedrock of their businesses.
Thats right, when customers are treated well they will always want to come back
Probably, that is why it is important to and employ people who knows how to relate with customers well in the business venture.
Improper analysis. Sometimes people dont study the demand Vs supply properly so their business fails. No forecasting or improper forecasting is one of the reasons why a business fails. The majority of them fail because of the lack of funds as the entrepreneur could not be able to restrict the expenditures and ultimately gets loss in the business.
Also even if you know well how the business works is still risky because in times of crisis or recession everything can go to hell quickly, it is always better to use your funds and have an emergency fund for these cases.
