These 3 things will lead to the untimely death of your business
In todays competitive environment where it’s more difficult than ever to survive and flourish as a good business, there are some really avoidable things that many business owners do that leads to the untimely death of their business.
Do not make bad deals when the cash flow is bad – Yes, you are desperate for money but that does not mean you will take any bad deal that comes your way. Some commons things to avoid are taking deals without signed contracts, closing deals with promises you cannot deliver upon etc.
Surviving through discounts – If you end up discounting your product to majority of your customers, you clearly are not confident about your product and are undermining its value.
Not valuing your time – Old advice , time is money. Stop wasting it on things that don’t generate revenue. It’s good to deliver results that are beyond your clients expectations sometimes, but do it regularly and you will find your clients expecting miracles from you everytime. Deliver what you promise, charge anything beyond that. Furthermore, if you are driven by wishful thinking ( working for free will hopefully get me paid work, working with this not-so-important person in the company will help me have his/her seniors as clients etc), you are wasting your time too.
Make sure you avoid these things to help your business thrive.
Summarized from The 4 deadly sins sabotaging your business.