Running a business even though its a small and successful, isn’t easy. From long hours to make ends meet, day to day operations, and monitoring employees, its hard work. As a business owner, along with the rewards you must also be aware of the pitfalls when operating a business.

Don’t Clutter your Day Plan

You may start out with good intentions of having an organized to do list. But if you fail to plan your day properly, cram in more activities than you can manage, you tend to become easily distracted and reactive, thus diminishing your productivity, and also your revenue. Instead of a one day plan, a 3 day plan will give you more leeway to meet deadlines, demands and making better decisions. You will not overbook your future and and postpone some activities if need be. So stay with a 3 -day plan, it improves time control.

Don’t try to do it a All Yourself

When you have employed people to perform certain tasks, there’s no need for you to micromanage and waste your time and also the salaries you are paying out. Delegate and get on with more important things like business planning for expansion. You may think that training your employees is a waste of time, but well trained employees can save you hours and hours of time per year. Don’t fret with the small details, focus on the bigger picture.

Don’t let online distraction engulf you

Your inbox is full and you feel overwhelmed by the amount of mail you have to deal with. Dealing with the communication deluge will seem an uphill task. The best way to manage it is to limit the time you check your email to certain slots of the day so that the constant ping of of a new message does not interrupt you. Also be sure to unsubscribe from any recurring e-mail which you find irrelevant. If social media is a problem, find tools which will enable you to put up a wall between your computer and distracting sites.

Plug the expenditure Leaks

Keep a close check on monthly expenditure and if you find any unwanted subscriptions, programs that cost money, any errors in your utility bills and any other incorrect or unnecessary charges, its time to eliminate them, which will add up to savings in the long run. Every quarter make sure to review where your money is going. Proper business planning should take this into account.

Energy draining Employees

If you find that an employee is not good enough for the job or is unhappy with what she or he is doing, it is better to end the relationship quickly. Such employees drain the energy out of the business and leave you dissatisfied and disgruntled. You are the boss so you have every right to change the situation. Try to correct the individual and if that is not possible, discontinuing the relationship is the best option .

Don’t Procrastinate

Putting off tasks till the last minute is one of the biggest deterrents to productivity. Procrastination if the enemy of growth and sorely affects your business planning. If the task seems too big , break it down into smaller tasks and figure out what part of the project you can finish on time.

Entrepreneurial Learning

There comes a time to when you need to clean the clutter and its time not only to get rid of unwanted things in your cabinet, its also time to have a re-look at your business planning and your productivity graph and weed out the factors that may be draining you and your company of time, money and energy. Avoid these pitfalls to keep your business up and going.

Leave a Comment

Your email address will not be published.

You may also like

Growing a Business

Want Great Guidance ? Find yourself a Super Mentor

post-image

They are the gods of small businesses, those inspired individuals who have achieved the highest levels of success. They can be the shining beacons who light up the path of running your business with their vision, wisdom and wealth of resources and contacts. They are The Mentors.

If you are fired with the passion to take your business to great heights, the best thing to do is find yourself a super mentor. Here are some tips to help in your quest

Pinpoint your Need

Sit down and focus your thoughts on your business growth strategy. Which area of the business needs a lift. Is is staffing, is it the finances, is it the production, is it the your lack of customers or is it the business as a whole that needs a makeover. Once you’ve zoomed in on the sore spot, this is where you need…

Read More
Growing a Business

Dreaming Big? You can Move Mountains with these Business Productivty Tips

post-image

You may be full of admiration for some people who seem to manage themselves and their work so usefully and efficiently. They seem to fit in so much productive work into the same number of hours which everyone has.. Let’s look what makes them tick and take a few tips.

Learn to identify your most productive hours

Its true, most productive people know which time of the day they can be most creative and efficient. They identify and allot these hours for the best part of their work. This way they are able to give their 100% awareness to the job and business productivity.

Early to rise- A winning habit

Waking up early is a personal habit that has all the plusses on its side. You need not necessarily go to work that early. It’s a habit that gives you more time for personal care, like mediation, exercise, walking,…

Read More
Growing a Business

Leadership Qualities that can make you an Icon

post-image

You may have reached the leadership position through sheer dedication to performance and a do or die attitude . Now that you are at the top, your viewpoint needs to change. You have to now be a role model, one whom others will look up to and follow. Here are some tips that can shape your leadership and management skills

Be Competent: Employees will look up to a leader who has good industry knowledge and management skills. If you do not possess these skills you should surround yourself with knowledgeable people who can offer good counsel. Competence is a trait all employees will admire.

Be Trustworthy: No one will look up to a person they cannot trust. Your employees will want to rely on you and count on you. In difficult situations, leaders are expected to apprise their employees of the situations and find solutions on how to address…

Read More
Raising Money

Are You offering Your Services Using the Right Pricing Strategies?

post-image

In these times of fierce competition, business people , mostly those that offer services and belong to the service based industry, are finding it a challenge to implement the right pricing strategies. It is virtually a struggle to set the right business price that will retain and attract the customers, and not drive them away. Follow these tips, the crucial dos and don’t s and you may be in a much better position to offer your services at the best price.

Maintain your Business identity and Dignity

If you are offering a unique or special product or service, don’t underrate it just because you want to build a better relationship with the customer. This will just cheapen your offering as another run of the mill. If its something special you are offering the customer, then communicate this fact to the client and get the equation right with the most…

Read More
Raising Money

What is a Fair Wage? How Do you Assess Fair Wage?

post-image

How do you figure out a fair wage?

This is a very common question for startups and small businesses. They can’t seem to decide or understand how to set wages and manage reputations at a time. They are determined to pay well but they also have to think about encouraging their employees to stay with them for a long time. This is why there is a need to think strategically.

Listed below are a few expert tips to help you decide:

Don’t Focus Only on Money

Money should never be the main focus for you or for your employees. You should decide on the wages in such a way that your employees are tied to your business. When your business does well they should be able to taste that success and vice versa.

Also, think about additional perks such as exclusive benefits and time off. Many employees value this more than the overall…

Read More
Raising Money

Tips to Winning Hard Negotiations With Ease

post-image

While some negotiations are easy, others are quite hard to win. If you stumble you will lose.

Whether it is a potential client or an investor, negotiations can be very tough and frustrating. The problem is that the moment you let your frustration overwhelm you, you will lose the deal and you will give in to whatever is being offered to you. In order to avoid that, here are tips to overcome tough times and to win even the hard negotiations:

Research!

Know your opponent as well as possible. This is the rule no matter what you do. You should understand your opponent to the T. Who the person is, what his culture is, what he thinks, what he stands for, how is his network, etc. are the questions you should ask yourself and answer through research before meeting up for the negotiation. Understanding the opponent will give you a great advantage.

Walking…

Read More