The Small Business Errors That Can Lead to Massive Problems

We all know that some big errors can immediately lead to equally massive problems. There is no doubt that there are a number of business mistakes that you will want to avoid like the plague.

Yet, what about the smaller issues that you might not have ever placed such importance on in the past? The truth is that these errors might not be minor as they first appear to be.

Making the Price Marginally Too Low

When you set the price for your products or services then you are probably only too aware of the risk of getting the price wrong. However, what if the price is only out by a relatively small amount? That isn’t going to be a problem, is it?

Well, it could be that this small mistake leads to far bigger problems in the future. If your margins are tight then you could end up losing money on every sale rather than making money.

Worst of all, this is the kind of mistake that could take some time before it becomes evident. Because you are just losing out on a relatively small amount each month you might not notice as the losses build up.

Obviously, a similar mistake can be made when you put the price a shade too high. In this case, a marginally higher price can lead to people going elsewhere rather than doing business with you.

Sending Communications to the Wrong Place

Not every company pays as much attention as they should to the way that they send out letters, emails and other types of communication. When you are sending out a lot in this way it might not seem so important, but just think about the time and money that you could be wasting.

Every single piece of communication that you send out incorrectly is a wasted opportunity, as well as being a waste of money. If you keep on doing this then you could find that your growth stagnates but you can’t put your figure on the exact reason why.

Thankfully, this is a problem that can be sorted out fairly easily by using the likes of postcode lookup software. In this way, you can feel confident that you send out your communication to the right place every time.

Not Growing from a Position of Strength

It is easy to think that things get better once you reach a certain level of income and customers. However, the danger in this situation is that you fail to build from a position of strength.

This might not seem like a big issue at the time but it is something that could lead to far more serious problems later on. This is because the moment for moving onto the next level and capitalising on your good times could slip by without you taking advantage of it.

You might then realise that moments like this only come around very occasionally. If you don’t take advantage of this then you will probably end up regretting it.

Choosing the Wrong Brand Logo

When you first choose the logo for your brand you might not think that it is a particularly thorny issue. It probably won’t be at first but as you grow and become better known it could become something that holds you back.

This is why it is important to choose a logo that you feel with comfortable with and that could help you in any new markets that you enter. If it is the wrong style or too close to a rival’s logo then you could find that it stalls your growth at some point.

Spelling a Customer’s Name Wrong

Another mistake that a lot of businesses make is to not pay enough attention to the names of their customers. This is something that could eventually have a massive impact on your reputation and your income, as getting a customer’s name wrong is one of the worst things that you can do.

This is another issue that can be sorted out in an easier way than you might think possible. In some cases it could be you just need to pay more attention to the details that you gold on your system.

By carrying out a data cleansing exercise on your database you can look to avoid this mistake becoming a huge problem in the future. By making it automated you should also pick up those mistakes that you might not catch just by looking, such as duplicates.

If you can avoid all of these small but potentially disastrous business mistakes then the future should begin to look a lot brighter.