5 Business-Killing Mistakes You’re Making Every Day

As the great Benjamin Franklin once said, “If you fail to plan, you plan to fail.” With all the moving parts of a business to look after, it’s no wonder that some things fall through the cracks, thus affecting your business growth and bottom line profits.  Business mistakes increase and one can become overwhelmed.

But wait! Maybe you don't think you have enough time in the day to complete all your daily tasks and projects.  Is this you?  Yes?  Well then…

Let’s examine 5 business mistakes you're making every day that's keeping you from making a profit in your business.

Have you been thinking if only I could free up more time I could focus on the growth of my business?  Have you been all bogged down with tasks that are not visionary tasks?  If you answered yes to those questions then let's talk about business mistakes that keep you from taking your business to the next level.

1. Inconsistency in Your Marketing

It’s just not enough to publish one Instagram or Facebook post or a couple of tweets every week. You should not be ignoring your email list because your list is also a critical, area of your business. We all have been there it is human to get off track and become inconsistent however if you don’t keep a consistent marketing plan, do you know what happens?

People forget who you are, and they will forget your name (not unless it's Tequila), but worst they will not remember how they ended up on your email list which leads to unsubscribes. Oh and let's not forget they were also following you on social media and now they are not. When you become forgettable, it creates more work for you because these same individuals you will have to wind them over yet again. I like to call it the comeback kid.

They will need to hear and see your company name and you on a consistent basis as they did prior our absence to spend money on your product or services. A project manager or business consultant can offer solutions and ideas to make your marketing more consistent and productive.

2. Failure to Automate Your Repeat Tasks

Are you stuck in the past doing things, like sending text messages or making phone calls to make confirmation appointment calls instead of using automated SMS technology to send text message reminders to confirm? Did you know even posting on social media can be automated using platforms such as Hootsuite, Post Planner, Co-Scheduler or Meet Edgar?

Facebook also has its internal scheduler. Yes, these automation tools cost money but compared to paying the monthly or annual cost to an employee or a virtual assistant is a no-brainer in cost-cutting. Now you might be saying well now I have to take time to schedule out everything.

Well, I have you covered make sure you are batching your task items. Batching will help focus your tasks and keep you on track. Completing business tasks with old-school methods are much more time consuming, thus costs you more money in the long run. A business consultant or project manager will be knowledgeable about the latest technology that can help you automate while sticking within your budget.

3. Unclear Branding or Messaging

What are your company’s values, beliefs, and mission? What makes you unique and what is your Unique Selling Point? If you can’t answer these questions, you need to revisit your messaging and make sure it is crystal clear.

Branding I have to tell you is more than your logo and business colors; branding is your overall story,

why and what you promise to your customers. A business consultant or project manager can ask the right questions that help you narrow down to those core principles and values that drive your business and makes sure your audience hears your right message.

4. Poor Management of Your Money

What processes do you have in place for paying your monthly expenses? Do you have a bookkeeping plan in place? This one is something I think all us entrepreneurs are guilty of and save it for last when it should be a starter task. Do you have any idea expenses are going out and what income is coming in? Do you keep it all on a spreadsheet?

Do you have a habit of buying training classes before you have completed the last one? Yeah, I know you're not alone, however, there is no reason to be surprised with how much (or how little) profit you have made in the last year. When you are positioned for growth, then you have a good money management solutions in place.

A business consultant or project manager can help you create a budget along with help with getting solid processes in place for handling your monthly expenses.

5. Not Reinvesting in Your Business

As a business owner, you should think of reinvesting as a way to grow your business. Instead of using the extra profits every month to pay yourself, keep those profits in the company and use them to hire a new staff member, a training or software tool that will help your business or to invest in a project manager or business manager to oversee your operations and free up more of your time.

Keeping your reinvestment options open and adding the above mentioned will help you run your business more efficiently so you can have more time to connect and serve your customers as well as prospects. Now, of course, you should pay your self monthly but make sure your business is in a good position. Take a certain percentage each month a place that back in the business to help it grow and the rest is up to you.

As you can see, a business or project manager can help you get these business mistakes rectified and offer more solutions for your growth. If you are ready to grow your business and be the visionary in your business, schedule a discovery call today?

Have you made any of the mistakes talked about above?  If so, how did you correct them?  Let's us know…we would love to hear in the comments..