Are You Making These 5 Common Small Business Mistakes?

Let’s face it – you’re doing a lot of things right. Considering you’ve made it through the weirdest 6 month period imaginable and are still forging ahead with your business, you’re doing pretty well. However, as said by Benjamin Mays, “The tragedy of life is not found in failure but complacency.” Pandemic or not, there’s no rest when it comes to running a Phoenix small business, and it can be easy to slip into pitfalls common to entrepreneurs.

Below we identify some of the most common mistakes small business owners make, and how to avoid them.

  1. Thinking you’re the one and only. Regardless of how unique, or not, your product is, there is always competition. Concepts that can take the place of your product in a customer’s life, including the customer doing nothing or walking away, are considered competition. You’re competing for your customer’s time and attention, which isn’t easy. The solution? Be present and visible. If you haven’t started aggressive marketing yet, now is the time.
  2. Being too broad with your marketing tactics. Honing in on your target market is crucial. Your goal can’t be to market to everyone, as tempting as this is. Instead, aim to identify and understand your niche so you can have great success in that market. The better you can understand your target market, the more you can work to appeal to them through language, graphics, promotions, and visibility.
  3. Failing to be balanced. “Work-life balance” is more than just a trendy conference room catchphrase; it’s a necessity for wellness. As tempting as it is to devote your whole self to the success of your business, the negative impacts on your physical health, mental health, and loved ones just aren’t worth it. Not only that, but working too many long hours with too few periods of rest actually makes you less productive. Moving your office out of your home is an effective way to instantly achieve some needed balance. The Arizona offices for lease at Versant Executive Office Suites offer you the perfect solution to getting your work away from your home. At a fraction of the cost of renting a traditional office, Versant allows you the luxury comforts and technology of a high-class office. And after leasing an office with us, the boundary lines between work and home will become refreshingly clear.
  4. Learn to let go. . . Growing a business can be a lot like raising children. You nurture them, feed them, see them through challenges, only to have to one day loosen your grip and let them rise to their potential. For you, letting your business grow might mean hiring an employee or two, hiring a marketing consultant, or appointing menial tasks to others.
  5. . . . and don’t be afraid to delegate. At Versant, let us take the burden of mail-handling and phone call-answering off your to-do list. Our Phoenix virtual administrative assistants professionally and efficiently handle your business’ administrative tasks so you can focus on your customers and growing your business.

Mistakes in the small business world are inevitable. But with insight from those in the know, as well as some sound solution options, your path to success can be smoother.

Give Versant Executive Office Suites a call so we can discuss how we can help your small business grow to its potential, even through today’s challenging circumstances.