If you want to have a business, which sustains in the long run, here is a list of things that you must avoid as a business head –
- Do not skip taking phone calls of customers just because the delivery of product/ service is delayed. They need to be updated about their requirements, which are dependent on you
- Do not skip calls of suppliers/ creditors just because you do not have arrangements for payments. Pick up their calls and let them know that there is a delay. They might be upset; but will keep the trust factor alive
- Do not send superior/ inferior material than selected by the client. Update them about any changes that you wish to make for any reasons. Incase you don’t, it might cause a hindrance in future purchases they would make
- Do not give any misleading answers to your prospects/ customers. Always speak and give right knowledge
- Do not over-promise and under-deliver. Infact reverse is better – Under-promise and Over-deliver
- Do not engage in a price war just to take an order or for ego satisfaction. The ultimate winner is the client, whereas you lose out on the profits that are needed to run your business
- Do not wait for things to become better. They never will. Be proactive and take action to make things better
- Do not ever take it easy. Until you wish to survive in the market, you got to be on your toes
- Do not copy your competitors. Stay one step ahead
- Do not rely on 1-2 customers for your business. What if they suddenly decide to stop buying from you?
- Do not be over confident even if you have good partners/ team. Keep abreast of what’s happening at your business and the industry
- Do not shy away from meeting fellow businessmen from your industry. They might share some important information, which might increase your business dramatically
- Do not fail your commitments often
- Do not become stagnant just because business is doing well. Improvise and keeping adding
- Don’t safeguard yourself when someone complains about your product/ service. Stay neutral. Look at it from a customer’s perspective; as if you are the customer to whom that has been sold; and then give a response
- Do not take your employees for granted. Only if they feel, happy and excited to work, can you produce excellent results. Do enough for them
All these pointers are to be implemented by every business owner. None of these points are optional; they are all compulsory to be followed! Even missing out on a single one could spell doom!
Finally .... "It takes a lifetime to create goodwill, and only a single mistake to lose it!"
… always upgrading!