A recent article, 5 Big Mistakes Your Small Business Keeps Making — And How to Correct Them by Annie Pilon says that small businesses are making a lot of mistakes that could significantly hurt their employees and bottom line. But certainly, it would be impossible for any business to operate completely free of mistakes.
Here are small business mistakes you should avoid to help you succeed.
1. Lowering Prices to Compete
It can be tempting for a small business in a commercial office space to lower prices to make products or services more attractive to customers to prevail in tough competition. But usually small businesses are not ready to shoulder those losses, but only jeopardize their own interests.
Instead of reducing prices, focus on adding value to your product or service. Customers are usually willing to pay a bit more for something that provides a great experience.
2. Embracing all Generic Advice
There are a lot of general statements out there that don’t necessarily apply to every business. And following that generic advice is usually what leads to failures.
Book a meeting room and schedule a meeting with an expert/professional who can give you advice specifically designed for your situation.
3. Putting workers into Generational Boxes
You’ve heard about generalizations, Baby Boomers aren’t innovative and Millennials aren’t team players. These generalizations are not just detrimental to workers, but your business can also lose the opportunity of building a great team.
Every generation has strengths and weaknesses, thus you should hire based on merit. Allow the people prove themselves, and your business could benefit from a truly diverse working environment.
If you learn most common mistakes made by other business owners, you can avoid falling into bad habits that can really cost your business. If you’re looking for workspace solutions for your small business in Philadelphia, Office space brokers can help you decide what is best for your business. YourOffice Philadelphia offers you a wide choice of office and workspace solutions: small office space Philadelphia, executive suites Philadelphia and meeting space Philadelphia. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.