It’s easy to get things wrong in the working world, but in reality, that’s no bad thing. After all, without making a few mistakes you’ll never learn, and it’s our experiences that truly make who we are. So if you’re currently wondering why your business has no customers, or why it costs so much to open up, don’t beat yourself up about it. You need your business to be as productive as possible and one of the best ways to do that is to know where you are getting seed funding for startups that counts. You need your company to work from the moment it starts, and when you have the right cash it’s often all you need to get going. Get constructive and productive with points like those below; running your own company is a massive thing to do, and when you get something right, it should be celebrated!
You Don’t Make Use of Contracts
How many connections have you made since you opened up your business’ doors? And how many of those people or organizations are you doing business with? And if you are working alongside some of them, do you have a contract to hand? Because if not, you’ll be letting yourself down in one of the worst ways possible.
A contract is the best legal protection you can have. It proves you have a deal, and it ensures both sides keep up their end of the bargain. And sure, you’re developing a pretty good friendship with a supplier or two, but without a real contract to keep things simple and professional, they could let you down at a moment’s notice. That could cost you a lot.
You Have No Inventory Management System
As a business your number one asset is the product and/or service you sell. However, you’re totally forgetting to look after this one major asset! As a result you have no idea what’s going on in the stockroom, how many units you’ve sold, and how much waste you’re producing. All in all, you don’t have your eye on the ball and it’s rolling away without you.
But it’s not too late to change this. Roll up your sleeves and get yourself a mighty lift pallet jack, come up with a stock rotation system, and stop wasting money on excess. It’s fine to have a bit of a messy stockroom, but if you’re not sure what’s in there, you’ll be wasting your own time and money.
You’re Not Sure How to Hire
Finally, it’s time to think about your approach to hiring team members. Maybe it’s just you right now, or maybe you’ve already brought a couple people on board – either way, it’s best to sit and consider your actions for a while.
It’s not a good idea to hire talent when you’re not sure about your own future, and it’s definitely not a good idea to do so without a verified process to follow! You need to have the right questions, you need to know the right skills to bring into the fold, and you need to get a proper feel for the candidate you’re interviewing.
Running a small business isn’t an easy thing to do, so don’t worry if you’ve made a mistake or two so far. Dust yourself off and move on with your experience.
What do you think?