Every business owner is, of course, a customer of other companies, which to an informed eye can offer a view of American business practices that isn’t always pretty. What’s the biggest mistake you see others making?
Using borrowed money to dull the pain of losing money. Better choice is to cut overhead or increase revenue. You can not borrow your way to success but many try
Every business (and business owner / leader) likes to believe that their company provides outstanding customer service (in the same way that everyone likes to think that they have a sense of humor)...but great customer service is really rare...and even if you do find it...it might might not be there in the future. I have several vendors who used to offer incredible customer service...but something changed...either our salesperson changed or the leadership changed...or the company was bought or merged...either way...I’m unhappy with the service today
As a loyal customer with many years of patronage at these companies, I feel it’s my duty to let them know that either something needs to change...or something WILL change...but it usually falls on deaf ears
...long after they notice that I left usually I get a phone call asking me why I ended our long-term relationship and how can they earn my business back...to which I reply “sorry...you lost that opportunity”...it’s sad for them
Not understanding the power -- for good or bad -- of social media. I see business owners constantly missing the boat, not seeing how being active and engaging customers or potential ones to interest them.
Especially on LinkedIn, a business platform where millions of us succeed, I see folks not taking full advantage of those who would love to know more about the business and/or its owners. And for goodness sake, it's FREE advertising.
#1 - Leaders are not effective in the way they develop themselves, alone and as a team.
#2 - Hire desperately, rather than systematically. This leads to people not being a good fit and turnover is higher than necessary - with employees and clients.
#3 - Not managing people well. Unsystematic. Lower productivity, increases errors, lowers profits, and retains poor performers too long.
What’s the Biggest Mistake You See Other Businesses Making?
Using borrowed money to dull the pain of losing money. Better choice is to cut overhead or increase revenue. You can not borrow your way to success but many try
Every business (and business owner / leader) likes to believe that their company provides outstanding customer service (in the same way that everyone likes to think that they have a sense of humor)...but great customer service is really rare...and even if you do find it...it might might not be there in the future. I have several vendors who used to offer incredible customer service...but something changed...either our salesperson changed or the leadership changed...or the company was bought or merged...either way...I’m unhappy with the service today
As a loyal customer with many years of patronage at these companies, I feel it’s my duty to let them know that either something needs to change...or something WILL change...but it usually falls on deaf ears
...long after they notice that I left usually I get a phone call asking me why I ended our long-term relationship and how can they earn my business back...to which I reply “sorry...you lost that opportunity”...it’s sad for them
Poor customer service...with lack of real interaction. Bots just don't cut it.
Not understanding the power -- for good or bad -- of social media. I see business owners constantly missing the boat, not seeing how being active and engaging customers or potential ones to interest them.
Especially on LinkedIn, a business platform where millions of us succeed, I see folks not taking full advantage of those who would love to know more about the business and/or its owners. And for goodness sake, it's FREE advertising.
Not spending enough on marketing and then cutting marketing to ‘save’ money when sales drop off.
Businesses treat social media like a third-grader on show-and-tell day. It’s a mess, not consistent and doesn’t tell the story of the brand.
#1 - Leaders are not effective in the way they develop themselves, alone and as a team.
#2 - Hire desperately, rather than systematically. This leads to people not being a good fit and turnover is higher than necessary - with employees and clients.
#3 - Not managing people well. Unsystematic. Lower productivity, increases errors, lowers profits, and retains poor performers too long.