10 Roadblocks To Running A Successful Small Business

Posted by Jim Smith on July 1, 2011

0 comments | 1469 reads

There are certain behaviors that an entrepreneur must avoid in order to be successful in his/her small business venture and these are:

photo credit: Brian Forbes

1. Not following a well thought-out and documented business plan which has goals, measurable objectives and assigned responsibilities complete with deadlines.
2. Putting off for tomorrow activities that can be handled today.
3. Waiting until your product/service is perfect before launching it.
4. Neglecting to identify and understand your target market.
5. Not having a well-defined marketing message crafted for your target customers in language they understand and are comfortable with.
6. Having customers who do not believe in or trust in you.
7. No having an advisory board or network of advisers comprised of persons with skill sets you do not possess.
8. Not making your business customer centric and customer focused.
9. Not having a good set of books and accounting methods from day one.
10. Neglecting to manage finances and cash-flow properly so thjat the business stays out of financial trouble.

Republished with author's permission from original post by Jim Smith.

Jim Smith

Jim Smith mentors entrepreneurial start-ups and counsels small to mid sized companies that are looking to expand or are under performing or under capitalized.

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