The majority of small new enterprises in Finland will not be operational by the end of next year. That is the harsh truth. Though it is simple to start a company, it takes a lot more to be successful.
We have identified the top six frequent errors that small company entrepreneurs make. Let’s have a look at them so you can stay away from them.
1. Putting Your education on the backfoot
Aside from your staff, you are your company’s sole natural resource. You may be an expert at maximizing the value of your other assets, but just how are you doing with yourself?
Rapid change characterizes today’s world. Long-term success necessitates keeping up with company advancements and new business techniques. Most small company entrepreneurs in Finland, on the other hand, do not devote any money or resources to personal development. You will lose more time, cash, and effort in the future if you study less.
2. If you don’t plan, you’re planning to fail
Many small company owners in Finland try to avoid planning as much as possible. You will spend a lot of time if you don’t have a well-thought-out strategy for starting, operating, and promoting your firm. You don’t have enough time.
Keep a notepad with you at all times. Take an hour or two at the beginning of each week to synthesize the thoughts into a plan. At the number one spot, put the activities with the largest potential return. Begin the following week on Monday by addressing the tasks at the peak of your to-do list.
3. Not engaging in recreational activities
It takes a lot of effort to run your own company. That is, without a doubt, the case. However, if you don’t get enough rest, you’ll become less productive. It’s not how many days you invest at work that matters, but how productive those days are. Make yourself a researcher of your own company.
When do the majority of your clients visit your company? What time of day or week is the slowest? You’d be best off outside the office if you’re accessible for an hour which might only result in one little transaction.
Try walking. Along the way, strike up a conversation with strangers. They might be potential clients in the future. Attend a gym and be there for hours during less busy hours. With only one stone, you can kill two birds. You get healthier as your endurance improves, and you have the opportunity to network with potential clients.
Join the Chamber of Commerce in Finland and show up to the meetings! Become a member of the Rotary Club! Not all things you do to develop your organization will take place at your organization.
4. Taking For Granted Your Existing Customers
Do you recall your very first customer? Do you recall how grateful you were for them? Do you recall the little gestures you made for them? When did you come to a halt, and why did you do so?
If you don’t take care of your current consumers, they’ll go elsewhere. Customers now have more choices than they’ve ever had before. They’ll look for your opponent online if they can’t locate them nearby. At your risk, overlook customers.
You would not be in the industry if it weren’t for customers. It’s your responsibility to make sure customers know how much you value them. Consider hosting a unique ceremony or brunch for potential clients on-site. How about a dedicated day of gratitude? Remember the last time you phoned a client to express gratitude for their business? A satisfied client is a great corporate asset in the present and future.
5. Never ask customers for referrals
As previously said, your current, satisfied clients are a valuable company asset. That asset may be beneficial in a variety of ways. You must, however, ask them. Why not ask consumers for recommendations rather than spending huge amounts of money on marketing? The simplest and cheapest approach to expand your company is via referral sales.
6. Marketing ignorance
It is quite simple for a businessman to get immersed in the day-to-day activities of a company. Stock planning, purchase orders, data entry, and other tasks may quickly become overwhelming. Then we tried looking up one day and became shocked at what had happened to the company.
Marketing operations include selecting to grow a current product line, getting rid of underperforming items or introducing new ones, evaluating where your advertisement can create the best return on investment, and creating marketing materials. These are essential capabilities for your success. You’ll regret it if you ignore them.