The Simple Mistakes That Cause Small Businesses to Fail

 

As a small or new business, you already have the odds stacked against you. Regardless of what you do or what you sell, there will already be many other similar companies out there who are more established than you with more money to spend. However, it doesn’t mean you cant still be a success, millions of small businesses across the globe make enough money to pay the bills (and more!). Some are happy to stay small, but some of them go on to grow so large that they become household names. However, regardless of how you see the future of your business, there are a few things to be particularly aware of. Here are three simple things that can easily be overlooked, but result in the failure of your venture.

 

They don’t take card payments

Whether you have your own small shop, a market stall, a pop up shop or even sell products from your home- card payments are essential. This day in age, people are using physical money less and less- research shows that most people don’t carry more than a few coins around with them on a day to day basis. You could be losing out on customers who want to buy from your business but are simply not able to because they don’t have cash on them. Of course, they could locate a cash point if they really wanted but if the purchase was a bit of an impulse buy or it’s not convenient to return then they probably won’t. Make it easy for them, invest in a card reader or a credit card payment app and next time someone wants to pay by card they have the option to do so.

 

They’ve not invested in their website or an app

Even if you sell in person or from a local store rather than from a website, you still absolutely need a website. When people are searching for businesses like yours, you need to be visible. Your site should contain your physical address, email contact, phone contact, your social media pages and information and pictures about what you do. Don’t try and DIY it, an amateur looking website can be just as damaging as not having one. Invest in the services of a web designer and have them create you something responsive and beautiful. Go a step further and have an app created too, it will help you to stand out from the competition as right now, many small and medium sized businesses still haven’t taken the plunge with this. It makes you look reliable and trustworthy, and getting your company onto the phones of your customers is always going to be a smart move.

 

They’ve overlooked marketing

If you’re new to business, it’s easy to assume that if you sell good products or services that you know people want and need, then you will be a success. However, it simply isn’t the case. With so much competition out there, you need to get your name out there to the people who are going to be interested in your business. You need to let them know you exist and give them a reason to choose you over your competitor. Outsource to a professional marketing company if you’re not experienced in this area.

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