Business Mistakes You Should Avoid – Fahim Ekbal Moledina
The more your business triumphs, the more seriously you take a life every day that you forget to look at your decision from a different perspective. Sometimes you need to be made aware that you have committed great business mistakes, which are vital in all your business moves. You indeed could have avoided these mistakes when you just knew it. But don’t worry about it, as this blog is here to stop further pain in managing your company toward success.
According to Fahim Moledina, there are mistakes that every small business owner must avoid.
Improper Project Estimates
Service providers and those people selling products critically come across this factor. This is all about estimating your effort and time for the whole duration of the project. Small business owners usually need to assess the time and the project accurately. Eventually, this will lead you to destruction and bankruptcy unless addressed earlier.
You need to stop this mistake now, regardless of how tempting it is to close a deal faster. Begin recording normal project times and set real-time estimates based on the records for the next clients. Keep in mind to add the variables each project needs for a more reasonable service.
Many small business owners normally set inconsistent and confusing prices. Sometimes this happens when they find competitors’ prices lower or higher than their original list. You can base the costs on an existing competitor’s price as a start-up guide but stick to it only for a while.
You might have the same business but not the same processes and plans. You need to set a fair cost based on your business’s current locations.
Not Charging Quality Time and Effort
Putting extra care on the products or services you’re working for clients is okay. What irritates you here is that you seem to take for granted the special quality of the service or product and the effort and money you place into it.
If you want to become successful in your business, make sure to ask for help from professional business consultants like Fahim. He has been in the business for many years and has already assisted business owners in becoming successful in their ventures.