Running a company is hard work, and you are going to find both success and failure. However, while you will probably make some bad decisions at some point, there are those that can be avoided right away. Take a look at the following five mistakes that your company could be making right now, and then be sure to fix them.
Mistake #1: No consistent branding.
Branding is the most important thing your company needs to do successfully. It is how people will recognize your business and how it will separate itself from the competition. Take Nike for example. If you were to say the word Nike to someone, they would immediately think of “Just do it.” In addition, any time you see the swoosh mark, you think of Nike. That’s because they excel at their branding.
You can do this too. Not only do you need to create a company logo and company tagline, but you need to infuse this into everything you. Create exterior signage for your company that incorporates your name and color scheme. Be sure to put your logo on all collateral, no matter how big or small it may be. And make sure that your employees know your company’s elevator speech and how to represent your business appropriately. When you do this, you’ll have consistency that allows you to create the best awareness for your brand.
Mistake #2: Not being found online.
It doesn’t matter what industry you’re in or what your company does, you need to have an online presence. Everyone today has access to the internet, so you need to have a way for these people to reach you. Building a single web page is cheaper than a full website, so you can still get that online presence without spending too much money. In addition, you can also create social media accounts for free or sign up for online directories, such as Yellow Pages or even Yelp. If your company can be found online, you have a better chance of earning some business.
Mistake #3: Ignoring your employees.
Every business owner wants to be successful, so it’s important that you reward and encourage those who do all the grunt work. Your business relies on your employees, and if they’re not happy, then you may find yourself with a decrease in production. This is not good. Instead, you want to keep your employees engaged and happy. This doesn’t mean that you need to give them raises every month (although I’m sure they won’t complain). It simply means you need to give them something that shows you care. For instance, maybe you can give them some extra time off to spend with family. Maybe you can treat them to lunch one day a month. Maybe you can provide a flexible schedule option or stock the break room with snacks. When your employees feel appreciated, it will make them want to continue working hard.
Mistake #4: Office politics.
As a company, it’s going to be hard to avoid rumors spreading. However, one way you can keep this at bay is to ensure there are no office politics. Make sure that your team leaders are honest and hardworking employees. Be sure they treat their employees fairly. When you do this, you’ll avoid any office politics situations that make employees feel unappreciated or that there are favorites. One good way to do this is to lead by example. As a business owner, make sure that you are making the right decisions based on what’s good for the company, not how you personally feel about someone or something.
Mistake #5: A lack of technology.
Times are changing, and it’s important that your company keeps up with this through technology. For instance, can you replace all your paperwork by giving employees iPads or using some type of computer software? Is there a tool out there that will allow production to be more organized and efficient? Should you eliminate your whole brick and mortar operation and start a virtual office? These are all things you need to consider, so be sure that you are making smart technology investments so your company can be more successful.
Every company is going to make a mistake or two. Hopefully, though, it’s not big enough to cause too much disruption to your business. If you find yourself making any of these five mistakes, take your time to fix these issues before they do become out of control.