You’ve started a business and now you are waiting for the money to start booming in? And you don’t want to check if your business is vulnerable all you want is the money? If you are after that you won’t last long in the business world.
Day in day out, every business owners are finding tips on how they can build a great business empire and not the type of empire that will not last long, but only few take note of things that are going around them and fix up the things that can break their business empire.
Am sure you want your business to grow that’s why you are reading this post. But in other for it to grow are you taking notes of things that can screw up your business? And if you don’t about the deadly elements that can screw up your business read on and you will get to know them.
5 Deadly Elements That Can Screw Up Your Business:
Your Products Supplier:
To most of you that deal with products services, your product supplier can screw up your business incase you don’t know. I’m sure you would be wondering how. Well I will tell you.
Your product supplier can screw up your business when he or she is supplying with goods that are not of quality and bidding you at higher prices. I know you would be noticing and am sure you would be asking your supplier that if the good is of quality services and they would tell you yes that it is.
By the time you start offering your services to customers and they start noticing that your services don’t worth the price am sure the next thing they would do is to leave. Only few of your customers would tell you the fact about your business.
So what am trying to say is this, when you notice that your suppliers are not feeding you with the right products I guess you need to switch lanes don’t be scared to get another supplier that can offer you quality products that your customers want. Some suppliers are cunny, they will be telling you that the product is good but they know in their inner mind that it’s not good all they want is sales, I mean they want you to purchase it from them so that you can buy. Only few suppliers are trustworthy so in case your supplier is playing to be cunny let he or she go. And you should open the door for another supplier to come in.
I recommend you to get like two suppliers so that you can vary each of their prices and see the quality of the products so which ever one that suits you, you would go for the person. I hope you get what am talking about? So don’t let your suppliers screw you up.
Your Business Location:
Your business location is part of the elements that can screw up your business in no time. That’s why it’s advisable for you to choose a good business location so that it will help hasten the growth of your business.
Bad business location will not help increase sales and customers would not love to patronize a business situated in a bad location. Every successful business owner knows the role a good business location do play in their business that’s why they base their business on a good location. Incase you don’t know how to get a good business location, read my last article on how to get a good business location. Try to base your business on a good and sophisticated business location.
Your Competitors:
Your competitors can screw up your business; many people do underestimate their business competitor. That’s why many businesses fail. It’s advisable for you to think on how you can stay ahead of your competitor and don’t get screwed up by them.
Don’t be scared of your competitor, they are human beings like you; you all came in the business world to achieve a goal. So the way you play the game will determine if you are going to succeed or not. So be careful and never underestimate your competitors.
People Whom You Seek Advise From:
Be careful with the kind of people whom you seek advice from. Because they are the ones that will determine the life of your business.
That’s why it’s advisable to get a good business mentor and not an adviser. Business mentors serves as fruits that will help grow your business. Don’t seek advice from nerds’ people who don’t know what business means, people who their whole lifetime is on the 9 to 5 track and they never own a business. be careful with the people you choose as your mentor because most of them might be scammers. Don’t be surprise if you are told that people whom you seek advice from can screw up your business. In case you don’t know how to get a good business mentor I suggest you should read my article on How To Seek For The Right Business Mentor. Be careful with whom you seek advice from.
Your Business Team:
Your business team can screw up your business. If you don’t have mastermind business teams to work it then go find a solution to that.
If a business team is vulnerable then your business is vulnerable. A Business team will determine the future of a business. That’s why you should work it mastermind business team and if you see that your business teams are not active then I suggest you should switch lanes before they kick you out of the business world.
An active business team is the one needed in the business world and not lame business teams. I urge you to check your business team and if you notice that they are vulnerable I suggest you should find a solution to their problems.
Speak Your Mind:
I hope you are avoiding the above listed elements that can screw up your business?? Feel free to comment below and don’t forget to subscribe to this blog for more update! Thanks a lot.
Image Credit: Valley
How To Improve Yourself As a Young Entrepreneur
The Kind of People I Want To Work With At My Startup
Act Smart – Avoid Debts to Prevent Business Failures
Letter Of Gratitude II
{ 22 comments… read them below or add one }
Samuel, good stuff man. Having owned my business for a little over 10 years, I’ve made every mistake in the book. Here are a few more mistakes I’d add:
1. You don’t run background checks on all employees
2. You don’t know your identity: What can you be the best at?
3. You don’t embrace the future of marketing…(outbound is dead, inbound is the key)
4. You spend too much time working in the business vs. working on the business.
5. You don’t have passion for what it is you’re doing.
Just my thoughts.
Hey Samuel,
Thanks for the awesome smokin fire content dude! Glad I took the time to stop by and see if anything new was going on ( :
I totally agree with you. The business partners you find have to be on the same level as you. The business teams needs to have a clear vision of the goals and what it’s going to take to reach them. If your team doesn’t, then it’s bound to get off track and fail.
I know that first hand.
Thanks again.
God bless,
William Veasley
Yeah, that’s just the fact. Thanks a lot bro. Have fun.
Hi Marcus,
You are right man. Thanks a lot for the comment.
Awesom business ideas, and thoughts, Hope it will helpful for online entrepreneur.
Thanks samuel.
Thanks a lot for the comment. Have fun.
hi samuel, you always deliver us important messages and it helps us the best. i think, business is everywhere. no one can ignore this term, in all sphere of our life, we should act as a good businessman and little mistakes at an step of business, can ruin all the things. so thanks, bro. now we must be aware of these facts you’ve outlined here.
Yeah, little mistake can split the milk. Thanks a lot for the comment. Have fun.
Hi Samuel
You covered the points well. I am finding out about how topractically run my business now that I am selling sourced products. Before I got serious about blogging, I did a small business management course.
Did a business plan and checked out competition and planned what I hoped to achieve over the weeks and months up to a year. Then how I would move forward in my second year. I have had to be flexible and have introduced other ideas as I have learnt more about blogging and business. Thanks for sharing Samuel.
Patricia Perth Australia
Hi Momma,
Have fun Momma!
Do you mean you want to start producing your own products? Yeah, keep rocking with your lavender
Samuel – Great stuff bud!
I think you identified some pretty key components of successful entrepreneurs!
In particular, to me the most important components you mentioned were having a business mentor, a business team and performing market research (understanding competitors).
I think that having a business mentor is extremely important. let’s face it! Most entrepreneurs are first time business owners. They have no idea what they are doing and they have no idea what it takes to run a business. I know I didn’t when I first started my business. It’s a process that can be learned over time (learning curve) or that can be supplemented with mentor-ship from a successful business owner. I prefer the latter!
In my opinion, that is why Internet Entrepreneurship is the perfect business opportunity for first time entrepreneurs. You have community to help you make progress (ensure that you are not working a business alone) and you learn new skills required for all entrepreneurs (these can help you in any future business venture).
Thanks for sharing!
Hi Hector,
Yeah, you are right bro. Thanks a lot for the awesome bro. Have fun
Hi Samuel,
Competitor analysis is one of the factor that is one of the step stone for success.
All your tips are business plans for a business owner to drive the business to new milestone…
Yea man, that’s why it is advisable for an entrepreneur not to underestimate his or her competitor. Thanks a lot.
Samuel,
I think finding the right supplier is one of the most important thing. It pays to do research before ordering anything from your supplier. It would be bad for your image if your supplier is not on time, does not deliver as promise or nor professional enough. At the end of the day, your business will then be at stake even though your supplier is to blame.
Yeah Bryan, You are right bro. You need to do a proper research on who you want to get your products from so as not to fall in deep pit. Thanks a lot for the comment. Have fun.
Hi Samuel, excellent business advice. I know this all too well from real life business situations and from lessons like this being burned into my brain during the years I studied at university. You need a good work relationship with the supplier, that’s for sure. It’s more like being partners in crime than anything. And of course we have the good ol’ saying, “Location is everything” when it comes to opening any sort of offline business. Couldn’t be further from the truth. Thanks for the great article!
Hi Elise,
Yeah, that’s the fact. my Mom build a reputable relationships with her supplier and she’s yielding positive results. Thanks so much for the comment.
I like these Tips Samuel.
Almost a list for the offline world, but so much can be applied for the online business too. And because you came from an offline perspective, there are things that the online business might noth ave thought about.
Hi Alex,
Yeah bro, most of the tips here is for offline business but online business owners can also apply it to their businesses. Thanks a lot for the comment. Hope to see you soon.
Hi Samuel,
Good post. Adding to that: one of the most important ingredients an experienced mentor offers is insight. ‘The best vision is insight’. Because we’ve been there before with many people, in my industries and situations we have a broader view to draw from. Often the problem is not what it seems. Much of life is the undoing of something that shouldn’t have been done, or could have been done differently. Life’s an inner game, everything hinges on the self.
As business owners (and humans), we’re given the ability to think at a higher level. Unfortunately, we often don’t. At least not in the way we were designed to. For many, ‘free will’ or ‘free thinking’ is just their belief system in disguise.
We have more power over things that most realise; eg. we don’t need power over our competition – we need it within ourselves to make the competition less relevant. When we become more (of our-self), we need less. And the control is in letting go of the control. Your words remind me of the Tao; “true sayings seem contradictory. Act by not acting. Do by not doing. The master accomplishes much without doing”. Know thyself, and self mastery are the key.
Develop yourself by choosing a mentor that is well developed within themselves – if they don’t have it themselves, they can’t give it to you. Choose carefully to get more. Business Advice & Self Mastery
This is my first time i visit here. I found so many interesting stuff in your blog especially its discussion. From the tons of comments on your articles, I guess I am not the only one having all the enjoyment here! keep up the good work.
{ 1 trackback }