The Biggest Mistakes Small Business Owners Make and How to Avoid Them

Over my career, I have helped many business leaders become more effective and build stronger companies. As a public speaker in Houston, I am frequently approached by small business owners seeking advice on how to maximize their businesses potential, and I’ve learned the common mistakes that can derail a company. Fortunately, there are measures leaders can take to avoid these issues in their businesses.

Losing Sight of the Whole Picture

Long-term business plans are important. Day-to-day business is important, too. Far too many of my small business coaching clients lose sight of one or the other as their business starts to grow. The key to solving this problem is in time management. Leaders need to police their focus and push themselves to stay involved at all levels of the business. This does not mean micromanaging employees or ignoring customers and sequestering in the back office. It’s a balancing act. Business leaders should obtain the training to review the account books, find ways to engage with customers, and pay attention to the larger market to better anticipate new opportunities and potential challenges on the horizon.

Bad Delegation Choices

As the preceding paragraph make clear, business owners have a lot to deal with. As the business grows, they will need help. In my interactions with people as a public speaker in Houston, I am frequently asked about the best practices for hiring. My advice boils down to this: don’t wait too long but don’t hire too quickly. Business owners who fail to delegate some of their work will eventually burn out. But business owners who do delegate often place their trust in the wrong person. Business leaders must take time in the hiring process. They need to hire someone who is enjoyable to work with and has the training and experience to make the payroll costs worth it.

As a public speaker in Houston, I’ve met enough people to know that it’s never too late to change. Incorporate better practices in your business today and watch as you exceed your own expectations.

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