Common Mistakes Small Businesses Make and How to Avoid Them!

Everyone knows that running a small business of any sort is no easy task. There are one hundred and one things that could go wrong, and so many balls to keep in the air. With so much going on, it can be easy for a small business owner to get it wrong. Whatever your industry, there are some common pitfalls that are common to nearly all of them. Here are some of the worst pitfalls, along with some handy hints to help you try to avoid them in future:

Misreading the marketplace

When setting up a small business in the first place, it is imperative to do your research. You must know your marketplace - who will buy what you are selling, and why? How much? Who is your competition? Is it a crowded marketplace or have you found a lucky niche? If no one else is doing it, perhaps you should carefully ask yourself why that is before you commit time or money to the project. Perhaps you did do your diligent research at the very start, before you inaugurated the company, but things change. It is not enough to just start your business off on the right foot. Are you keeping up with any changes in the field or any new developments? Especially online, things can move at breakneck speed. Are you on the ball? Remain vigilant and you will avoid getting out of touch with your marketplace, which is a common mistake made by small business owners.

Poor marketing and advertising
Many a small business has died due to bad advertising and marketing strategy. Make sure that you are reaching your intended audience, setting the right tone, and achieving maximum market penetration – which is the main topic of hundreds of articles that can be found on websites like Forbes. Don't stay static, and be sure to utilize online methods to ensure that your web presence ranks highly in search engines. Whether your business is entirely online, or is a mix of on and offline presence, do not neglect your customers. Prepare a promotional tactical plan and make sure you stay ahead of the game, keeping up with the constantly evolving world of online advertising. 

Underestimating the importance of good web-presence
It is common for a small business owner to cobble together a website and think that they are doing fine. But there is nothing worse than a poorly designed website, so if you are not sure if you have what it takes to create the best web presence possible for your company then hire a professional or at least read the tips that guys like Rand Fishkin from Moz talk about in their articles and can easily be implemented on your own website to help you achieve better results. There is no point going off half-cocked if you want your business to succeed. Never underestimate the importance of good web design.

Choosing an unreliable web hosting company
When choosing a web hosting company, please make sure that you go for a reliable outfit. There is nothing worse than having constant issues with online ordering systems or outages of one form or another. If you go for a company with positive reviews that is well thought of, then you will have one less thing to worry about. Don't leave web hosting to chance, or consider is as a minor thing - good web hosting is vital to the ultimate success of a business. The technician Ivan Horvat from 90Systems also suggests you should avoid companies who are just resellers, since they often only care for quantity and not quality, which will have negative side effects on your own website if hosted by them.

Getting the figures wrong
From underfunding to overstaffing, miscalculating supplies or simply the number of people who will buy what you are selling, getting the figures wrong can be catastrophic. You might have financial troubles, or have a web site unable to cope with demand, or any one of a whole range of other problems. Good planning and excellent organizational skills are essential to running a successful small business. So make sure that you get all the numbers correct and all your ducks in a row. A little more time spent now could save headaches later. Have you considered the future? What is now enough might very soon not be. Will your small business expand?

Over-extending
Whatever moves you make when it comes to your small business, it is important always to play within your bounds. Make sure you are not over-extending yourself. This can mean over-extending yourself financially, which is a common mistake amongst small businesses and can lead to failure, but it can also mean over-extending yourself in terms of time. Of course you will have to work hard to get and keep a business off the ground but are you really able to keep it up? Overdoing it and fatiguing yourself will not only damage your health it will do neither you nor your business any good in the longer term.

Bear all of the above in mind when running a small business, and success will come far more easily.