You’d think that by now many businesses would have been able to iron out all the common problems that normally crop up in companies. But you’d be surprised to learn that a number of businesses are still making many mistakes, even in 2016. Most of it is down to a company not wanting to keep up with the changing times. And in some cases, the mistakes are down to companies not learning from the previous ones they made. Here are ten of the most common mistakes companies are making in this day and age, and how you can save yourselves from the same errors.
1) They Don’t Invest In Online Security
Almost everything we do in business these days is carried out online. So it figures that you should have top-quality online security and protection. That includes software to help safeguard your system and computers from viruses and hackers. Just one online attack or threat could end up costing you a lot of online data and information. It can cost a lot of money to recover from. Many businesses don’t protect their computer systems correctly. That’s because buying the correct software is very expensive. Especially if you buy the latest programs. However, this won’t be half as expensive as having to pay to recover after a cyber attack.
2) They Forget About Patents
Come up with a great logo and branding for your company? You need to be sure that a rival company doesn’t try and steal your design ideas. The best way to prevent this is by patenting and getting a trademark for any original design features you use. You can also trademark your company name as well if you see fit. Getting a patent and trademark isn’t a difficult process. It also doesn’t cost too much either. It will certainly save on the bills you would have paid if you went to court because someone stole your logo.
3) They Neglect International Business
Why just trade in your native country when there is a whole world out there waiting for your company? Many business owners tend to play it too safe, and don’t expand into the global market. This won’t be too detrimental to your business. But you won’t make as much money as you would when trading abroad. Don’t be worried about the language and cultural barriers. You can research your target country’s culture. And enlist the help of certified translation services to help you with the language.
4) They Don’t Have Clear Goals
Every company needs a business plan. However, not many companies include their goals in their business plans. Most plans simply include their financial information and how they plan on working. However, it is super important to try and include your goals into the business plan. This gives you a clear outline and will help you guide your company in the right direction. Once you have these goals and targets clearly in your head, you can then make a strategy. This will ensure your business keeps on working in the right direction. Without goals, you might find that your company has no real drive and fails to make any real progress or profits.
5) They Don’t Understand Customers
Don’t just offer what you think your customers want. You need to offer them what they want and need. Not sure if your product or service is really hitting the spot? Don’t be afraid to do some market research. You can hire a professional market research company to help you with this for you. Alternatively, to save some money, carry out the research yourself. The most basic of research just involves asking customers if they are happy with your product. Don’t forget also to ask if there is anything else they would like to see from you.
6) They Forget About Employees
Sure, customers and clients are very important, but that doesn’t mean you should neglect the opinions of your employees. After all, they are the ones who have to work in your office every day! And if their morale or motivation is low, your overall business could suffer as a result. So you should regularly ask your employees for their opinions on the way the company is run. They could give you some useful insights. As they are in the office five days a week, make sure they have plenty of perks to keep them happen. Free snacks and drinks always go down well and help to keep your staff refreshed throughout the day. At the end of the week, it is always a good idea to arrange some after-work drinks for everyone.
7) They Don’t Check What Their Competition Is Up To
To stay one step ahead of your competitors, you need to know what they are up to. You don’t need to completely stalk them, just following their use of social media should be enough. See what they are doing and publishing, and check whether it is going down well with their customer base. You don’t have to copy them completely, but you can take inspiration and ideas from what they are doing. It is also a great way to try and spot the latest market trends as well.
8) They Don’t Celebrate Success And Achievements
This point is closely tied to point number six. Whenever your business does something extremely well, you should mark the achievement and let your staff know. There are a number of ways you can do this. One is to mention the success in your regular staff email. Be sure to name any specific employees who did very well. It is also a good idea to hold a staff party or small celebration to let your staff know that you appreciate their efforts.
Hopefully, this blog post will help you when running your business and you won’t make these mistakes that many others do. If you follow all the tips, you will find that your company runs more smoothly and at a profitable rate. You will certainly notice the effects of all your efforts!