Running a business is hard enough at the best of times. Unfortunately, the pathway to success becomes a lot steeper when you fall for common myths. Quite frankly, there are more than a few.
Whether it’s a slight inaccuracy, an outdated statement, or complete error doesn’t matter. Making judgements based on those elements that you believe to be true could be damaging your business greatly.
Let’s take a look at some of the most frequent culprits, along with the more honest reflection.
Myth: Traffic Is All That Matters
In digital business, website visitors are your potential customers. As such, you could be fooled into thinking that increased traffic guarantees increased sales figures. In reality, though, it’s not quite so simple.
High traffic figures are a necessity, but they also need to come from the right people. Otherwise, you’ll never gain the conversions you desire. Organic SEO measures that can be scaled alongside the progress of the business provide the perfect solution. Visit Posirank.com to find out more about the possibilities. Not only will this help the website get seen, but it will help it get noticed by the right audience too.
Let’s face it; visits from people that have no interest in your products and services are futile. By gaining traffic from the right audience, you’ll see far greater conversion rates and value for money. Moreover, it will put you in a far stronger position for predicting future growth.
Myth: My Website Needs To Be Special
Standing out from the crowd is a crucial, especially in the fierce world of digital business. Your website is the perfect platform to do that. However, you don’t need to go overboard by making the page overly complicated. The most important factor is that the site offers a friendly user experience.
Choosing a crisp, clean design is far more important than trying to squeeze as many new media types onto the page as possible. If you aren’t a naturally gifted designer, platforms like WordPress are ideal. Not only do they make the process easy. They additionally provide an end product that the end user is familiar and comfortable with.
OK, dismissing the fact that your site needs to be special is probably a little wrong too. After all, it still needs to make a big impression that will encourage customers to respond in a positive manner. However, you don’t need to overthink it. Simplicity is king.
Myth: Offline Marketing Is Dead
Marketing will always be one of the most crucial elements of any business venture, and digital companies are no different. When the crosshairs are aimed at an online audience, it’s easy to assume that offline features are completely outdated. Those assumptions are wildly inaccurate.
Some offline marketing methods are redundant for most digital companies, but so are many online ideas. More importantly, hosting a successful promotional event can be the perfect way to generate added interest and custom. If nothing else, it can help valuable clients put a face to the business, which will certainly aid long-term interactions.
Promotional goods are also extremely beneficial. Whether it’s a t-shirt or a mug, the increased familiarity can keep the company fresh in a client’s mind. The free nature naturally encourages them to link your brand to positive feelings also. If that doesn’t boost your hopes of future conversions, what will?
Myth: Customer Care No Longer Matters
In light of the fact you rarely deal with clients directly, many digital businesses overlook the importance of customer care. Quite frankly, you can not afford to be one of them.
Consumers still need to trust online businesses, and the level of support is indicative of the experience they can expect to receive. In turn, it will influence their perceptions of the brand. This is one aspect of business where you can outdo the global giants. Even the smallest operations can provide round the clock care thanks to social media and virtual call assistants. Find out more about the latter at Zirtual.com, and it could revolutionize your customer care game forever.
Just remember that a solid returns policy is equally important. Most consumers will forgive those human errors as long as you do your best to rectify them. Having those procedures in place can only aid your cause.
Myth: I Need An Office To Expand
As the company grows, you will find yourself needing to take on a few staff members. When this time arrives, getting an office may feel like a necessity. In truth, there are many circumstances where this will be the right solution. However, it’s not the only option available.
Modern technology allows entrepreneurs to run their businesses from the comfort of their homes. With the help of remote-based staff and modern communication facilities, it may be possible to bypass the need for an office space.
Or at the very least, it could extend the period where working from home is a possibility. Given that commercial space rentals are one of your biggest expenses, this can be hugely beneficial.
Myth: Increased Sales Equals Increased Profits
Regardless of the industry you are in, your company adheres to several business principles. Sales figures will always play an integral role in the success of your venture. However, increasing those numbers alone isn’t enough.
The progress needs to be achieved in a sustainable manner. There’s no point in earning $1m of sales if it cost you $2m to achieve them. Keeping the operational costs to a manageable level will help. Meanwhile, securing the support of a business accountant will afford a greater understanding of taxes and key factors.
Many new businesses fall into the trap of ignoring those vital elements, and it can create the illusion of greater success than the reality. If you want to avoid a potentially nasty development further down the line, gaining greater control is key.
Myth: I Shouldn’t Spend Money
On a similar note, though, it’s imperative that you invest money in the business. You can’t create something out of nothing, and underspend can be as damaging as underspend. That shouldn’t be a cue to start frivolously splashing the cash. However, you shouldn’t feel guilty about using your capital.
Investing in better facilities for the staff can allow them to work harder. Likewise, the best digital security systems can help protect your employees, assets, and customers at once. Meanwhile, using higher quality products and materials may allow for greater markups.
Similarly, many new business owners are a little worried about taking out big financial commitments. However, subscriptions with longer durations often reduce the monthly costs. If the business did go under, those deals would become void anyway.
Myth: It’s My Business Vs The World
Inexperienced business owners are often frightened by the statistics regarding low success rates. Consequently, it can lead to a situation where virtually every other startup is seen as direct competition. This mentality isn’t natural or healthy.
Teaming up with other small businesses could be one of the greatest things you’ll ever do. Whether it’s placing bulk orders on business essentials or offering a skills trade, those small gestures can make all the difference.
If nothing else, running a joint promotion can allow both parties to build bigger audiences and borrow customers from each other. As long as the products that the two businesses offer are different, these deals can be mutually beneficial.
Myth: There’s Time
On the one hand, it’s important to walk before you run. On the other hand, you cannot be fooled into thinking time is on your side. Running a business digital may mean that the pressures are less obvious than if you were running a traditional store or office. But the modern world of commerce moves forward very fast. If you aren’t progressing with it, you will be left behind.
In addition to embracing the latest tools and facilities, it’s vital that you make good use of your time. For companies operating in offices, this could mean going paperless. For others, it may simply require embrace better organization and smarter communication.
Either way, time is money. As an SME, you cannot afford to be wasting those two valuable resources. Even if it’s a simple job like linking social media accounts for automatic postings, the time saved can help you maximize your potential.
Myth: My Way Is The Right Way
There’s nothing wrong with having a vision for your business. In fact, this focus will help you avoid a number of obstacles, and can accelerate progress. Then again, narrow-mindedness can be problematic also. So try to find a healthy balance.
Ultimately, you are trying to please the customer. With Survey Monkey, you can easily gain their insight and reactions with a click of a button. Offer one entrant a free prize, and you should see plenty of response. In turn, this can help you tweak your plans accordingly. If nothing else, their added participation should enhance their feelings towards the brand.
The insight of employees can be equally useful. You might not always take them on board, but showing an open mind encourages staff to use their initiative. Moreover, it could unlock the next move that changes the entire future of your business.