You always need to think of more than a few things at once when you’re running a business and that’s especially true when you’re trying to get one off the ground in the first year. What can make matters even more confusing is the fact there’s really no template or guidebook to ensure you’ll have a clear path to success. Basically, you’re more or less on your own and that’s where the real danger for new business owners lies. As well meaning as they are with their new endeavor, rookie business owners tend to repeat the same mistakes enough that some patterns worth noting have sprung up.
Here’s a few of the larger ones that can cause your new business big trouble.
Under pricing the products or services you’ve got to sell
One of the first axioms you’ll want to remember is customers like to see the price go down but never move in the other direction unless you’re significantly increasing the quality and value of your product at the same time. New business owners can fall into this trap quite easily and the reasons are actually simple when you stop and think about the lack of confidence most people start out in business with.
You need to take a step back before you launch and temper your enthusiasm. Starting a business with undermined prices can be a long and difficult disadvantage to come back from. It’s much better to slow down and take the time to do a little research about where the best price entry points are for what you’ve got to sell.
Avoiding marketing
There are always rookie small business owners who get so caught up in every little aspect of running their enterprise , they assume everyone in their target market knows about them. Granted, running any kind of small business is all-consuming if you want to do it properly, but getting the word out through marketing is still one of those must have pillars some people overlook.
Advertising doesn’t need to be intimidating or costly but it needs to be done. There are more than a few excellent online techniques you can use to get the word out on your goods and services even if you’re still a brick and mortar store with only an online presence. Never make the mistake of assuming all you need to do is open the doors and the business will come to you.
Finally, it’s important to embrace everything that technology offers when you’re getting a small business up and running. Aside from the cost savings of what the latest has to offer, most of today’s modern business tools actually increase efficiency and raise your profit margins.
And that’s exactly the point where Street Invoice comes into play. Being able to unchain yourself from the drudgery of filing invoices once a month from behind a desk allows you to tweak your new business more often and time to look for more customers. Our small business invoicing app is the perfect tool for service people who are always on the go because you can send a professional invoice in under one minute from your smartphone.
Street Invoice: Simple mobile invoicing for quick easy payments–anywhere, anytime