5 Things Every Business Owner Should Avoid

Businesses in Nigeria has been faced with challenges. A blend of human, technological, geographical and sociological challenges. Often times, we play the blame cards and blame everybody in sight and view. But what if these challenges are as a result of the common mistakes we have made? 

In recent times, many businesses have lamented about the problems they’ve faced but many are yet to open their eyes to the solutions in view. 

The common mistakes made in businesses are a reason why many businesses have either failed, folded or formed a hole on a round spot. 

The 5 most common mistakes every business owner should avoid are as follows; 

1. Less identification of their goods and services 

2. Believing that family and friends are their primary consumers  

3. Zero knowledge or understanding of the social media, digital culture and its advantages 

4. Poor ethical skills to work 

5. The deafening to collaborations 

 1.  Many businesses are yet to identify their goods and services leading to poor branding, no price tags and a shabby outlook to what they wish to represent. Many have ran into the economic chaos of believing that since it is a common good, everybody would want to be a part of it. 

 2.  Family and friends may patronise you but they’re not your primary consumers, clients or customers(either box you wish to tick, they’re not). They might be your publicists, cheerleaders or lead advertisers but they’re not your primary consumers of whatsoever you are selling. You need to identify who it is(your target audience) and how to maximise their potential. 

 3. Many businesses are still leaning on the leverage of the traditional media which is good but in an evolving world, there has been different shifts towards the promotion of businesses. In one of our stories, we noted the benefits of social media ads, you can leverage on that.

 4. A lot of businesses have poor ethical skills in terms of communication, marketing, public relations and advertising. The concept of a “one-man company” or that of “having to employ my ‘people’ to work” has really let many down. Take a leap and have professionals handle your business.

 5. Collaborations could be the last stroke on the canvas to make everything beautiful but many are yet to open up to that. The presence of two or more competent hands, brains and minds have helped businesses such as Microsoft, Apple and a host grow. So why have a deafening ear to it. 

These mistakes can either be avoided or corrected and so, we need to learn from them to have a more prosperous business