Business Do Nots
Do Nots http://www.bradwheller.info http://www.whellerglobalised.com
I’ve endured my share of highs and lows in business. Running a business is a lot like being on a rollercoaster, you never really know what direction your business journey will throw you. I found five things an entrepreneur should not do:
1. Do not. Believe bigger is better. A public relations firm with high fees and impressive client lists seems like a good bet for entrepreneurs. But, you could do better with a smaller firm that will be eager to have you as a client. Find a young, more aggressive firm to handle your account, one that gets the results needed. Using effective social marketing, guerilla techniques, consumer and corporate education.
2. Do not. Put all of your eggs in one basket. Businesses that rely on a single supplier,vendor or type of customer are short of good choices. A retail store owner, friend of mine had one company do this. It took a dive because it was too dependent on the delivery industry. Customers embraced its retail superstore concept, but things began to fall apart, when forever cost-cutting service providers drastically raised rates and cut sales commissions. At the mercy of an industry he could not control, he never saw the fatal blow to his company coming.
3. Do not. Neglect your employees. Another associate lost many talented people when he started a second New Co. Before developing a large site on the web, he owned an agency. Not wanting to dilute it's strength he invited only young, up-and-coming employees to join the fledgling company. Months later, he learned that many key employees at the agency were leaving because they felt left out. He had erred by not asking them to be in on its growth.
4. Do not. Trust everyone. Remember...stay tuned.