{"id":168,"date":"2014-05-21T11:56:23","date_gmt":"2014-05-21T18:56:23","guid":{"rendered":"http:\/\/www.ldproducts.com\/blog\/?p=168"},"modified":"2014-11-13T01:26:16","modified_gmt":"2014-11-13T01:26:16","slug":"five-common-mistakes-every-small-business-avoid","status":"publish","type":"post","link":"https:\/\/www.ldproducts.com\/blog\/five-common-mistakes-every-small-business-avoid\/","title":{"rendered":"Five Common Mistakes Every Small Business Should Avoid"},"content":{"rendered":"

1. Hiring the Wrong Team<\/strong><\/p>\n

This error is considered by most to be the single most costly error in business. The wrong team won\u2019t just hit you in your wallet, but it will also serve to deplete morale and may cause valuable employees to leave in search of greener pastures. As in a pickup game of basketball, it could be tempting to hire your friends but ask yourself \u2013 are they the right choice for my team\u2019s chance at victory?<\/p>\n

2. Evading Legal Assistance<\/strong><\/p>\n

Lawyers aren\u2019t cheap, but businesses, especially as they become successful, open themselves up to possible legal action that can be back-breaking. Make sure consult a lawyer when it comes to contracts, or consider hiring a full-time paralegal employee who specializes in business practices to keep your company\u2019s nose clean and its profits secure.<\/p>\n

3. Skimping on Marketing Expenses<\/strong><\/p>\n

There\u2019s no way around it \u2013 if you want to run a successful marketing campaign, you\u2019ll have to spend money. Nothing is free. You may think social media is free \u2013 it\u2019s not if you want it done right; or, you might think SEO is free – another myth. It takes money to make money and although some avenues of marketing offer a lower cost than others, they\u2019ll require time and resources to be done right, neither of which is without its price.<\/p>\n

If you\u2019re not sure how much to allot to marketing, simply start with 10 to 20 percent of your targeted gross revenue. That will give you enough money to see some results, and will put you in a position to see if more is necessary, or if it is possible to make do with less.<\/p>\n

4. Not Taking the Time to Understand or Invest in Technology<\/strong><\/p>\n

Technology is a huge asset to any business. With some careful research, you can discover business applications that can greatly streamline your efforts, enhance productivity and ultimately boost profits. Keep your ear out for new technological roll-outs and attend conferences to learn about products that may prove to be a huge asset to your business.<\/p>\n

5. Holding Out for Perfect<\/strong><\/p>\n

Don\u2019t wait for perfect when good will do. If you fall victim to this common mistake you\u2019ll miss opportunities by simply not acting. Luck is a great friend to all business owners, but luck is dependent on an action. If you\u2019re waiting around for something to happen you\u2019ll miss the chance to take lady luck by the arm.<\/p>\n","protected":false},"excerpt":{"rendered":"

1. Hiring the Wrong Team This error is considered by most to be the single most costly error in business. The wrong team won\u2019t just hit you in your wallet,…<\/p>\n","protected":false},"author":1,"featured_media":169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/posts\/168"}],"collection":[{"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/comments?post=168"}],"version-history":[{"count":1,"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/posts\/168\/revisions"}],"predecessor-version":[{"id":731,"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/posts\/168\/revisions\/731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/media\/169"}],"wp:attachment":[{"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/media?parent=168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/categories?post=168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ldproducts.com\/blog\/wp-json\/wp\/v2\/tags?post=168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}