Never Make These 5 Mistakes in Business

It’s easy to comfortable with the status quo. And most people don’t like change. But to really fog the mirror in business you can’t be satisfied with the status quo. You can’t afford to get comfortable. Because if you do, your competitors, your customers or the unknown can – and most likely WILL – surprise you. Here’s 5 mistakes you can avoid – 5 reminders to keep change agents fogging the mirror of business.

1. Never ever compete on price – ever! I’m not saying don’t price things fairly, I’m saying don’t undercut the competition or, if you’re a small business, try to compete with big box stores. You’ll develop a bad reputation by doing so and may lose your perceived value among your current customers.  
2. Never take customers for granted. In a world where customers can cherry pick, buy online, and make purchase decisions based on what their friends say on social media, it’s increasingly important to never take your customers for granted. Do so, and you’re writing your own tombstone.
3. Never assume you know your customers. Don’t assume your customer’s needs are the same as they were a year ago. Constantly stay in contact, ask questions and really listen. Don’t offer dog food samples to someone without a dog.
4. Never stop selling your company to your customers. Once you stop selling your company to your customers, they’ll forget about you. Selling doesn’t have to be just about your newest product or scheduling a reorder. Connect with them on social media, help solve a problem, or ask them how they’re doing. Think outside of the box – it doesn’t have to be a sales pitch.
5. Never stop living up to your brand promises. A brand is a promise delivered. Don’t let your customers down by failing to deliver. Fail to deliver on a continual basis, it becomes harder and harder to make a profit.

Avoiding these mistakes will take you a long way. Everyone makes mistakes – and in most cases no one dies and you move on. What mistakes do you avoid, or have made and learned from? Tell me on Facebook or Twitter and I may update this post with your suggestions!

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Jeffrey Hayzlett is a global business celebrity and speaker, bestselling author, Contributing Editor for Bloomberg Television, and former Fortune 100 c-suite executive. He is the CEO of The Hayzlett Group, an international strategic business consulting company focused on leading change and developing high growth companies. Contact us for more information.