Small But Widespread Business Mistakes

Last updated 6 July 2020
Small But Widespread Business Mistakes

Neglecting Marketing

It means continuing in any project and startup without having a complete marketing plan complementing specific tasks, responsibilities, and all the things that are required.

Wrong Pricing

The process of pricing a product or service which does not take into account the difference between the cost of the product and cost of sale, which is the cost of selling the product.

Ignoring the Feasibility Study

There must be a detailed study that includes financial, economic, technical study, and marketing study, and highlights the importance of an economic feasibility study in preparing it according to the current market data through surveys, where competitors and current prices in the market and tools are studied. It also includes knowing all the details of the project.

Also read: Economic Feasibility Study for Small Projects

  Economic Feasibility Study for Small Projects

 The Legitimate Capital

It is the possibility of opening a project and an emerging company without the presence of the capital, the actual amount required is at least five times to face unexpected risks and problems. Therefore, the presence of financing methods that guarantee the continuation of the project is the most important factor for your project before starting it.

Also read: The Most Important Basic Channels for Digital Marketing

Lack of Compatibility between Partners

It may work to separate them from the project and this works on the failure of the company in the beginning because projects are based on compatibility between the partners, so compatibility is an important reason, it does not mean if we are friends that we can be business partners, because commercial project partners need to agree on the goals and on the difference in the methodology of implementation, so you should choose your business partners without relying on feelings and emotions.

  Feasibility Study of Transport Truck Rental Project

Also read: How to Gain a Competitive Advantage in the Markets

Business Model

If you are the owner of the company, you should see the business model and get to know more about it because it is useful for you in planning for the future and profitability as well and filling all the fields in it to excel in your business.

Randomness and Lack of Training

You must prepare, train, and organize things during which you speak with the team and organize your papers and work files and build the project stages in the form of tasks and steps and create a project plan.

Also read: 10 Tips for Spending Professional Training

Boredom and Laziness

Do not despair at the beginning of the road to success, fraught with problems, crises, difficulties, and wars, so be prepared and be sure that everyone who works is successful.

اقراء المقالة باللغة اخرى : العربية

Was the article helpful?

Yes No
×

Sorry for that!

×

Wonderful !

947 Views
هل تنقصك معلومة في المقالة ؟ يشرفنا الرد عليك

Leave a Reply

Your email address will not be published.