{"id":3247,"date":"2014-07-16T06:06:20","date_gmt":"2014-07-16T12:06:20","guid":{"rendered":"http:\/\/www.periniassociates.com\/?p=3247"},"modified":"2014-07-16T06:06:20","modified_gmt":"2014-07-16T12:06:20","slug":"predictable-mistakes-derail-business","status":"publish","type":"post","link":"https:\/\/periniassociates.com\/index.php\/2014\/07\/16\/predictable-mistakes-derail-business\/","title":{"rendered":"Predictable Mistakes That Can Derail Your business"},"content":{"rendered":"

by Michael B. Perini, ABC<\/a>
\nperini & associates<\/a><\/p>\n

The small business owner is often used as the example of how America is built. \u00a0Entrepreneurs make our country great, in my view. However, a new business owner can put their heart and soul (and financial\u00a0savings) into a new business\u00a0only to have several predictable mistakes derail the company.<\/p>\n

Here are 3 key mistakes that each new business owner should be aware of with solutions to resolve.<\/p>\n

First, \u201cbeing cheap\u201d<\/strong>. For each dollar you save you might increase that smile on your face. But if you get too carried away with saving money, you might end up losing opportunities and customers.<\/p>\n

You should develop a plan and account for those new and fresh opportunities, that will come along. \u00a0Say, 10%-15% of your operations budget. Remember, as you have no doubt heard or read, “Rome wasn\u2019t built in a day.” \u00a0However,\u00a0 the Romans were pretty darn smart about succeeding and were always looking out for new opportunities and were making investments where it mattered. \u00a0Several on my list would be: \u00a0training, recruitment of staff and facility enhancements. \u00a0There is one more. \u00a0Keep reading.<\/p>\n

Second, \u201crefusing to hire those\u00a0who might be\u00a0smarter than you.\u201d<\/strong>\u00a0 Yes, a staff member might know more than you about a particular aspect of your business, but it does not mean he or she, and the rest of the team, won\u2019t respect you as a leader.<\/p>\n

True, you have to earn that respect, and you might need to work on that to do so, but it will result in dividends. \u00a0In my company I have a number of associates that are smarter than me. That is why they are here. \u00a0Collectively, we can do more for our clients\u00a0than if each of us individually was\u00a0left alone.\u00a0 Look, my clients respect the fact that I have such a strong team. \u00a0They also appreciate that I have the confidence to allow them to have a real impact in key decision making.<\/p>\n

Finally, \u201cnot allocating a PR or marketing budget\u201d<\/strong>. \u00a0Yes, I know you likely saw that coming. \u00a0It \u2018s so true!\u00a0 I have a new client questionnaire that I use. \u00a0The form includes this simple question: \u201cDo you have a public relations or marketing budget?\u201d \u00a0I can\u2019t tell you how often the respondant marks a \u201cno\u201d.<\/p>\n

A consistent marketing effort is needed today, especially in an economy that is becoming more competitive. Failing to have a approved\u00a0budget for campaign planning, traditional media usage, social media and crisis communications, among other key aspects of promoting a business, \u00a0is placing your PR and marketing program well below everything else in priority order. In our experience, a new business should allocate about 7-15% in operating funds for\u00a0public relations and marketing. The funding can vary depending on milestone goals to deliver product and services to customers. \u00a0Look at this budget as an investment. \u00a0Not as a cost.<\/p>\n

So yeah, much\u00a0can go wrong when starting a business. \u00a0However, working on these three predictable mistakes will make the journey more productive and reduce the risk of failure. \u00a0Good luck!<\/p>\n

For More:<\/p>\n

www.periniassociates.com<\/a><\/p>\n

On Facebook,<\/a> Twitter and Youtube<\/p>\n

customerservice@periniassociates.com<\/p>\n

“A PR and Marketing Firm with “Attitude at Altitude” in Woodland Park, Colorado”<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

by Michael B. Perini, ABC perini & associates The small business owner is often used as the example of how America is built. \u00a0Entrepreneurs make our country great, in my view. However, a new business owner can put their heart and soul (and financial\u00a0savings) into a new business\u00a0only to have several predictable mistakes derail the […]<\/p>\n","protected":false},"author":2,"featured_media":99456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[7,425,195],"tags":[423,477,39,335,102,48,49,333,254],"class_list":["post-3247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advice-and-counsel","category-marketing","category-social-media-2","tag-colorado-pr","tag-management-advice","tag-marketing","tag-marketing-budget","tag-perini","tag-perini-associates","tag-pr","tag-small-business","tag-woodland-park"],"_links":{"self":[{"href":"https:\/\/periniassociates.com\/index.php\/wp-json\/wp\/v2\/posts\/3247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/periniassociates.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/periniassociates.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/periniassociates.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/periniassociates.com\/index.php\/wp-json\/wp\/v2\/comments?post=3247"}],"version-history":[{"count":0,"href":"https:\/\/periniassociates.com\/index.php\/wp-json\/wp\/v2\/posts\/3247\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/periniassociates.com\/index.php\/wp-json\/wp\/v2\/media\/99456"}],"wp:attachment":[{"href":"https:\/\/periniassociates.com\/index.php\/wp-json\/wp\/v2\/media?parent=3247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/periniassociates.com\/index.php\/wp-json\/wp\/v2\/categories?post=3247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/periniassociates.com\/index.php\/wp-json\/wp\/v2\/tags?post=3247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}