Your brick and mortar small business demands a lot of your time and energy. Not only are you responsible for steering the whole ship in the right direction, but you also have to watch out for icebergs along the way. In the real world, these icebergs would be the mistakes and impulses that can set your business back to one degree or another.
Over time, if you don’t deal with these things in a proactive fashion, you can wind up completely sabotaging your local shop.
Here are some of the ways to completely sabotage your locally owned small business. Being completely honest with yourself, see how many of these apply to you:
1. You copy a business model of a much larger company: Instead, focus on the advantages of being an independent retailer. This includes flexibility, as well as closeness to customers.
3. Your approach lacks creativity: When faced with numerous choices, shop small customers are more likely to respond to a shop local business that engages them with creativity and energy.
4. You’re only willing to do what you love: Make your small business open to anything that brings in revenue and new customers.
5. You won’t spend a little to save a lot: Budgets are tight, but spending a little now for things like outsourcing can save you a lot of money and time later on.
6. You aren’t honest with your own strengths and weaknesses: You need to be absolutely brutal, or find someone you trust who will give you that.
7. You live and breathe nothing but your business: You aren’t doing your brick and mortar small business by making zero personal time for yourself.
8. You are an isolated small business owner: Are you reaching out to your community? Are you working alongside other small businesses in the area?
9. You lack a personal touch: You are ultimately the face of your independent small business. What are you doing to connect that face and personality with your community?
10. You won’t take any risks: “Nothing ventured, nothing gained” might be a cliché, but it’s true.
11. You take too many risks: Of course, there is also such a thing as taking too many reckless risks.
Hope this helped. Check out our knowledge center for more great tips! Need funding? Click below to get started.