Top 10 mistakes you are making as a Business Owner: Kewal Kishan
New Delhi [India], April 26 (ANI/Digpu): No matter how smart a Business Owner is, he still goofs up things, which becomes a roadblock preventing him from scaling his business. There are lot of mistakes that business owners make in their day to day activities due to a lack of systems. If you are a small or medium business owner, then you might have not realized you are committing these too.
After training more than 3,500 Business owners from 15+ industries, Kewal Kishan, Business Automation Coach, has discovered the 10 biggest mistakes committed by most of them now let's find out if you are one of them making these blunders:
1. Everything is dependent on you
According to writer of the book E-myth, Michael E Gerber, '90% of the Business owners struggle to scale their business due to lack of systems', because of which everything is dependent on them. In reality, they are not business owners but self-employed people. Everyone and everything relies on them as a result of which they are hardly left with any time for the growth of their Business.
2. You are not delegating enough
You might have often experienced delays in the delivery of the work assigned by you to your team due to which you either stop delegating work or you don't delegate enough. Until and unless, you don't have a proper task delegation system and a proper reminder system going on, your team will remain inefficient, missing all the deadlines.
3. You are not giving any strict deadlines to your work
When there is a Deadline, there is Delivery and when there is no Deadline, there is always a Delay. Without a proper system it is difficult to give deadlines, set the reminders and track the performance of yours and your team.
4. Doing too many things at once
Business owners manage so many things simultaneously- orders, team, vendors, clients etc. leading to either no or such minute progress which is not significant enough to scale your business. If you focus on only one thing i.e. to build systems, you can grow your business big time as you are moving in the same/one direction.
5. Not Planning week/month in advance
Any plan is better than no plan. Warren Buffett says '20% of your actions create 80% of your results' . If you are not planning your day in advance then you don't control your day, your day controls you.
6. Only dependent on referrals
Are you just sitting on your desk waiting for referrals? A lot of business owners opt for passive sales rather than active, where they are only able to get a few referrals. Alternatively, if you know how to generate leads and enquiries via Linkedin, Facebook and other resources, you can make a huge number of leads and increase your sales.
7. Afraid to adopt technology
Earlier we used to visit markets to get the products that now can be easily sourced from e-retailers like Amazon, Flipkart etc. who offer varieties of products delivering at your doorstep. Every Industry is adopting systems to scale and if you don't adopt technology then you will become a dinosaur in your industry.
8. No Analysis of Business Performance
Big companies invest crores of rupees in data analytics to analyse numerous KPI's like their daily/weekly/monthly sales, top running products, top performing clients etc. In the absence of tech and systems you'll be unable to analyse things and remain clueless where you're heading towards.
9. Not thinking about the growth of your business.
Business owners often work overtime to meet the deadlines as a result of which, not only their business goes down but also their health deteriorates. Since, they are always involved in firefighting with their team/clients/vendors they're just busy in transactional day to day activities and not focussing on growth oriented tasks.
10. You have somehow believed that this is what being a business owner means, struggling and working 24/7.
A real Business Owner is not the one who works in the Business but who works on the business. The one who just manages things, analyses and keeps improving them and can get all the time for themselves, their business, their family, for health and vacations.
If you are right now struggling to spare some time for yourself, then you need to immediately adopt systems in your business, so that each process takes place in a particular manner and can be easily tracked.
To join the live masterclass and to know how you can 'Put your business to autopilot and scale it to 10X' visit www.kewalkishan.com in order to understand how you can build systems easily for your Business to scale it.
This story is provided by Digpu. ANI will not be responsible in any way for the content of this article. (ANI/Digpu)