The Seven Deadly Sins of Business

The Seven Deadly Sins of Business
While running a successful business is not easy, there are
rules that you can follow that will almost certainly
increase your success. And there are also sins that will
guarantee your failure. Here are the Seven Deadly Sins of
Business.

1. Inexplicitness.

If you are not explicit in what you want to achieve for
your business, you are highly unlikely to be successful.
Setting out clear goals for your business allows you to
develop strategies to achieve your goals and to create
plans which will ultimately drive your business to success.
Without goals, strategies and plans, you are just depending
on luck- and how has that worked for you so far?

2. Apathy.

Running a business is a major personal commitment- 24/7.
And if you are apathetic about your business, it means that
you will be unable to make the commitment that you need for
success. Commitment requires passion. You are the closest
person to your business, and if you are not passionate
about it, why would your employees or customers be? If you
aren't passionate about what you are doing, find something
that you are passionate about and do that instead.

3. Pride.

Pride in your business is a good thing, but being so proud
that you don't ask for advice or help will seriously limit
your ability to grow. No-one knows it all. Successful
business owners surround themselves with smart people.

4. Inactivity.

If you are waiting for others to recognise your brilliance,
you may be waiting a long time. Business is generated
through taking action. And the best idea in the world just
remains an idea until someone takes action on it. There is
no return from inactivity.

5. Non-perseverance.

Giving up at the first hurdle will never result in success.
Businesses seldom get it right the first time. Thomas
Edison tried 10,000 different filaments before he invented
the light bulb. Perseverance is essential for success.

6. Guessing.

If you do not measure the response of each action and
tactic of your business, from marketing to service
delivery, you are just guessing about what is working and
what is not. This means that you will be making bad
decisions on what you should stop doing, what you try, and
what you should change to improve. And while you are
guessing, your competitors are improving through measuring
their activities, and leaving you behind.

7. Disorganisation.

If you do not organise your business, your costs will rise,
your productivity will decline, and you will lose customers
as your service will be inconsistent and unreliable.
Systems ensure that your services are provided consistently
following your best practice, no matter who is providing
your service. They eliminate the cost of non-compliance,
and ultimately create a saleable asset of your business.
Without systems, your business will always depend on you
being there and you will forever be reacting to events and
fighting fires. Such a business has no long term future.

Of course there are other lesser sins that will effect your
business, but if you avoid these seven, your chances of
success will be greatly enhanced.

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Dr Greg Chapman provides advice to small business owners in
Australia on how to Multiply their Profits with Smart
Marketing Strategy and Make Their Business Run without them
with Systems. Visit the Australian Small Business Blog at:
http://www.gregchapman.biz for further business articles.
Or get yourself a Free copy of "The Four Pillars of
Guaranteed Business Success" when you visit
http://www.AustralianBusinessCoachingClub.com.au .