Home Advertise Contact Blog Advertiser Login High-Yield Investments
Newsletter Signup

Business Opportunities
Change Your Life Get Into Business For Yourself Online Business Opportunities
Home-Based Business Opportunities
Licensee Opportunities
Low Cost Opportunities
Distributorship Opportunities
Home-Based Businesses
Choosing a Business Opportunity Growth and Profit Marketing and Sales
Plans and Goals Running Your Own Business Start-Up
Working From Home Entrepreneur Exchange Feature Articles
Opportunity Community Opportunity Focus In The News

Expanding Opportunity Services - It has always been our mission to provide the best customer service possible and have recently added no cost training and coaching sessions for all active advertisers. Now, we are going a step further to address the one major problem faced by opportunity owners–lack...

Drone Technology - Don’t think drones and franchises and businesses opportunities have anything in common? Think again. Drone technology is transforming the way many industries tackle a wide range of everyday services.

Drone Technology - Here is a look at how drones are impacting the way businesses...

Better Salespeople - “One thing I do know is you have to be able to sell if you own almost any type of opportunity and if you can't you should hire someone who can. Problem is what type of person makes the best salesperson that you can count on and why?", says business opportunity...

Business Opportunity for Sale

Sponsors

Get a piece of the BILLION DOLLAR APP INDUSTRY! LOCK IN A TOP POSITION. Click of Call Bill Toth Phone: (716) 345-1888
Need To Fill Positions Fastest Growing, All Inbound Call, Direct To Consumer Distribution Team In The USA! 217-718-4744
Be A Distributor
Work-at-Home
Small Business
Resource Center > Article
Costly Business Mistakes to Avoid
25 Oct 10 Posted by: Zipporah Porton
in Growth & Profit
Share this Article:

Just because a business is large in size doesn’t mean that it is immune to financial mistakes.  There are a number of things that small and large businesses alike tend to do that will end up costing a lot of money in the end.  The difference is that a small business opportunity is going to miss the money a lot more than a huge enterprise.

As a budding entrepreneur, pay attention to the seven mistakes below that small businesses – and large businesses – tend to make that can be costly over time…


  1. Lack of planning ― Your initial business plan is not the only plan you will ever need to make.  A solid business requires careful planning throughout the entire life of the company.  If you’re going to launch a new product or expand into new territories, plan carefully to insure you have enough money in your budget for what you want to do.  For example, if you want to send out brochures to your client base about a new product, you have to plan ahead.  Also, sometimes it’s a better idea to plan a less expensive solution, such as an e-mail blast, which is just as effective and a lot less costly.

  2. Lack of flexibility While you need to carefully plan budgets, etc., you also have to be prepared for roadblocks.  If you decide that brochures are the way to go, you can’t trash the entire idea when you realize you’ve made a huge spelling error.  Instead, see if there is a creative way to salvage the brochures so that they can still be used as an effective marketing tool.

  3. Not properly utilizing the Internet ― I won’t name names, but you’d be surprised how terrible some of the websites are that belong to larger companies.  The sites are either too busy and confusing or they simply don’t work properly. While those companies might not miss the customers who are turned off by the website that is broken or difficult to use, you will.  Make sure that your site is clear and user-friendly so potential customers won’t run away.  Also, always make sure that it is in operating order!  On the same note, social media is practically a free method of getting the word out about your small business.  Many large corporations are just starting to understand how to utilize Facebook and Twitter, which means you need to be an expert from the start.

  4. Fear of spending money ― You must spend money to make money. While you need to be somewhat frugal in the beginning, there are times when it doesn’t pay to scrimp on costs.  You’re going to have to spend money to find quality employees and create influential marketing materials.  In both cases, it is worth it to spend a little more to get the best results.  Large companies aren’t paying attention to every single employee, and are therefore wasting money on people who are not getting the job done.  As a small business, you have the luxury of making sure your employees are getting paid what they deserve and doing the work that needs to be done.

  5. Broad advertising ― With limited funds, you should focus on targeting a specific audience with your advertising.  Have you ever seen a billboard that advertises a product that makes no sense in the neighborhood where it is located?  This is a waste of money and won’t bring in any new customers.  Make sure you’re targeting the right audience with your advertising dollars.

  6. Unnecessary overhead At big companies, no one notices when an employee uses company postage to mail wedding invitations.  Large companies have a set budget for office supplies, etc., without looking into what they actually need.  As a small business, you don’t want to stand over your employees and monitor every letter they mail, but you should have a good idea what the company needs to run smoothly.  Paper has two sides, and if it isn’t an important letter, there is never a reason that only one side should be utilized.  Saving on the little things can add up to a lot.

  7. Doing everything alone This problem affects small businesses more than large ones, but overall every entrepreneur needs to know when to ask for help.  Large companies may decide to plan a marketing tactic on their own when outside help can result in a better outcome.  While you might not have the monetary resources to hire a PR firm or outside marketing team, you could always hire a consultant on a freelance basis for some input.  Never be afraid to ask for help.  Not only will it save you money, but it can also save you a headache.

Live On Your Own Terms
Related Blog Posts
19 Aug 16 Posted by: Kevin James Culp
in Growth & Profit

The Business Franchise Opportunity Sales Tips 7 Part Series was an idea launched by Keith Shaffer Director of Personal at TheLocalProject.net two weeks ago after a coaching session.  The credit goes to him for this...

Live On Your Own Terms
10 Feb 16 Posted by: Kevin James Culp
in Growth & Profit
Sales Hack to make you more money! Sales Hacks are not new, but how you use them is.  We receive lots of emails from people about various issues and we are always happy to help.  We also in many cases learn how we can do business better for the future.  Today, I share with you an actual letter we received...
Live On Your Own Terms
29 Dec 15 Posted by: Kevin James Culp
in Growth & Profit
Funding is the lifeblood of any business. The principle reason entrepreneurs put off starting their own business is lack of it. Raising funds from venture capitalists, friends and family is fraught with danger and is often very time consuming. Funding your business by mortgaging your home is risky too....
Live On Your Own Terms
1 Dec 15 Posted by: Kevin James Culp
in Growth & Profit
You would like to increase your reach to mobile customers. That is good and awesome; and truly we do wish you much success in being able to achieve this great goal, which will enable you to increase your revenue potentially, which is the main reason you want to do this in the first place. So here are...
Live On Your Own Terms
26 Apr 15 Posted by: Kevin James Culp
in Growth & Profit
"According to a recent study, 81% of B2B Marketing and Sales professionals are using an insights-based approach as part of their strategy. These team of professionals commonly develop four types of insight-driven content, which are:
Live On Your Own Terms
Featured Listings
Entrepreneur
Be Your Own Boss

The Billion Dollar Salesman -Serving the World for 28 Years! I’ve truly lived a blessed life and I have also been fortunate to have many mentors that provided me with guidance and motivation. As a result of learning how to do things the right way the companies that I’ve owned have generated just...

Read More

Opportunity Video Spotlight

United Games! The first and only business that will pay you 24/7 365 days a year when people are watching NFL, NBA baseball, soccer, cricket, rugby, hockey in fact any major sport anywhere in the world.

Premium Sponsor


Online privacy protection is estimated to be a 119 billion dollar industry by 2019! We are headquartered in Switzerland, a country that boasts the strictest data protection legislation and innovative solutions in the world. We're a debt free company providing Swiss based solutions to protect privacy, security and confidentiality of personal data on a global scale to virtually every home, business and enterprise. This is Swiss made protection with no back door access to encryption that secures your data from security breaches from unwarranted spying, cyber crimes and target advertisers. That is why many Swiss banks use our solutions to communicate with their customers today.