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  • Writer's pictureDr Raewyn Sleeman

Are You Making This Fatal Business Mistake? The Answer May Surprise You

Updated: Sep 6, 2023


Picture of a caution sign for small business owners asking Are you making this fatal business mistake?
Are you making this fatal business mistake?

Are you a business owner who is struggling to keep your business afloat? You might be surprised to know that there's a common mistake many business owners make that can lead to failure. And the answer isn't what you might think.


When you first start your business, things might seem great. People are coming in, and you haven't had to spend a lot of money on advertising. But then, slowly, you start to lose customers. You wonder what's going wrong. And that's when you make the fatal mistake.


You compromise. You start serving smaller portions, overlapping hair clients, and cutting back on staff. You might even try a daily deal or deep discount to bring in more business. But these tactics can actually accelerate your failure, especially if you have low margins and costs associated with each customer.


The truth is, the future of your business, your family, staff, and customers, are at stake. And when you hear that voice inside your head telling you to compromise, telling you things you know aren't right, you need to stop it right away. Don't lie to yourself, and don't go down that road. You know where it leads.


You might think that your failing business is through no fault of your own. But according to a study by Rogoff, Lee & Suh, many small business owners have a potential bias to blame everything except themselves for failure. It's a conscious choice, and it's one that you need to make.


But there's hope. The Marketing Strategy app can give you the confidence to make the right decisions to grow your business profitability. With a 7-day free trial for all access, you can download and try the app yourself. So don't wait, make the right choice for the future of your business today.



 


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