Do Not Make These Fatal Mistakes With Your Business

It’s no secret that entrepreneurs are always on the move. But sometimes those moves can sabotage their business. Mistakes are a given, but real entrepreneurs learn from their mistakes. These 4 mistakes can be fatal to your business.

Mistake #4: Giving In to Cash Flow Problems

Don’t give in to desperation. Sound judgment is paramount during these times.

• Make sure you can deliver on your promises.

• Never agree to a sale without a signed contract.
  In closing, entrepreneurs have to learn to trust their judgment. They also need to hone their skills when turning away clients.

Mistake #3: Working For Free

Think twice about how and when you offer discounts. You don’t want customers to think that your product is not worth the full amount. Rather, use incentive sales and offer a bonus.

Mistake #2: Undervaluing Yourself

Similarly, be cautious with discounts. Undervaluing your product can harm your brand. Instead, use incentives that add value rather than reduce price.

Mistake #1: Self-Deception

It takes time to figure out ideal clients for your business. Don’t practice self-deception.

• Avoid working with small clients only because you think they may lead to bigger ones.

• Work only with decision-makers.

• Don’t work for free, thinking it will get you a bigger lead.