Don’t make these 3 mistakes if you want your business to succeed

holding plant sprouting from handful of coinsWhat are the issues faced when transforming your company from a small business into a large enterprise?

In my experience, SMEs are hindering their growth in three major ways: emotions-based decision making, lack of attention to key business drivers and a business as-a-hobby mentality.

 

 

  1. As small business owners we fail to focus on the key overarching factors driving our business because we are trapped down in the operational detail.
  2. Decisions are often made for emotional and family related reasons and not based on solid facts.
  3. Many of us treat our business as a hobby, pursuing parts of the business we find enjoyable, rather than taking decisions based on business profitability.

Having worked with SMEs over the last 20 years, I see these problem areas regularly and consistently, and as I explained to Business Insider  journalist Sarah Kimmorley, they can be easily fixed with focus and goal setting.

How do you make sure your small-to-mid sized business doesn’t make the same mistake?

Read the full article in Business Insider, Don’t Make These 3 Mistakes If You Want Your Business To Succeed.

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