Top 4 Ways To Kill A Business Before Turnover

Do not beat around the bush; the reason why most people create a business is for profit. This is fine, until after a few years, the business seems to die out, as there is no profit left to pay salaries and grow the business. There might be initial shock from business owners, but deep down, here are the top 5 ways to kill a business before turnover:

As earlier stated, most businesses, asides from NGOs and similar organizations, are to make a profit. This is a great preemptive to start with any venture unless for the fact that pushing for profit alone would blindsight the business as a whole. It could make employees focus on quantity rather than quality, and as a result, the product becomes less effective than the customer requires. The way to address this problem or profit and sustainability is to charge commensurate to services. Quality is retained, and consumers get a good value for their money.

• REJECTION OF TECHNOLOGY

Most businesses would prefer to keep methods of production manual to save cost. It might seem wise in the mean run, because the cost is saved on purchasing machinery or extensions, as the case might be. Consumer demand may increase, fast forward to the long run, and with increased demands comes increased pressure to meet it. This can cause some irregularity in products and defects; more so, the business might find it hard to meet the demands and always be out of stock. With products continually being out of stock, there is a high chance that consumers would shift to a readily available product.

• POOR CUSTOMER CARE

The customer is the business, but apparently, business owners see no wrong in treating the customers as a means to an end. The one thing that customers encounter is the customer care representatives assigned to the products they purchase; there is no friendly tone or approach as the customer care representative relates with the customer.

Asides from the fact that many business owners have refused to automate their business processes, what is worse off is when the business person is the delivery agent and the business’s customer representative. This means that there is a lot of pressure on one person, and it is easy for this one person to snap at any major inconvenience caused by the customers. This doesn’t seem right on many levels, as these individual roles need focus attention for effective delivery. If you intend to kill your business before turnover, this is a sure-fire way to achieve that.

These are only a few of the reasons why businesses die before turnover. As a person who intends to grow a business, it is important to consider these tips and give the best attention to ensure that they do not occur in the business. It is advisable to call these to the staff’s attention to intimate them with the business expectation, and aid in business growth.