Like it or not, it’s just a fact that most new small businesses don’t make it to their five year anniversary. While there’s no guaranteed pathway to success, sometimes these businesses don’t help themselves. They make small mistakes which, all tallied up, can cause a significant dip in potential earnings. We outline some of the errors below that small businesses can’t afford to make.

Ignoring the Competition

You’re not out there in the world of business, doing your own thing, devoid of the influence of other people and businesses. Everything is interconnected. Unless you have a unique business - which is unlikely - then you’re going to have competitors. As such, you need to ensure that you’re keeping an eye on what they’re doing: they could be taking great leaps forward, ever improving things, while you’re happy to plod along. We’re not suggesting you copy what they’re doing, but you do need to be aware of how they’re running things.

Web Design

Sometimes, you arrive at a webpage and just know that they’re the real deal. It gives off an impression of trust straight away. Of course, this seldom just happens: it all comes down to the web design process. If you hire the best people to develop your online presence, then you’ll end up with a look that reflects the modern age. If your site design is treated as an afterthought, then you can’t have too many complaints if people aren’t sticking around too long to see what you have to offer.

Focusing Too Much on Social Media

You won’t hear from us that your social media channels aren’t important: they absolutely are. However, they’re not more important than your website. The success of your Facebook, Instagram, and Twitter accounts should be the end result; they should function as vehicles to transport people to your website. That’s where all the business will take place. Make your website your prime online responsibility, and your social media channels second. It’s a funnel to get people to your site, fundamentally.

Not Making the Most Of Leads

Did you know that you’ll never know anything about the majority of visitors to your website? A small minority will submit a form or ask for further information, but the bulk will click X without giving anything away, even if they were interested in what you had to offer. This is where a tool like Visual Visitor can help. It’ll help reveal who is visiting your site, how many times they’ve visited, and what they’re looking at. From there, you’ll have a bona fide lead: you’ll have the details who is on the hook. All you’ll have to do is follow up their interest and close the sale.

Ignoring Customer Feedback

You may have a one-track mind when it comes to how you want your business to function, but it’s always worth remembering that your company isn’t a vehicle for all your thoughts and ideas: it’s bigger than that. If you’re open and willing to listen, then you’ll find that many of your customers just tell you the next move you should make! It can be tricky to get feedback, but it’s possible. Once you have it, it’s imperative that you act on it! There’s little use in getting a customer’s opinion if you’re only going to disregard it.

Cybersecurity Issues

Cybercrime is on the rise and, unfortunately, criminals are mostly targeting small business; the bigger ones have a robust defense, while small companies tend to be vulnerable. While it’s not the most exciting thing in the world, it’s important that you take steps to ensure that your online security is watertight. There have been companies who have lost a lot of money all because they didn’t take the online threat seriously enough. Don’t be one of them!

No Path Towards Success

And finally, remember that the future is coming whether you like it or not! While it’s important that you focus on the here and now, you should also keep half an eye on the future. A company that doesn’t plan for where it’ll be five years down the line might find that the moment arrives and they’re left behind. Always plot your future, it’ll be your path to success!