Assumptions That Are Hurting Your Business
There are a lot of assumptions that can get you in trouble as an entrepreneur. The risk taking and the single-minded focus can make you successful, but the very same thing can bring you to your knees. You can make quick decisions which can serve you well and at the same time many expectations can leave you wondering what went wrong. These are 5 conclusions that you have come to that may be wrong.
1. People know who I am
This assumption kills so many businesses. I own a couple of restaurants, one of them is in a town of only five thousand people and is located on Main Street. I went around to other local businesses after being in business several years and introduced myself. To my surprise one owner had no clue who I was. She had never heard of my restaurant even though I was only one block away. When you own something you tend to think others view your business the way you do, but the chances are no one knows you. Do not assume people know who you are or what you do.
2. My employees work just as hard
It is simple to think that that your employee work just as hard when you are not there. The fact is they don’t. The key is to make the drop off less when you are not there. This will only happen when you care about them and get them to want to work. If you are a dictator, your staff is merely waiting for you to leave. Don’t assume your employees work hard when you are gone and try to close the gap.
3. Cute baby
There are so many ugly babies out there. No one thinks they have an ugly baby. The fact is you are not a good judge of the cuteness of your child nor the success of your business. You most likely have gotten so enamored by your business that you are not a good judge of whether it is good or not. Get an outsider’s perspective who understands your business to make sure that you have a solid company.
4. Things will remain
When things are good, it is assumed that it will remain that way. This is not reality. Companies go through seasons; winter, spring, summer, and Fall. Some seasons are long and some are shorter. The reality is you will face them all. Things never remain, so make sure you move with the times. Store for winter and take advantage of spring and summer. The one thing that is constant in business is that things are always changing.
5. I am better
We all think we are the best, specifically in customer service. Most likely you are not as good as you think you are. There is a saying in business that my father always told me, “You are never as bad or as good as you think you are.” Get back to basics and improve every aspect of your company. Even if you are better, increase the gap. Always remain focused on how you can get better.
These are just a few assumptions that entrepreneurs tend to make. Always focus on improving yourself and your company. Nothing stands still, but is in constant motion backwards or forward. Make sure that you are really advancing. Gain outside perspective from others that you respect and you will flourish.
The Business Traveler’s Guide to France
The Business Traveler's Guide to Iceland
The Billionaire Club: Introducing the Top Ten Business Magnates from the East