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Yelser

What is the biggest business blunder you’ve seen SMEs make?

Small and medium businesses are in a constant flow of trial and error. They get to experiment a lot on their path to find that sweet spot that works for them.

In this process that could last years, many mistakes are made. Some manage to recover while others are crushed completely.

This is for the business people as well as potential entrepreneurs here to laugh and learn from these mistakes, while identifying what not to do when their time comes.

Please share some of the mistakes you’ve seen being done by orhers or your own experience as a business person. This is a safe space. #letslearn

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1 Her Answer

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    Not investing in financial management softwares like quickbools and excel soon enough. The process of moving financial paperwork to a new system can be taxing and cause issues especially is the business has grown. Implementing such systems sooner or at least having a plan and preparing for the change saves you another later on.

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1 Answer

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    This makes them overlook many key points that can only best be addressed at the beginning like branding, business culture, and core values.

    If a business gets these wrong while starting up, you set your self for failure or risk redoing them at a much bigger cost later on after the business has matures.

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