My biggest mistakes and how to avoid doing the same.

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How to make 2015 better that 2014

Putting all your eggs in one basket has been my biggest mistake in nearly 30 years of being a business owner.mistake

This includes:

1)      Marketing avenues

2)      Manufacturers

3)      Vendors

4)      Referrals sources

5)      Outside sub-contractors

6)      Employees

I’m sure I could list several others, but I think you get the idea.

We’ve all done it. We get comfortable and take the path of least resistance.

In 2015, I believe it’s time to re-evaluate your exposure, time to develop new sources of leads, time to test new vendors, time to test new marketing strategies… because it’s time to take control of your business.

It’s called diversification in the investment world. The reason is simple: if you diversify, you’ll avoid unnecessary risk.

Setting your business up to rely on “One Thing,” whether vendors or marketing, is a recipe for disaster.

Relying on one marketing plan is very dangerous; what if the newspaper or direct mail company goes under?

Relying on one vendor is risky; what if they go out of business or decide to start selling direct? This is especially true if you’re allowing them to control your on-line lead generation and on-line presence.

So it’s time to re-evaluate your exposure. Are you allowing any one vendor to have too much control of YOUR business?

 

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