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The most common cause of business failure

That would be poor management. When you’re a one person business you are the only one you have to please. Here are the most common mistakes small town business owners make when it comes to management.

  1. They hire the wrong people - Inexperienced owners often hire people they like or have a “good feeling” about rather than the most qualified applicants for the position.

  2. Poor training - Even the most dedicated employee can’t perform to their highest level if they are poorly trained.

  3. Trying to do too much - As you move from a one employee shop (you being the one employee) to having more people you still feel the need to do too much. Sooner or later you must delegate some of your responsibilities to others.

  4. Poor use of time - Organization is always a sign of a good manager. It’s not difficult to juggle several business problems if you have an organized plan for doing it.

  5. Not being there to run the business - Absentee ownership is a tough way to run a business. You aren’t there to see the day to day problems.A good manager for this type of ownership is essential but they can’t make the major decisions and you may not have all the information you need when the time comes to make those decisions.

Want to prevent your business from failure - make it more efficient! You can save up to 500 hours and increase productivity and revenue by 40% if you use a business management software.

Bookmemate is an online business management software that allows you to schedule appointments, manage invoices and track your inventory.