The fifth and final part to the “50 of the Worst Business Mistakes You Can Make” deals with everything human. People are elemental to your success. They are the lifeblood of any business, so if these mistakes are not identified and addressed, you’re business will be doomed. Lets examine what these tried and true problems are.
Do not make these mistakes with your people:
1. Insularity: Detaching yourself from the people around you is an excellent way to destroy your business.
2. Unwillingness to Talk & Share With Competitors: Networking is a powerful part of business. If you fail to network effectively, you will surely crash and burn.
3. Poor recruits: Pay close attention to who you recruit and hire. Look for employees that will stay for the long term.
4. Badmouthing Competitors: You don’t have to like your competitors, but you do have to cooperate with them.
5. No Benefits: Offering benefits to your staff is the best way to keep them around. If you don’t offer any incentives, they will go on to bigger and better things.
6. Staying Informed: Stay informed with what is current in your industry, or your competitors may pass you by.
7. Keep Things Fair: Keep things fair with your competitors. Don’t steal ideas or products. Respect one another even if you are competing.
8. Cold Calling: Cold calling is not the answer to networking. Meet your contacts in person first.
9. Getting too personal: Getting to know your networking contacts is a great way to spread the good word, but getting too personal can be a deal killer.
10. Drinking at social events: Just because there is alcohol where you’re networking, that does not mean that you should drink! Stay sober.

At the Capital MatchPoint, we’re here to make sure these won’t be mistakes but addressable items that you can prepare for. Call us at the Capital MatchPoint and we’ll mentor you through the minefields and you’ll be prepared to further your business and raise the capital you seek.

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