11 Dumb Mistakes That’ll Tank Your Magnetic Business
October 26, 2021
As a business owner, I get asked a lot about the importance of being magnetic. One of the biggest mistakes that I see is when businesses don’t invest in their marketing. If they don’t have a consistent voice that speaks to their customers, it translates into a loss of sales.I’ve always thought of marketing as the art of creating and sharing information about your products, services, and services that will help your customers connect with you. It’s a huge part of what distinguishes a successful business from a business that isn’t doing well. It’s also a huge part of what will turn a business into a failure.
Not only that but if a business does not have a consistent voice, it’ll quickly be noticed by customers. For example, if a company isn't giving its customers any reason to stop buying their product, it’ll quickly receive a negative review. If a company is giving away coupons, but not giving away its own product then customers will quickly ask why. This is why companies need to be consistent with their marketing.
So you need to always be consistent.
But this doesn’t always apply to your competitors. If you arent is also consistent you'll quickly become a negative influencer for your competitors. And you don’t want to be this negative influencer. So if you've got a business where you don't always follow your customers, they'll notice.If you’re a business that rewards loyalty, but you don't reward loyalty then you're going to have to deal with this. To be a positive influencer you need loyal customers to always be checking up on you. And if your loyal customers are not checking up on you then you will quickly find yourself in a position where they can go elsewhere.
We all make mistakes, but the good ones we make are the ones that make us the best at what we do, not the ones that we’re caught off guard by. They don’t happen often, but they’ll happen if you don’t pay attention. So if you make a mistake, keep an eye on it and if you see it again, fix it. Your business will be much stronger for it.
I don’t know about you, but I’m always trying to improve the way I do things and make sure I’m on the ball. So if you are the type of person that needs to make sure you are on the ball then you need to take care of it as soon as you see it, otherwise, it will get you on the wrong track.
In the past two years, I have had two or three people tell me they have had a customer call from me that was taken to the wrong number and ended their business. I have had two other customers tell me they were unable to pay for their order because I was a few days late. I have had a ton of people tell me they are now stuck at a dead end because they put everything in place and forgot to pay me when they left.
We get it-you're a busy professional and you don’t have time to check out every single business you’re associated with.
That being said, even though you’re busy and you don’t have time to check every single business you’re associated with, you’ve got to do your best to be on the right side of the law.
The law is usually pretty clear about what you can and can't do in your business, and if something that's against the laws of the land isn't allowed to happen, it’s a red flag. One of the most common mistakes that business owners make that can get them in trouble is that they don't check their books and balance their accounts regularly for a few months leading up to the end of a contract.
The law is usually pretty clear about what you can and can't do in your business, and if something that's against the laws of the land isn't allowed to happen, it’s a red flag. One of the most common mistakes that business owners make that can get them in trouble is that they don't check their books and balance their accounts regularly for a few months leading up to the end of a contract.
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