Here Are the 4 Worst Decisions You Can Make In Your Business

At some point, every business owner will find herself in a troubling situation. Revenue is down. New clients are scarce. Profits are falling, and a peek at your financials is enough to bring on a full-fledged anxiety attack.

It can be stressful to make important business decisions. We all want to make the right decision so our business thrives. Unless you’re Bill Gates, chances are you’ve experienced that sinking feeling of a business that’s trending downward and you’re not sure what to do.

It’s how you handle it can mean the difference between continued success and business-killing burnout.

Here’s where a lot of business owners get it wrong. They start to worry about money, and that worry leads to poor decisions that ultimately have a negative impact not just on finances, but — maybe more importantly — on morale, too.

Here are 4 bad business decisions to avoid, even when you’re feeling low:

You Take On The Wrong Client

When business is down, it can be tough to keep your ideal client avatar in mind. Instead, you jump at the chance to work with anyone who comes along.

The trouble with this scenario is you can find yourself with a roster full of clients who:

  • Aren’t willing or able to do the work required
  • Spend all their time telling you why your ideas and advice won’t work
  • Drain your energy and make you dread your office

And while this might help bring in a bit of cash short-term, it won’t do anything for your reputation or your self-esteem.

Trust me, it’s not worth the headache. You’ll end up spending more resources than you take in.

You Stop Creating

And who can blame you?

With profits down, you have to pull back. You can’t afford to spend time and money creating new programs, so you recycle the ones you’ve already produced. Your fearful self is saying, “Just try the e-book again; I don’t have the budget to re-do the content into a course.”

But what you should really do is ask yourself, why did this fail before? Do I need to re-work this program?

For example, maybe your e-book was too big and in-depth to turn into a profit. However, the content would be perfect for an online course. Take a step back and evaluate if spending a little time to improve upon something you’ve created before might be the right step. If the answer is yes, give yourself the time to do it.

You Do Things You’re Not Good At

It’s tempting to try and do everything in your business. You’re good at what you do, right?

Well…right, but ARE you good at everything that a business needs to run? Think about something like payroll, or your taxes. Is this something you could hand off? It may be tempting to take it on to save money, but don’t forget, time is money too. Your time may be worth more spent somewhere else.

You Blame Others

It’s your name on the door. When things are going great, you get all the praise. However, all of the headaches belong to you too. Every issue, challenge, mistake — ultimately is your responsibility as the business owner.

You sold your product or service to the clients, you set the priorities, and you made the promises. What must be fixed is on you.

When You’re in Business, You’re In It For the Long Haul

Just remember that when you’re in business, you’re in it for the good times and the bad. When things get tough try to keep a good perspective. Ask yourself why did you start your business? Are you making a difference?

No matter what you ask yourself, just take a minute to pause and reflect on why you decided to do what you’re doing in the first place. It’s worth it!

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Content Marketing, Social Media, Editor of Marketing & Growth Hacking ~~ Love God, Family, Friends and my Pups!! http://annedivitto.com

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Anne DiVitto

Anne DiVitto

Content Marketing, Social Media, Editor of Marketing & Growth Hacking ~~ Love God, Family, Friends and my Pups!! http://annedivitto.com

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