The Bad Business Habits You Need To Break In 2024
It’s not the good habits you form but the bad habits you let go of that can make all the difference in how you grow your business this year.
The start of a new year is a good time to start working on forming good habits, but what about the unintentional bad habits you already have? It’s time to try really hard to break the ones that might be holding your business back.
- Selling on credit.
This is not as easy as it may seem, because no matter how many times you have promised yourself not to sell on credit, you somehow end up doing it.
The solution? Consider nudging your customers towards cashless payment options. This can help you to deal with customers who never have cash or don’t like to pay you in full.
softPOS on Kuda Business is a good way to make accepting cashless payments effortless for you.
2. Overspending while trying to expand too quickly.
If you must spend, always do so in proportion to how your business is growing.
Budgeting is the easiest way to keep your spending at eye level and we’ve made this even easier with the Sub Accounts feature on Kuda Business. Create up to five sub accounts to put away money you want to spend on specific things and track how much you’re spending.
3. Putting off paying taxes.
Dealing with taxes can be such a chore, but waiting until your taxes are due before you file them can attract a ₦25,000 fee.
Prioritise sorting out your taxes early. This checklist will make it simpler for you.
4. Asking your customers to DM for prices.
It’s 2024, nobody wants to be sliding into your DMs just to ask for prices.
If you are charging a certain amount for something you know is worth it, don’t be afraid to say it. Better still, use the Invoicing feature on Kuda Business to send an estimate.
5. Using your personal account for business.
It’s a rule of thumb — if you want to be taken seriously, you need to be serious.
Nothing feels more legit to a customer than a business account with a proper business name. That’s just one of the benefits of upgrading your Kuda Account account here.
All in all, habits can be difficult to break. Adding a new habit may be even harder. But what counts is the effort you put in.
