Commit these mistakes and your business is sure to fail…

• July 6, 2010
Steven

1. “An increase in volume is the solution”
No matter how much you believe it and hope for it you won’t make it up in volume. Volume schemes may appear attractive at the beginning because it helps absorb fixed costs, but the truth is a low margin is a low margin. Well, no, you won’t. Volume helps absorb fixed costs, but low margin is low margin. The reason volume increases do not compensate is because high marketing budgets continue to increase.In an effort to fix a bad situation, P&G threw in more cost. It reformulated, restaged, and tried to convince consumers that good value meant spending more for better performance. Your business will be saved by lower-volume, high-margin brands; you need to fix more essential cost-structure problems before looking for a quick fix.

2. “Here we go again…
We here at Miami Web Design Pro always say to expect the unexpected. You need to be prepared for all the curve balls your competitors may throw at you and your business. There are many things you can do to try and out-compete your rivals. You may chose to go toe to a toe with an evenly match competitor, but if luck and chance aren’t on your side your business may fail and become second best. You have to pay attention and know when you improve when your competitors have the upper hand, be it a larger budget, a better product, or better connections. Take advantage when you’re in the lead. And when all else fails change the game, it leaves the competitors attempting to reach your level. Raising prices to match your competitors or make customers believe that a higher price tag is needed to achieve luxury, or you can lower your prices to reach other markets and consumers can do this. You can offer the best of both worlds with commodities that your competitors do not offer. You can raise prices on what product while lowering them in another targeting both the segment willing to pay more for higher performance and the segment willing to accept less performance at a lower price. Find allies and friends in distributors, suppliers, etc.

3. “There is no ‘I’ in team but there is a ‘me’”
Cultivate connections and networks, meaningful connections that can serve to your benefit. You never know when you might need a service or product and it is always better to be safe than sorry. Web Design Miami knows how to achieve this, and will work with you to do so.

4A.”Everything is going wrong, and everything will continue to go wrong”
You have to fake it until you make it, even if things are going south you cannot let a bad attitude envelope you and create a negative atmosphere around your business. Remember you are authentic, to balance, and that you are connected. And if you do fail, you cannot let that get to you. Being able to bounce back with excellence is a key factor in a successful business.

4B. “I have no time for anything else”
You cannot let your business run you. An effective business leader also allows down time, whether it is used as planning or just active relaxation. You need to remember that you run the business, it doesn’t run you. Say it with me: balance.

Read the full article…

http://www.marketingprofs.com/articles/print/2010/3752/how-to-ruin-your-brand-your-business-and-your-career-the-13-worst-marketing-mistakes-part-1