Five Things NOT To Do in Business

not-to-doWhen trying to achieve steady and successful growth for your business, there are pitfalls entrepreneurs should avoid.

“Take it from one CEO that’s been there: building your business requires that you market your abilities and invest in yourself,” said Les Kollegian. And according to Kollegian, here are five things NOT to do…

DON’T mistake the importance of your company’s brand.
A lot of business owners underestimate the importance of their brand to the success of their business. This is a terrible mistake. Dissect your brand, exploit your short fallings and uncover ways to improve them.

DON’T grow for the sake of growth.
In other words, don’t focus on being bigger; focus on being better. More wise words from Les Kollegian: “There is no glory in being big and sacrificing quality… It’s important to be patient.”

DON’T forget to market and treat yourself as a client.
Read the top quote from Les again: “…building your business requires that you market your abilities and invest in yourself.” Now read it again. And again. Successful entrepreneurs take a couple of steps back to move many steps forward. Invest in your business!

DON’T ever stop networking.
Build connections whenever possible. Go to networking events and get out of your comfort zone. In any business, it’s who you know that matters, so get to know everyone.

DON’T mistake your instincts.
Trust your gut. Look out for red flags in sketchy business situations and stick with your instincts. You’re more than likely right most of the time.

While learning from your own mistakes is all part of the entrepreneurial process, learning from others can be just as helpful.

Note: “Fresh Ideas” are published each week by Countybank and its family of financial service companies. With financial centers in Greenville and Greenwood, Countybank has a team of highly engaged professionals ready to bring a full scope of financial solutions designed to help families and business owners reach their goals.