When starting out, it is always a good idea to surround yourself with like-minded, successful people as they are the best people to get advice from. They have started a successful business and thriving, so why shouldn’t yours? Like this, there are always going to be people trying to giving you advice, some may be great, and some will give you some rubbish that doesn’t align well with your business or values. It is sometimes hard distinguishing what is good advice and what isn’t so in this article, we will go through just some of the unhelpful advice that doesn’t always work.
Offer the Lowest Prices
One piece of common business advice is to offer the lowest price. Well, this is not the best way to differentiate yourself as a business as this can cause detrimental effect later on. Firstly, it isn’t sustainable, if you are paying a lot for the lease and other bills, and you are charging the least in the industry, well yes it may bring in some small fish, but it won’t cover your expenses. The second reason why this is bad advice is that it can seriously damage your reputation before you even start. It could scare people off. Many customers are not always looking for the cheapest price point, many actually believe in you pay for what you get.
If a business is providing schedules of condition services, you would want an experienced individual who will do the job right. You will find that these are not the cheapest business, but they have excellent reviews. Through this, you will know the job is going to be done in a timely and professional manner without any complications. You want to be the business people want to aspire to use, rather than being cheap and chatty where the quality of the clients may reduce.
Hire People With The Most Experience
Experience and qualification are extremely important in many roles including high up positions and industries. The medical sector and law are industries that are very hard to get into without the relevant qualifications. For example, you would not want your lawyer to be unfamiliar with your business rates appeal as this could cost you money that you don’t have, and could even cause the business to lose its appeal. However, in many cases it is actually best to hire people at the beginning of their career, help them develop and who knows, they may stay loyal and be with you for a long time. People starting their career often have this different type of energy where they spark new ideas and have an outside view of the business coming in which can have endless benefits.
Work Hard and Success Will Come
If people say that working hard will guarantee success down the line, I would not believe them. Yes, hard work is essential to run a successful business, but it doesn’t always have to be the case. You could be working your hardest but if you are working on the wrong things, this will not guarantee your access. I think a better way to put this advice is if you work smart, the results you are after will follow. This doesn’t guarantee success but you will find working smarter rather than harder will help you to achieve the goals that matter and the goals that will help you grow as a business.