Many people around the world start their business so that they can become the boss. Most of the times lack of experience in this field turn their ambitions, and they become slave instead of boss. Most of the small businessmen do not have the clue about the mistake that they can make while running their business. Some of those mistakes listed below, so that can avoid such situation.

Setting of Goals 

Many people start their business without setting clear goals, which in turns becomes a significant problem. Before starting business, one must have a clear understanding of the direction, where you want to take your business. Your vision in business should be clear, and target should be attainable so that can provide direction to business easily. With the help of few attainable ideas, one can reach that goal.

Lack or Poor Advertising

Advertising plays a crucial role in private sale. One must identify the target market and should make marketing efforts directly to address them and your marketing message fulfils the needs of the customer, not yours. One should identify the problem of their clients, so that can solve them.

Using Money for Bad Market

Most of the businessmen waste their money for worthless marketing. If marketing did not provide you success first time, then there is no need of repeating the same thing. If it does not work, it will not work in the future until you make some changes and fix the problem before using the same thing again. One must track the expenses incurred towards advertisement and should check whether these efforts are effective or not.

Hiring the wrong person for business

Anyone can fall in the trap of hiring wrong person for selling business. If you take a look towards their ability and experience before hiring them, then you can reduce the risk of loss in business. There are many online websites that provide assistance finding the right employees. Businessmen should take advantage of these resources. It will save a lot of time and money.

Wasting your time in search of new customer

Every businessman likes to get more new customer. Being a new businessman, one should focus concentration towards existing customers. Bringing new customers are extremely tiring and wastage of time and money. Instead of searching for new customer, if you try to retain your old customer, it will be an excellent investment.

Pricing

Pricing a business for sale opportunity is something that needs to take careful consideration. In the starting of business, one should not price as high as it is away from people approach or as low as you get loss in business.

By considering all above mentioned common mistakes, one can decrease the chances of loss in business.

Article Posted By : savi  On June 07, 2011lView All Articles

My husband is MBA in human resource management and this article written according to his guidelines. He did a lot of research on business topic and gave me idea to write on this topic which help new businessmen to start business with profit.

Article Source :

http://www.veethi.com/articles/most-common-mistake-when-selling-business-privately-article-55.htm

Keywords :
business , selling business