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Small Business Hacks - 5 Myths to Leave Behind in 2018

INSPIRATION • THU 21ST DECEMBER 2017

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There are a seemingly endless amount of ‘hacks’ out there for small business owners, but how many of these shortcuts actually work, and how many are just a waste of valuable time? When creating your game plan for 2018, make sure that you leave behind these 5 myths for small business owners.


Myth #1: You don’t need a marketing plan, the product sells itself

Believing in what you’re selling is crucial of course, but contrary to belief, that’s not always enough. One of the main reasons that so many small businesses fail is due to a lack of planning. Simply put; if you don’t have a marketing plan for the year ahead, it’s highly unlikely that you will succeed. With such a rapidly growing number of competition out there, creating a strong marketing strategy is essential in order to stand out and compete against such competitors.  

Myth #2: Your business needs to be active on all major social networks

Yes, social media is extremely important for all small businesses. However, the truth is that many social media channels are completely unnecessary for some businesses, and actually end up being a huge waste of time and effort. Snapchat, for example, is not beneficial for many businesses. YouTube is certainly not for every business. Rather than trying to be active on all social networks, it would prove much more beneficial to have a more focused approach by carrying out research to find out where your potential customers are hanging out online, and then using that specific social channel to join the conversation.

Myth #3: “If I build it, they will come”

If only it were that simple! Take building a website, for example. Web traffic is based a large number of factors. It can take quite a lengthy amount of time and work in order for your website to really take off. Just because you have created a cool website that you think will work, does not mean that people will immediately flock to use it. Creating something is not enough. Successful business owners must take into consideration ALL the factors that contribute to success.

Myth #4: The customer is always right.

The customer is a vital element to a business, but contrary to what you’ve been told, that doesn’t mean that they are always right. In fact, if they were, a lot of companies would be out of business! Each customer will have different wants and needs. Rather than viewing the customer as always being right, it is more beneficial to instead see things from their point of view, and take their comments into consideration when moving forward.

Myth #5: Success stories are ‘The Lucky Ones’

Another popular belief is that the really successful business owners simply got lucky. While at times, a little bit of good luck might help you along, the reality is, if you want the results, you have to put in the work and the hours. Even the most lucky business owner still had to create a business and put those hours in. The most successful business owners make their own luck.

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