There are currently $1 trillion small business loans that are outstanding. Small businesses play an essential part in powering our economy, but only if they can achieve success. Here are a few examples of common mistakes:
- Keeping Shoddy Records: Entrepreneurs/idea people are not always great administrators
- Resisting Change: Be immersed in your industry but do not get so close that you ignore trends
- Unwise Spending: Do not buy a new car – reinvest in your business!
- Ineffective Marketing: Don’t assume your idea is SO great that you do not need self-promotion
This infographic is courtesy of BOLT Insurance that visually highlights how small business owners can identify and overcome these common mistakes.
Via: BOLT Insurance