Introduction: Most people get into business for similar reasons. It is most often the acquisition of wealth, the pursuit of a passion, the freedom to be their own boss, or the desire to do something worthwhile for the world. And more than likely, the average entrepreneur is driven by more than one of these. And they strive to have a growing business that reaches more people and makes a bigger impact.
One thing no one does is get into carpentry to fail, but many new businesses, as well as long-established, well-known brands, fall flat from time to time because they did not follow certain fundamental guidelines. The companies that succeed for years, decades, or even centuries, adhere to a specific model, rarely deviating, unless it is to evolve with the changing landscape of customers and practices within their niche.
However, some mistakes are common, but largely avoidable. But there is a lack of guidance in some arenas, especially when it is a specialized craft like carpentry, where work is plentiful, but the competition can be fierce. There emerges a vacuum in comradery, with other carpentry outfits keeping their best secrets to themselves. And it is not to be mean or petty. While it can toe the line of ethics, in the end, it’s just good business. Although when your venture is going under, it can feel very personal.
You must subscribe to the idea that you are part of a community, but at the same time, might have to fend for yourself. You must do the research. Knowing the fastest growing business sectors in the carpentry game, the fastest growing business ideas to expand to a larger market, and the fastest growing business opportunities within your specialty.
What is a common mistake that small-business owners make when their businesses begin growing?
Education evolves knowledge, and in entrepreneurship, as in all walks of life, knowledge is power. Resources for growing a small business, or even a multinational corporation, are plentiful in books, as well as on the internet. Social media is lousy with gurus and master classes for taking your growing venture to the next level.
They can give you sage advice on the fastest growing industries to start a business, as well as constantly growing business fields. How to update your marketing campaign, how to influence a larger crop of potential customers, and how to get word of mouth to spread like wildfire. And most of this advice is not only worth its weight in gold but is also at a very reasonable price. And discounts pop up every day. After all, it is their job to show you how best to run yours, and they want to grow, too.
Some common mistakes businesses make and how to avoid them
- Stake your claim
It is of paramount importance to have a location, and claim a business listing. And do it online. Everyone searches for products and services using search engines. And the more specific, and the more your listing focuses on specific keywords that propel the search engine algorithms to put yours near the top of the list, the easier it will be for people to find you, and click your link.
- Your online presence
Get a growing online following, even if it is a passive one. Review sites and word of mouth, that is done without your direct intervention, is a passive following. And everyone reads online reviews. You would not buy a tool without knowing what people who already have one have experienced. Take the best impact driver for instance. Knowing if it is worth the investment is just plain efficient.
Growing your business with social media is establishing an active following, and the best way to keep customers and even the looky-loos up to date on what you are doing, and what sets you apart from the competition. Facebook, Twitter and Instagram may seem trivial, but they are being used to their fullest potential by the more successful businesses, because they reach a wide and diverse audience, and they can be shared with hundreds of thousands of people instantly.
- Be available
It is not a shock that the best way to get return customers is with a quality product, and a friendly attitude. No one wants to deal with a grouch that hates their job. And no one wants to be put on hold by a computer. Having a living, breathing person to interact with is the easiest way for a customer to know that they have connected with you personally, even if the actual person they speak with is low on the proverbial totem pole. The low man tells his boss, who tells his boss, who in turn tells you, and things get done. An automated system may save you a buck or two on the bottom line, but they will never replace the comfort of true human relations in a customer-friendly setting.
- Get involved
In business, as in life, a support system is especially important. A group that has the inside track on the up and coming information in your field is an invaluable resource. Join a group that has your same passion, and always has the best interest of the industry in their sights. They will have your back, void of any ulterior motive, save the occasional fundraiser. They might have annual dues or specific guidelines that can sometimes be strict, but in the end, the payoff is worth it.
- Invest in the future
You can put your own money in, but do it in a smart, pragmatic way. Do not go to big, to fast, without compensating with the right additions to your workplace, like additional staff. And if you do get more hires, get better ones than you started with. Smarter, more driven, and more seasoned. They will usher in the new expansion to your future endeavors in the most efficient way with a reputable knowledge that can only profit you.
If you would rather put in other people’s money, get yourself some investors. There are always people looking to get in on a good company, watching their money growing with your success. But, again, be smart, not greedy. Know who you are getting into bed with. They might just be a snake in the grass.
- Keep a weather eye
Always have an up-to-date knowledge of every penny of your profits and losses. The best way to lose an enterprise is allowing the dollars and cents to slip through the cracks. Hire someone you absolutely trust and invest in the most efficient and easy to use accounting software. This is especially important if your growing venture is expanding at a rapid rate. The money comes in faster, gets spent faster, and something gets lost between one point and another, and before you know it, you are filing bankruptcy. Grow at a rate you can handle, and at a rate you can keep track of inventory, staff, and of course, money.
A growing carpentry venture can be a tremendously lucrative enterprise, and can explode into such a large undertaking so fast, it can be difficult to remain vigilant to maintaining the fundamentals that, while they may slow things down, will never hurt you. They have stood the test of time with countless businesses since antiquity.
Look at all the biggest businesses and ask yourself what they have in common. Sure, some operate without an ethical bone in their body, and some mistreat their employees while only thinking of the bottom line, and of course, that is a terrible way to do things. But the ones that we marvel at because they run their show the right way, the ones with a fantastically small turnover rate, and still make an impressive profit, all have that one thing in common. They followed the advice of their predecessors and stuck to the fundamentals.
Conclusion: Maybe you are thinking of a plan for a new endeavor that will not fail, or maybe your planning a huge expansion. The same rules still apply. Do the homework, advertise, be available, make a quality product or have a great service people will want to share with their friends, and do it all while keeping your finger on the pulse of your growing enterprise. Your success is in your hands. Recessions come, and sometimes bad things can happen, but that is out of your control. What is in control is how you do what you do, and how well you do it. So, barring bad luck, rise or fall, it is up to you. Have you begun or expanded a business and have a technique that helped you thrive?
Ronald Pratt is a mechanic specialist who also enjoys working in the garden to make the perfect landscape. He can repair everything that’s related to a house and garden. Everything in his house is made by his hands. his free time he prefers surfing the Internet, reading and sharing his knowledge creating content