The Worst Advice Given To Small Business Owners

Fiona Chandler, Director of Small Business Payroll, reveals the business advice that start-up entrepreneurs should ignore.

If You Want Something Done Right, You Have to Do It Yourself

“It can be especially hard for small business owners to relinquish trust when it comes to their business,” says Fiona. “However, there are experts and potential hires out there who can do certain tasks better and faster than you could yourself. You don’t have to do everything on your own.”

Fiona adds: “Expanding your team can inject energy and new ideas into your business and take you in exciting new directions. Small Business Payroll can help you manage your obligations as an employer, including running your payroll, so you can concentrate on reaching new heights with your team.”

The Customer Is Always Right

“Without customers, you don’t have a business,” says Fiona, “But the old motto that the customer is always right should be adapted for the era of 24/7 online reviews. Certainly, you should always give the customer a platform to be heard and graciously accept feedback, but don’t let one bad review or online comment veer you off course. It’s also important that your staff feel that they have your back if they are the target of a complaint. At Small Business Payroll, we encourage business owners to treat their employees as their most valuable asset.”

Spread Your Bets

“Business owners are often told they should be doing many different things,” says Fiona. “But diversifying is a high-stakes game. Dedicate your time and resources to work that focusses on your competitive strengths. You should only consider entering a new market if those competitive strengths will translate. That’s not to say you always need to find a brand new niche, but you need something that will set you apart if you are entering an established market.”

Don’t give up

“Most successful entrepreneurs possess a certain level of tenacity,” says Fiona, “But a common trap is to cling to a sinking ship in the name of passion. Recognise when something is not working, learn from it, pivot and move on.”

A positive mindset can change everything

“While investing in some quality training can help you grow your business, many modern online business coaches are focussed more on mindsets and emotions,” says Fiona. “In my experience, most small business owners are already motivated to succeed, but may just need a bit of guidance implementing best practice systems and processes. Only spend money on coaching if you have the budget, and do your research to ensure you are hiring someone with the power to transform your business; not a quasi-psychologist.“

Fiona Chandler is the Co-Founder of Small Business Payroll, offering a specialist payroll service for small businesses. Find out how she can save your business time and money today.