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If you want your business to be as successful as possible, you need to be aware of all the possible threats just waiting to bring your company down. Most of us know that things like recession and ineffective products or services can bring s business crashing down, but there are other dangers to consider, which aren’t always as obvious. Let’s take a look at them now:
IT disasters
Although companies are starting to get the picture with this one, it’s surprising how many businesses don’t take the potential disaster that could be an IT failure or hack seriously. IT disasters can bring a business down faster than almost anything else, For one thing, if you can’t use your IT system due to a failure, you can’t work and you could lose a lot of business. If your website goes down, ditto. Then, there’s the possibility of your data being hacked, causing as huge breach and letting your clients down, which rarely ends well. IT problems lose time, money and business which is why you need to make your IT infrastructure as secure as possible, even if it does cut further into your budget than you would like.
Bad reviews
These days, sharing your opinion of a company is as simple as clicking a button and writing a few words so it’s not surprising that online reviews are ubiquitous This isn’t a problem if they’re all good, but what if they’re not? Bad reviews really do have the potential to bring your business down.
The good news is, there are a number of things you can do about them. First of all. Address any negative reviews professionally and try to explain your side of the story or apologize as appropriate. If that doesn’t solve the problem and if you’re getting lots of malicious reviews, you can remove Glassdoor reviews, TripAdvisor reviews and many other types of reviews from the internet completely. This is something you should probably only do if those reviews really are unreasonable, otherwise, it may look like a cover-up, but it’s good to know the option is there, and you should be proactive about dealing weight bad press.
Growing too fast
Yes, really. Rapid growth is often seen as a good thing by business owners, and it can be if you can cope with the demand but if you try to scale things too fast too soon, not only could you let down your customers (leading to bad reviews) but you could also overstretch your budget, burnout and end up with an unsustainable business. Before you start to grow, make sure you know what you’re doing and you have a clear strategy to get you where you want to be.
Trying to do it all
In a similar vein, if you’re a business owner who tries to do it all without help, your business could be a disaster waiting to happen. Why? Because you aren’t Superman – no one is, It’s impossible to do everything you need to do to run a successful business without any help, and do it to a high standard, Get help.
Avoid these pitfalls, avoid a business failure.
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