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7 Lethal Business Mistakes to Avoid

Discussion in 'Business Operations' started by Team Gopher, Apr 19, 2004.

  1. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Posts: 4,041

    Entrepreneur magazine has written a great article on the 7 Lethal Business Mistakes to Avoid.

    Here is a quick summation of the article that can be read here.

    Whatever words you may utter if your business collapses (most probably unprintable in this column), the failure can often be traced back to some "famous last words" you once said, if only to yourself. Here are some painful examples:

    - "My customers will be loyal to me."
    - "If I offer people something they need, they'll buy it."
    - "I really don't have to market, because if I do a good job, the word will get around."
    - "My business has no competition."
    - "I don't have partners or employees, so I must do everything myself."
    - "If I make enough and sell enough, and there's money in the checking account, I'm successful."
    - "I can't really afford a lawyer, so I'm going to do my own contracts."

    Have you ever found yourself saying any of these "famous last words?"
  2. LB Landscaping

    LB Landscaping LawnSite Bronze Member
    from Maine
    Posts: 1,309

    Good info TG!!!!
  3. soccerlawn

    soccerlawn LawnSite Senior Member
    Posts: 380

    Those are very true.
  4. specialtylc

    specialtylc LawnSite Bronze Member
    Posts: 1,656

    I say #6 all the time. And I believe it. If I have money I must be making a living. If you are not making any money , then you must be running a CHARITY or NON PROFIT organization.
  5. D Felix

    D Felix LawnSite Bronze Member
    Posts: 1,898

    I think the point of that saying being lethal is that it is possible to have money in the bank and still be in WAY over your head. And it's also possible that you can be making MUCH more, just by changing a few things in the way you conduct business.

    In this industry, you CAN NOT watch just dollars. You HAVE to watch PENNIES, especially with costs going up. The larger you are, the more this should ring true....

  6. Trevors Lawn Care

    Trevors Lawn Care LawnSite Bronze Member
    Posts: 1,180

    Not all of those hold true on this site. To many fools on here believe that the customers are going to pay for their quality. Not all of them may change but I guarentee that most will.

    Just something i noticed

  7. D Felix

    D Felix LawnSite Bronze Member
    Posts: 1,898

    So are you saying that quality should be of no concern? That's what it sounds like.... If you have low-quality services, you probably won't be around too long either.

    I know a lot of companies that survive only because they offer high-quality services. All they do is high-quality work. Hmmmmmm....... Companies that happen to have been around longer than you have.

    I've got a feeling you may soon turn into one of your so-called "fools". You will learn differently as you age though, so there's still hope!

  8. specialtylc

    specialtylc LawnSite Bronze Member
    Posts: 1,656

    Everyone on this site claims to provide better service than the next guy. The point was that you cant charge double the rate of every other contractor in your area (regardless of quality) and expect to get all the business you want.

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