According to figures from the Australian Bureau of Statistics, around 60% of all businesses fail and stop trading within the first 3 years, so it goes without saying that success is tough. However, when you have a little knowledge to fall back on (gained from studying an online business course), it gets much easier to avoid the mistakes that so many make.
Take just a few short courses online, and you can see problems even before they arise, so knowledge development is what will stop you from becoming just another statistic. That’s what we focus on in the next part of our blog, as we show you 5 mistakes that many make so you can avoid making them yourself. So, if you have your notepad ready, we’ll begin.
Mistake One: Running Out of Money
As most good business management courses will tell you, it’s not always necessary to spend big on equipment, software and inventory. Running out of money is a particularly common reason for businesses to fail; however, if you pay enough attention to budgeting, you won’t end up over-reaching in your quest for business success.
Mistake Two: Failing to Identify Your Ideal Customer
Advertising is a key part of modern business, but it requires that you first sit down and pay some thought to what your perfect customer looks like. This is a fundamental step that most online business courses will cover, as, without it, you won’t know how to tailor your marketing for the best results.
Mistake Three: Undervaluing What You Offer
Confidence in the value of what you offer is often a key factor in whether your business survives. Some people simply don’t believe they can charge what they’re worth, and all that does is squeeze your margins tightly. Look at the average cost for equivalent services like yours, and you’ll have a better idea of where your prices should be.
Mistake Four: Failing to Leverage New Technology
Something else that any good business course will show you is that new technologies that appear in your industry are most often designed to make life easier. While new ways of working can look daunting at the outset, failing to leverage their competitive advantage will put you at an immediate disadvantage - as you can bet your life your competitors will be enjoying their benefits.
Mistake Five: Not Looking After Yourself
It can be really easy to overwork when you’re running your own business, especially as it’s pretty much all on your shoulders. However, you’re going to be no good to anyone if you end up feeling completely burnt out. Sure, you’ll still have to work most days to achieve your goals, but you need to recharge - as you’re your company’s most important asset.
Gain the Advantage You Need With Flexible Online Business Courses
Achieving business success is a complex process, with these five tips representing a drop in the ocean in terms of what you need to know. Thankfully, online business courses like our Advanced Sales & Customer Service Skills course can offer you the skills and insight you need to tip the balance in your favour. Able to be taken at your own pace, they put control of your destiny firmly in your own hands.
To find out more about the popular video-based training we provide at OCA, you simply need to visit us at www.onlinecoursesaustralia.edu.au, where you’ll discover that every one of our courses is CPD-approved, complemented by one on one tutor support and live chat 7 days a week. We’ve even made paying for your training easier with a range of flexible payment options.
Alternatively, to talk to us directly about anything we’ve discussed here, give us a call on 1300 611 404 and we’ll be delighted to help you find your ideal course for you to study online.