What Are Some Common Business Management Mistakes People Make?

[Good-Guy]

Business management refers to handling the business in a proper manner. It refers to running the system of the business in a proper way and handle the employees and other matters of the business so that the business could run really smoothly and efficiently. Unfortunately ,there are many kinds of business management mistakes many people make. I think that one of the biggest business management people make is that they enter into any kind of big business without gaining the right kind of expertise and experience. Many people do not have experience and they make many mistakes handling the business.

This is why I believe that internships are very important, as it offers people to learn many things about the business. When an internee learns things, he gains experience and when he gains experience, he will make fewer mistakes when he starts his own business. Secondly, I have also noticed that many people do not have the ability ot manage employees. many employers are just stop strict or too lenient when it comes to dealing with employees. Employees are very important aspect of business management and managing them requires a person to be talented enough. What are some of the other management mistakes people usually make?

 

[Jasz]

You are right! The most effective way to manage business employees is to treat them like the adults they are.
Employees don't need or want to be micromanaged. They want to be trusted and respected, and to work on projects that make them feel proud of what they're doing for the company. We've found that when we give our employees a project, the best thing we can do is let them run with it.
This is because you have hired competent people who know how to do their jobs well. If we don't trust them enough to let them use their own judgement and make their own decisions, then we shouldn't have hired them in the first place.
If a team member isn't performing as expected, it's time for a conversation. Don't wait until the next performance review; if you see an immediate need for improvement, discuss it now. Employees want feedback and they want it often—if they aren't getting any feedback, they might think they're doing a great job when actually they're not!

Be honest with your team members about what's working and what isn't working in the way that you manage them. Be open to taking criticism from your employees about how you handle management tasks; you'll grow stronger together as a team.

 

[Shaf]

When running a business, management of resources can be a major make-it or break-it factor. I've seen this especially when one has to manage human resources.

I always say, if one can manage human resources in a business or job successfully, managing all other physical resources would be easy. That's because the humans are well, human. Different personalities with selfish interests and prone to volatility. Getting them to work together to achieve a common goal can be hard but very rewarding when done.

Another important resource one should manage is raw material. This can drastically reduce expenses incurred and can also go a long way to ensure improved quality of the final products.

 

[Bookwormlux]

The major reasons why a lot of people find it hard to manage employees working for them in their business or an organisation is due to the fact that, they have not been able to educate themselves on how best to go about something as hectic as this, and this is a major reason why they just lose an opportunity to have a team that will work in harmony to ensure the growth and success of their business or organisation as the case may be .

There are a lot of courses out there where business owners and managers can attend and educate themselves on how best to handle people, and make sure that they are working as a team and not seeing each other as competitors at all .

When you refuse to go about learning things as basic as this one , it will be very difficult for you to be able to sustain yourself and grow the business effectively .

Ineffective management of a business is usually at the detriment of the organization's success, and that is why we have to try as much as possible to make sure that everything is done properly in our organisation to ensure maximum productivity .

 

[Chibson]

There several reasons why businesses fail, if one of these reasons is not prevented then the business may actually fail.

Anyone who wants to venture into any business must try as much as possible to get the right knowledge and mindset because without that there is no way you can be able to succeed in any business venture.

A lot of people invest several amount of money in businesses without first of all having experience of how to run a business and on the long run they will find out that they are failing. One of the major reasons why people fail in business is lack of experience.

Anyone who ventures into any business without having proper knowledge and experience of such a business may actually not succeed. You can have experience by attending seminars and having business mentors. A lot of business people neglect this and they end up failing in businesses.


Another major reason why businesses fail is lack of proper financial capacity. If you want to venture into any business and you do not have the financial capability, you stand a chance of failing in such a business.

Another main reason why businesses fail is because of lack of discipline and commitment by the business owner.

 

[Rachael]

There is no business that is without its down side no matter the level of funding or experience that is experienced. In business, there are common mistakes that is being encountered by business owner although, in most cases, these mistakes can be avoided if handled amicably. One of the common mistakes in business management is; lack of feasible ideas and effective planning system. When a business idea is not carefully thought out before it reaches the implementation stage, it becomes a threat to the success of the business.

Planning of a business has to be done effectively for any business to stand tall in this world of competition. In any business the bedrock of success lies on effective planning, when once the business plan is faulty, it poses a serious threat to its success. Another negative factor is mismanagement of funds, this is very crucial as no amount of money might ever be enough to fund a business, which is the reason, we need to discipline the way we spend and manage the resources. Finally, lack of creative ideas and innovation has made businesses to remain static or cripple, when once a business owner has no level of thinking creatively, there are higher chances the business would not sail.

 

[TOZZIBLINKZ]

One of the common management mistakes that business managers and players make is expecting perfection from their employees , workers , of staffs . Majority of Managers and business owners today fail to see no one is perfect including their employees and their over work their employees giving them burdensome , cumbersome , and unbearable business tasks and duties to perform in order to reach assigned and planned business goals and objective . And when these employees and workers make mistakes and errors in the course or process of carrying out these burdensome and cumbersome assigned tasks and duties the employers become angry and forced embrace their employees and workers beyond measures .

Another common management mistakes that business managers and business owners fail to do is to involve their employees in the making of business decisions and choices concerning their business dealings and doings , this is because they feel over confident in themselves as being able to make the business decisions and choices all by themselves . Sometimes being overconfidence in business blinds our eyes from seeing our business decisions and choices as failures , which could somehow become failures themselves . it is advisable to consider your employees as part of the business organisation and their ideas and decisions counts as well .

 

[eldavis]

One major mistake most business owners make when it comes to management, is not hiring the right hand for the job. Most business owners tend to always want to do everything themselves or their way. Even when they finally get someone to do the job themselves, they tend to control everything without letting others share their thoughts and ideas about what they think.

 

[Sotherefore]

There are so many of them , but we are to point out some of the most important one that most people are likely to make when they are trying to manage a business.

* One is that a lot of people who are starting a business newly are always fun of spending the business's capital and profit unnecessarily especially on things that are not important, this will not really help in the progress of the business in any way, but will definitely brings more trouble in the future into the business because there may be a times in the future that challenges may comes and if there is no money to handle this challenges , it could definitely leads to business failure.

Another thing a lot of people are likely to do that could result in bad business is that , they do not consider management of the business as an important factors.

So many people believe that as long as their business is succeeding and they are generating profits, that management is not needed in the business. Well that may not really be the best because management of business involves all accounts keeping and recording of everything that is happening in your business and this will really help you to know when there is cheating and so on.