As a blogger and small business owner, I have the wonderful opportunity to work from home. I can set my own hours and take vacation when I want. But I also have to work hard to get everything done on my to do list to make sure I complete the tasks assigned to me by the companies that contract me.
It’s not uncommon for business owners to stay so focused on critical goals and core operations that they sometimes overlook the simplest of details. And for many of these business owners, they have learned from experience just how important some of these simple details actually are. Let’s explore three small but costly business mistakes you need to be aware of and how to avoid them.
Failing to Make Your Website Responsive
You’ve invested thousands of dollars into your website. From a professional-looking theme to quality content from some of today’s top writers, your website is visually appealing and engaging to site visitors. What about its mobile responsiveness? Just because it looks good on a desktop computer doesn’t mean it’s simple to navigate on a smartphone or tablet.
Research reveals a mind-boggling 84 percent of consumers between the ages of 18 to 29 use a mobile device to make purchasing decisions. Whether going online to research a product or looking for contact information about your company, these consumers need a website responsive to mobile devices, or you’ll be missing out on valuable sales opportunities. Top tips for making sure your site is responsive include:
- Allow content for touchscreens
- Condense menus and navigation bars
- Adopt a fluid grid
- Use a pre-designed layout
Failure to Classify Your Employees Properly
Unless you’re a solo entrepreneur, you need to do all you can to ensure all employees are classified correctly. Some workers may be exempt while others aren’t. Some may be considered part-time while others are hired on a contract basis. There are rules governing how you are supposed to classify your employees. If you don’t understand these rules, a simple misclassification can cost you thousands, even millions, of dollars.
The top tip for making sure all of your employees are classified appropriately is to outsource your payroll to a company that specializes in payroll operations. If you want to do your payroll internally, you’ll need to hire a professional who has a deep understanding of the latest payroll rules and guidelines. Another tip you can employ is to use voucher checks for business payments. These checks provide advanced protection against fraudulent payroll activities.
Overpaying for Credit Card Purchases
Research shows if you don’t accept credit cards as a form of payment, this is another way to miss valuable sales opportunities. Many business owners, however, fail to carefully consider their credit card processing options. Some merchants charge 2.9 percent as well as a $.30 flat-rate fee per transaction. This adds up quickly. By shopping around, you can easily find merchants that charge much less. In fact, FreshBooks is a company that specializes in credit card processing and charges only $.50 per credit card purchase as long as the transaction is processed via the internet.
You’re going to make mistakes as a business owner, and some of them are going to be quite costly. As you become aware of common mistakes, though, you can get better at avoiding them and maximizing your profits.