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5 Ways to Kill Your Small Business
Author
Alot Finance Team
- Be as rude to unruly customers as possible.
This is a very important aspect of business: The proprietor is always right. It is your business, not your customers’, and you shouldn’t have to tolerate their opinions. If you anger enough of these types of customers, they’ll leave for good and you won't have to bother with their nonsense anymore.
- Make sure to pay yourself first.
Be cautious with your cash flow, because if everything goes south, you will need enough cash to disappear until the problem goes away. Pay your employees as long as you can afford it, but if you have to choose who to pay, always choose yourself.
- Keep expenses to a minimum.
Expenses can cut into your profits, so keep them to a minimum, right? Wrong, if you're doing it by buying inferior products and supplies. By the time people notice the poor quality, the transaction will already be done, and you can insist that an item was fine when it left your business. Picky customers will eventually grow tired of whining and leave you alone.
- Tell a white lie every now and then.
Losing invoices, denying that shipments arrived, and complaining about damaged goods are all good ways to postpone paying expenses. The less you pay in expenses, the more revenue is available for your own personal use. Only write down about half of the actual revenue, just in case a nosy person wants to look at your ledgers.
- Be cocky when it comes to marketing.
“Word of mouth” advertising is crucial for success, but small businesses may have a problem with getting the word out. You can solve this problem by bragging. It doesn’t have to be accurate, just has to sound good. By the time people figure out that your business isn’t all it’s cracked up to be, you’ll likely already have quite a bit of their money in your pocket.
Last Updated: August 27, 2015
