Running a Business? Avoid the Practical Pitfalls

There are all sorts of different structural facets to make sure that you run a successful business. Some of them are creative. Others are financial. Yet others are in the realm of the practical. And specifically, when it comes to the practical ones, you need to think outside of your typical business box and consider more real-world applications of common sense.

It’s easy to get caught up thinking in terms of just your product or service, and forgetting that you live in a world with other people who interact with you. Some pitfalls to avoid that are in the practical business category include making sure you don’t do any copyright infringing, ensuring your customers don’t slip and fall, creating a non-toxic workplace for employees, and doing risk analysis on a regular basis.

Copyright Infringement

As much as you might like someone else’s photo, image, or graphic design element, you probably shouldn’t just copy it for your uses on a whim. Dealing with copyright infringement can bankrupt the company quite quickly and create all sort of legal consequences despite your best intentions. If you have to come up with creative output or content for your company, on a practical level, you should figure out how to create it on your own with your employees and using brand-new ideas.

Slipping and Falling Customers

If your business owns a piece of property or exists in a physical location, you need to make sure it’s safe for people to be there! One single person slipping and falling on the ice because of your negligence can cost you your business. Make it a priority that safety for people visiting your site is at the top of your mind. It doesn’t matter how great your company is otherwise if an accident brings you tumbling down.

A Toxic Workplace

You may be in charge of hiring and firing the best people to do the best jobs as the employees of your company. However, if you don’t note how they interact on a practical level, you can quickly end up with a toxic workplace, and it’s your fault for not paying attention. You should know the signs of a toxic workplace and regularly get feedback from your employees to make sure that they are being taken care of so that they will do their best work for you.

Poor Risk Analysis

One practical matter that business owners often end up on the wrong side of is risk. You think that because you own a company and you have big ideas, you can do whatever you want. Technically, that’s probably correct, but if you don’t do a risk assessment before putting money, time, or resources into a random idea, it can impact you and your company negatively before you even know what’s happening.

Colin Shaw

Colin Shaw

Colin has been in the finance market for over 20 years and specialises in best business practice to make an organisation profitable. The only man for the job when it comes to numbers and accounts with a keen talent for simplifying finance for the wider market.
Colin Shaw

Latest posts by Colin Shaw (see all)

Share Button

Written by Colin Shaw

Colin has been in the finance market for over 20 years and specialises in best business practice to make an organisation profitable. The only man for the job when it comes to numbers and accounts with a keen talent for simplifying finance for the wider market.