Things that decrease the value of your business

[Jasz]

There are a lot of things that decrease the value of your business. Sometimes it's just a matter of time and opportunity, but other times it's something that you might not even realize is happening until it's too late.

1. Poor communication skills

Communication with your employees is extremely important. If there are problems or concerns, it is important to communicate with them so that they know what is going on in your business. People need to know if they are going to be laid off or if their job is on the line so they can make adjustments accordingly. If you don't have good communication skills, then you may find yourself having issues with your employees or customers and be unable to resolve them in a timely manner.

2. Lack of customer service

Customer service is one of those things that most people take for granted nowadays, but without customer service, there wouldn't be businesses like Starbucks or McDonalds anywhere near as successful as they are today! The reason why these companies have been able to succeed in the long run is because they provide excellent customer service which keeps customers coming back again and again (and buying their products). Without good customer service practices, you will hardly retain customers.

 

[Holicent]

Not being able to predict your sales is the number one thing that decreases the value of your business. It's not that you can't predict sales. You can. But predicting them with any degree of accuracy is difficult, especially in a volatile market like retail.

The other thing that decreases the value of your business is not having visibility into your financials.

A good example of this would be if you had an employee who was stealing from you and didn't want to face the consequences, but did so anyway because they were afraid of getting caught and losing their job. When they were caught, they tried to blame it on someone else.

This isn't a new phenomenon; it's been around since Adam and Eve got kicked out of the Garden for eating from the tree of knowledge (don't ask me how I know). The problem is that most people don't even realize how common it is until they find themselves in a situation where they have to prove wrongdoing or lose their job or both.