5 Common Mistakes Which Entrepreneurs Are Likely to Make on the Eve of Year 2015 As a year comes to its end, entrepreneurs start making new plans to get the most of upcoming lucrative opportunity i.e. ‘A New Year’. But sometimes, poor planning, lack of research and overpromising may prove harmful in various ways. The article describes the detail of blunders, which most of the entrepreneurs are likely to make on the onset of Year 2015. The eve of a New Year is the time of high hype, you hear too much about the upcoming year and there is seen a hustle and bustle of customers in the markets. Be it a traditional shop or an estore, you will notice special deals, offers and discounts everywhere around. Taking the business perspective, you can notice that there are created different kinds of wisps about the products to be launched or services to be announced. Entrepreneurs make big preparations and stay busy, creating new plans in a bid to make the most of golden money spinning time, which is ‘the eve of a New Year’ Having high plans and taking maximum advantage of golden opportunities is the right of every entrepreneur but sometimes the mere dependency on the holiday season results in committing some big blunders, which waste a-year long effort just in a matter of seconds. Here is the detail of some common blunders, which most of the merchants are likely to comment on the eve of year 2015. Offering too Much Discounts As a year draws to close, entrepreneurs start trying different techniques of expanding their sales cycle. One most common and effective technique is offering ‘discounts’ because there is nothing more appealing for clients than to purchase a product on discount. Certainly, by offering concessions, businesses are likely to gain new clients and retain old ones but sometimes inadequate planning collapses your money-making plan on the whole. Offering discounts while going far beyond your business budget can result hazardous for your online business. Therefore, for online businesses, it is better to make more practical holiday sales plan, while keeping all the situations in view. Poor Management of Customer Support Channels Being an online entrepreneur, you come to know a fact that providing a multichannel support would rev up your chances of getting more customers and conversions; therefore, you provide helpline, email address and live chat software button on your e-commerce website. However, despite doing that, you don’t see any considerable increase in your sales volume. This shows that the multichannel support technique did not prove helpful in your case. There are two main reasons for the failure of this plan – the lack of trained CSRs and the poor planning. Huge Spending Just on the Marketing of Your Brand
Not to mention that marketing is necessary to unveil the value of your products or services in the market and it plays a key role in giving familiarity to a product in the market but this is not all you need to spend on. Keep up a balance in your overall expenditures. Ignoring Customers’ Complaints Where there lucrative occasions like Christmas and New Year bring lots of sales earning opportunities; these too come along with some issues such as high compliant rate. Receiving more visitors on your e-store is not the only guarantee that you are going to scale up your revenues until you get them converted into real-time buyers. Sometimes, a customer plans to purchase from a particular e-store just by looking at its appearance but a late response or due to any other issue, he has to quit his shopping cart in anger. During holidays, maintaining speed and quality simultaneously, becomes the biggest challenge for most of the entrepreneurs; therefore, the chances of customers’ complaints go high. Delivering Less than Customers’ Expectations This is a common tradition among the brands that they make big promises on the onset of any special occasion like New Year but when it comes to practical implementation, they fail. By avoiding these blunders, the entrepreneurs can make their New Year’s sales making plans more effective and practical.