July 19, 2007 | Category: Management, Marketing |

Small businesses fail for a lot of reasons. You can blame lack of business skills, stiff competition, poor customer service, or even failure to effectively execute well-crafted marketing programs. Undeniably, you can think of hundreds of excuses but you often fail to see the common denominator. YOU.

Yes, it is possible that you are the one hurting or killing your business. Of course that is not intentional, just out of ignorance or lack of feedback from your people.

Entrepreneur.com explains why micromanaging, spending in wrong places, relying too much on employees, and chasing all customers will kill your business.

It’s a waste of resources to put all your time, energy and money into chasing after every possible customer. It’s the “ideal customers” you should be trying to reach, says Michael Lovas, founder of About People, a Colbert, Washington, consulting and training firm that specializes in helping companies and entrepreneurs better understand, attract and connect with their clients.

Among these sins, chasing every customer is very fatal. Good thing Work.com provides guide to target marketing and Analytical Engine reminds us about the basic goals of market segmentation.