Avoid the Seven Deadly Business Sins

There are many reasons why a small business might fail, but by knowing what the most common reasons are, you’ll be able to develop the skills and knowledge you need to avoid falling into those traps. We have identified what these seven deadly sins are and have developed eCourses to help you steer clear of the most common pitfalls:

	1) Lack of planning and preparation before starting up – know how to give your big idea the best chance of success We can guide you through the entire start up process, from drawing up a business plan to selling and marketing your product. Our Make or Break - Starting your Business eCourse follows five real life businesses as they start up and will help you gain essential skills, from financing your new business to dealing with business law and regulation. Visit our course catalogue section to read more about the Make or Break – Starting your Business eCourse.
	2) Cash flow problems – know where every penny goes Strict control and monitoring of your cash is vital. Our course, Staying Afloat - A Guide to Cash Flow, is packed with practical advice, helpful tips and useful tools to help you plan the cash flow within your own business. Visit our course catalogue section to read more about the Staying Afloat – A Guide to Cash Flow eCourse.
	3) Poor marketing – know who your customers are and how to promote effectively Our Marketing eCourse provides an introduction to marketing theory and practice and explains how you can win and retain loyal customers. It’s essential that you know who your customers are, in order for your marketing to be effective. Visit our course catalogue section to read more about the Marketing eCourse.
	4) Poor negotiation skills - know how to get what you want We’ve created a course, Negotiating to Win, based on The Apprentice TV series. This course will take you through the five key stages of negotiation and will give you the skills and confidence you need to make better business deals and save money. Visit our course catalogue section to read more about The Apprentice: Negotiating to Win eCourse.
	5) Failure to attract new business – know how to present your business effectively Are you a natural when it comes to sales and presenting? Or could you do with a helping hand? Another course based on The Apprentice TV series, Selling, Pitching and Presenting, will help you improve the skills you need to sell your company's products and services, and teach you the importance of preparation and being well informed. Visit our course catalogue section to read more about the The Apprentice: Selling, Pitching & Presenting eCourse.
	6) Complacency as your business grows – know where your business is going and how well it’s doing Once you have launched your company successfully, it would be nice to sit back and relax, but it's important to be proactive and stay ahead of the competition. Be prepared to keep your plan under constant review and make sure you keep on top of all your bookkeeping. Our Make or Break - Growing your Business eCourse, following five real life businesses, is designed to give you a fresh perspective on growing your business and what you'll need to consider before you begin a programme of expansion. Visit our course catalogue section to read more about the Make or Break – Growing your Business eCourse.
	7) Poor IT skills - make the most of your time - make the most of your software The Office application suite can give you a real productivity boost and help you make the most of your time. Write your letters with professional-looking templates in MS Word. Keep track of your cash flow in MS Excel. Manage your customer and client information with an MS Access database. Use MS PowerPoint to deliver clear and sharp-looking presentations. You've got the software, make sure you've got the skills. View our course catalogue for the full list of Computer & Software eCourses.

Start-Up business eCourses

Related Resources

	If you’d like to call on the services of a business adviser to guide you through your start up, the Small Business site offers access to a database where you can find an advisor in your area.
	Barclays have a great track record in supporting business start ups and they have used their experience and expertise to develop an online start up guide.
	The Business Link site contains a host of excellent information on all aspects of starting up.

Avoid the Seven Deadly Business Sins

1) Lack of planning and preparation before starting up – know how to give your big idea the best chance of success

2) Cash flow problems – know where every penny goes

3) Poor marketing – know who your customers are and how to promote effectively

4) Poor negotiation skills - know how to get what you want

5) Failure to attract new business – know how to present your business effectively

6) Complacency as your business grows – know where your business is going and how well it’s doing

7) Poor IT skills - make the most of your time - make the most of your software