Avoid These 3 Money-Wasting Mistakes

What’s in a mistake? If you’re a business, it means money. Data shows that 38% of businesses fail due to exhausting their cash or the inability to secure capital.

That means one mistake could be the difference between sink or swim.

One of the biggest mistakes I’ve made in the past few years was moving my call center fully overseas.

I learned a lot from that blunder—mainly that it was a skill development issue.

Here are the top three things you can do to avoid further mistakes in your business to stop wasting money.

Keep that runway going.

Let’s do it.

1. Customers over Cost-Saving

Is harming the customer experience and hurting your reputation worth saving a couple hundred grand?

That’s what happened before we had the structure and training of our call center fully in place. The switch to a full-time, overseas call center created a disconnect.

Communications between departments suffered, things fell between the cracks, and the savings over having a trained, in-house call center ended up as a wash.

As with most things, the answer was training and not trying to scrape as much savings as possible. It took years to undo that harm while also correctly utilizing overseas talent.

The point? That saved money ended up costing as far more in return—potentially millions.

Today, the structure is in place, our CSRs are learning from each call with Avoca and it’s all so much smoother.

Lesson learned.

2. Keep Who You Recruit

Employees come and go. It’s the nature of the business. The difference comes when you can create team culture, get people to buy in, and make them want to stay.

That can come in different ways. Are you reinforcing a culture of growth? Are you compensating in a way that makes employees proud of working for you?

The big one: Are you training and uplifting careers?

These are all part of a whole. My philosophy is that I can increase revenue with the right hires. On the opposite end, not retaining those employees means a money loss.

If you develop them, they will stay. Keep those rock stars.

3. Get Some Sellers

The biggest growth move in the past 12 months, besides our new building, has been revving up the sales team machine.

For a lot of businesses, the slow seasons turn into a period where you start pressing the LSA button and hoping leads turn up.

Not to brag, but thanks to Service Scalers we never have this problem anymore. It’s a good feeling.

But we’ve become proactive about sales now, all year long. This includes canvassing, events, and a new Director of Sales who is helping to move the needle daily.

Sometimes I think about when we didn’t have a sales team doing that.

That’s a lot of lost revenue.

But more than just having the right people, they have the right processes. This is where the right SOP can help drive revenue and provide guidance from the top, down.

And that sales team is only going to keep growing.

Every day they’re hustling, finding new leads, and getting the company name out there.