FBC – 276 – A Costly Mistake That Could Kill Your Business

Today we are going to talk about a very serious offense you should NEVER commit if you want your business to thrive: A Costly Mistake That Could Kill Your Business.

This is something I have seen happening more and more often lately unfortunately.

Tune in to find out more

Want a system as powerful (if not more) than having your own product?

Then click here: https://martinebongue.com/profit-machines

I'm just going to tell you what you shouldn't do. Just to tell you my personal experience with a bunch of companies recently, I don't know if I'm unlucky or people change or something.

Something you shouldn't do is bad, bad, bad customer service, man. I don't know if people don't care or maybe I'm choosing the wrong companies. There is this company creating campaigns.

So I get on their network after checking them out and it sounds really cool. Sounds really promising, actually. And so I go there and I create a campaign. So I put in some money. Obviously, you have to put the money first before you realize how bad customer service is. So I buy 50 bucks or something. Just to be able to test it. And I created a campaign for 20 bucks just to see, you know, how it was going to work.

Right. And I mean, for whatever reason, my campaign is on hold. So I have no idea what on hold means. There is nothing on the Web site. There is no tutorial on how to do it. There is no like FAQ that will say, oh, you know what? On hold means this is what you've done and stuff.

So I was like, I you know what? Let me call let me contact sport. They do have support. I will contact them. That was three days ago. I said three days ago. I got someone who told me, oh, I'll transfer that to the relevant department. And since then, I've been chasing. Nobody's getting back to me.

So first thing is, I mean, the relevant department that you have in your company, if it's you, please, please, please just give the people the direct contact to the damn department. I have no idea what department it is. I don't have their contact. So basically, I have to chase someone who doesn't care or said, dude, I sent it to Bob and Bob would get back to you and then me, I'm chasing Stuart. It doesn't have anything to do with him. And round and round it goes.

A Costly Mistake That Could Kill Your Business

So customer service is it's essential. People don't realize how important customer service is. If people have a bad experience, they’re not going to try anything else with you anymore. Think about it.

You go to the hairdresser and the hairdresser will throw your coat in your face, slap your head and stuff. Are you going back to their hairdresser now? And obviously you're going to tell everybody don't go there.

And before I think people could get away with this thing because, you know, people weren't connected before.  But today, I mean, there are reviews there. People can put stuff on the Internet.

So this this network said they have like one point six billion users or something. So for a company like this, I would expect to be able to contact them. No, no, no, nothing.

If someone is unhappy about a service, they will tell it to, I think seven times more people than if they're happy about a service. How often do you go and you tell your friends, oh, man, you know what? This thing is absolutely awesome. But how often does it happen that you have a good experience and you go and you tell everybody about it? Oh, man. You know what I went to this place was so good.

But if you have a bad experience, you will tell it to everybody, which is damaging for your brand, for your reputation, for your revenue.

So this is something that you guys need to understand is, you know, customer service is it's not the happiest thing to do depending on how you approach it and how you do it. But people are going to call you with their problems. So something has to be prepared for it. But you have to make sure that you're answering people, you know, even if it's to tell them, oh, well, you know what we're investigating, we'll get back to you, or at least answer.

There is nothing worse for a person who has a problem, to feel that they’re not being heard and people are ignoring them, which is the case right now and it’s is driving me insane.

Frequently Asked Questions

What is the single most costly mistake new business owners make?

The most costly mistake is treating revenue as profit and spending it before taxes, fees, refunds, and reinvestment have been carved out. A business that grosses ten thousand dollars often only nets two thousand after every line item is paid. Plan around the net number, not the deposit that hits your account.

How do you avoid the costly mistake of running out of cash?

Keep three months of fixed expenses in a separate account that is not connected to your debit card. Pay yourself a fixed salary on the first and fifteenth, not a percentage of the month. Treat the business account like a stranger and the personal account like a client paying you. The buffer prevents the panic decisions that kill momentum.

Why is ignoring your numbers the mistake that kills more businesses than anything?

Ignoring the numbers turns a recoverable problem into a fatal one because the gap between belief and reality compounds silently. By the time the bank balance forces a look, three months of wrong assumptions have already shipped. A weekly twenty minute review of revenue, expenses, and conversion catches the problem when it still costs a hundred dollars to fix.

What is the warning sign that you are about to make a business killing mistake?

The warning sign is making a decision because you are excited rather than because the data says yes. New tool, new hire, new launch, new market, all of those should pass a single test. Would you still make this choice if your revenue dropped fifty percent next month? If the answer is no, slow down before you sign.

About the Author

Martin Ebongue is the founder of martinebongue.com, an online business and lifestyle design blog focused on helping aspiring entrepreneurs build location-independent businesses. Since 2014, he has been creating and scaling online ventures across multiple niches, from digital products and affiliate marketing to SaaS and content platforms, while traveling the world. He shares the real-world strategies, tools, and systems that work, with a particular focus on AI-powered automation for solopreneurs. Follow him on YouTube, X (Twitter), and Instagram.

Related Reading

• What Tools Can Entrepreneurs Use To Automate Keyword Research?
• What Strategies Can Entrepreneurs Use To Ensure Punctuality In Their Professiona
• How Can Entrepreneurs Assess The Time Management Capabilities Of Potential Hires
• What Are The Best Ways For Entrepreneurs To Manage “deep Work” Sessi