Everybody makes mistakes. If you run a business, you’re probably going to make mistakes at some point, whether big or small. But while some mistakes can be quickly fixed with little or no harm done, others can cause bigger problems. Errors can lead to your business losing money, which you most likely can’t get back once it’s lost. An error that goes undetected for a long period can be particularly devastating, slowly losing money for your business without you noticing. It’s vital to check various practices, procedures, documents, and data so that you can pick up on potential errors and correct them as soon as you can. This can be done in-house, or by employing specialists, for instance, using a full-service digital marketing company like iTonic Digital for your business marketing needs. Tracking metrics like your NPS will help with areas that work well and others that need improvement. There are multiple errors that you might need to fix for your business.
Errors in Weighing Products
Some businesses need to weigh out products before selling them. This could be anything from weighing products for wholesale orders to directly selling a product to customers, whether it’s a food product or anything else sold by weight. It might not seem like a big deal to go over the required weight by a tiny amount but doing this multiple times means that you lose a lot of your product. You need to ensure you’re using quality industrial scales to measure products accurately. Employees also need to have the right training to make sure they’re weighing everything properly.
Software Errors
Technology can help your business to go further in many ways, but it can also cause problems. Software errors can cause issues, for example. Utilizing regression testing tools can help ensure that new updates or changes don’t introduce new bugs into your systems. A software error can cause a variety of issues for your business, costing both time and money. Customers might be affected by software errors, which can put them off doing business with you. Software errors can delay the work of your employees too. It also takes time and money to fix a software error, slowing down the growth of your business. Deal with software bugs quickly to prevent chaos. A great place to start is by checking for site updates on your online store.
Incorrect Employee Time Tracking
Keeping track of when your employees are working is a necessity if they don’t have regular, salaried hours. You need accurate time-keeping so that you know exactly when people are working and how much you need to pay them. Even an error of a minute or two could end up costing your business a lot of money. You should look at the best time clocks for your business so that you can ensure you’re tracking time accurately. As well as tracking working time, it can help with keeping track of vacation time, sick days, and more.
Errors in Record Keeping
Good record keeping is a must for any business. When you start your small business, you might be unsure about the best practices for record-keeping. You might start off using a simple spreadsheet, which can be adequate for a small business. However, as your business grows, it’s sensible to look into other solutions. Mistakes in your record-keeping can cost your business money, and they’re easy to make if you’re manually entering information into a spreadsheet or even making manual entries into accounting software.
Tax Errors
Tax errors can cost your business in several ways. Firstly, if you make a mistake when filing your taxes, you could end up owing money later. You could owe more than you realize due to your error or you might end up paying a fine for submitting incorrect information. Another tax error that could cause problems for you is if you miss some tax deductions. You will end up paying more tax than you need to if you don’t apply all valid tax deductions.
General Human Error
As the saying goes, to err is human. People are going to make mistakes, even when you put in lots of measures to prevent that from happening. However, there are ways to catch errors so that human error can be reduced. One way to do this is by using automatic, which can remove the need for tasks to be completed manually. Of course, there can be downsides to automation too. If an error is originally inputted manually, it could be automatically replicated in several places without anyone noticing. That’s why it’s important to have the right tools and checks to pick up on errors as soon as possible.
Safety Errors
Keeping everyone safe is vital for your business. As well as ensuring the workplace is fit for purpose it’s vital that employees are properly trained to carry out their work safely. This includes them undergoing the necessary fire safety training, first aid training, and, if applicable training on the safe handling of chemicals in the workplace. This can be done in-house, or by employing specialists. A mistake concerning safety could cause injury or worse to an employee or even a member of the public. Not only would this affect the reputation of your business, but it could also be costly. You could be responsible for the costs incurred by any injury or illness. Other costs could include the expense of fixing the problem and possibly paying a fine or penalty due to the lack of care.
Customer Information Errors
Providing incorrect information to customers can lose business for your company. For example, if your customers don’t have the correct contact information, they can’t get in touch with you when they need to. If you price products incorrectly, this could cause problems too. Ensuring you always provide correct information to customers will help you to avoid alienating them. One of the ways you can do this is by keeping your website up to date. If your site contains outdated information, it can be a waste of time for both you and your customers.
Order Fulfillment Errors
Order fulfillment needs to work quickly to provide customers with their orders, but working fast can produce errors. Sending out the wrong products or missing products can cause issues for you with your customers. However, there are ways to reduce errors in order fulfillment, including using the right technology to organize and pick products. Staff training also helps to prevent errors, and so does giving your employees the time that they need to work properly without making too many mistakes. Double-checking orders is smart too, helping to prevent any errors from getting through.
A small error could be a big cost to your business. Watch out for any of these errors that could be a drain on your business’s finances.
