Small businesses play an essential part in powering our economy, but only if they can achieve success. But a few common mistakes can torpedo a small business and keep it from succeeding.

Here are a few examples of common mistakes:

• Keeping Shoddy Records: Entrepreneurs/idea people are not always great administrators
• Resisting Change: Be immersed in your industry but do not get so close that you ignore trends
• Unwise Spending: Do not buy a new car – reinvest in your business!
• Ineffective Marketing: Don’t assume your idea is SO great that you do not need self-promotion

Bolt Insurance created this infographic to identify how small business owners can spot and overcome these and other common mistakes:

Via: BOLT Insurance

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Tags: Best Practices, Bolt Insurance, common mistakes, infographic, small business