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Welcome to the Blog of Teresa Duncan, Owner of Odyssey Management. Inc.

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Run A Successful Business

Run A Successful Business

When you plan to become an entrepreneur, you should be ready to face all types of obstacles and challenges such as tough competition to insufficient funding apart, dealing with employees who are not capable enough and finding potential customers.  Mistakes do happen in the journey to be a successful entrepreneur. However, if you are equipped with enough knowledge and gain advice from experts in the field, you could easily plan to avoid or deal with the common mistakes that one commits while running a business.

When you enter the world of business, you need to put a hold onto the trading or other activities you are currently dealing with as one needs to fully focus on the business in it is an initial stage. You have the option to choose for an automated trading platform if you plan to continue trading along with the business.  However, you need to be quite careful to avoid fraudulent software’s. But there are fake news to going around the market about the legit software being scam, read through the following to understand the true nature of the crypto code scam news.

Mistakes to avoid

Failing to create appropriate accountability- You need to create accountability or else people do take you for granted. Let it be suppliers, employees, etc, they should be held accountable for the non-commitment of work.

Ignoring the instincts- In business, you should always trust your instincts. For instance, if you get a feel not to trust your business advisor as he might be giving you a biased opinion, you need to check it out immediately. You should verify the claims. Or else, people do tend to take you for a ride.

Working with wrong people- You need to be extra cautious while picking the people to work for you. If you are able to pick the right one for the job, half of your work is done. A trustworthy and loyal employee is the backbone of any business. The moment you are working with a wrong person, the business is going to hit low.

Start with enough funding- Before you begin the business, you need to ensure that you are able to secure enough funding to run the initial days till the business generates revenue and profit. Without proper fund, all the activities of the business would come to standstill and it would be quite tough to make it start running again.

 

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About The Blog Author

Teresa Duncan received a degree of Master of Science in Healthcare Management from Marymount University. With over 22 years of healthcare experience (15 in dental), she has unique insight into the world of dentistry. Her specialty is helping dentists and managers increase revenue. By focusing on accounts receivable and insurance management, she helps dentists increase the value of their practice. As a member of the Association of Certified Fraud Examiners, she has a special interest in helping dentists identify and safeguard against employee embezzlement.

Teresa is founder and president of Odyssey Management.

She is a Fellow and Educator for the ICOI’s Association of Dental Implant Auxiliaries. Look for more articles from her regarding practice management, dental implants and oral health care news. She was named 2010’s ADIA Educator of the Year.

Teresa is a member-at-large on the board of the Academy of Dental Management Consultants.

Teresa is a Trustee for the auxiliary education-focused DALE Foundation.

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