Instead of the typical description of what you should be doing to make your business successful, the Inc.com article “3 Habits of Highly Unsuccessful Businesses” flips the script and addresses common strategic mistakes that need to be avoided. Contributors Karl Stark and Bill Stark pinpoint “three key inhibitors to any management team’s ability to build a successful business.”

1. They believe that their circumstances are unchangeable and therefore don’t act. Opportunities always exist, even in difficult circumstances. When you’re able to objectively view the facts of a situation, you’ll be able to see options and flexibility. Remember that not all business assets are on the balance sheet. Aspects like customer engagement and loyalty, relationships and location can always be leveraged to increase growth.
2. They do not set milestones for their journey. Milestones are necessary to help you stay on the right track. When you have a plan, you’ll get to where you want to be a lot faster. Try starting by identifying where you want your company to be in five years. Then work backward and outline achievements that need to be met in order to make it happen. Make sure to identify metrics to track your progress and don’t forget to celebrate your achievements!
3. They do not reevaluate along the way. Unfortunately, as we all know, not everything always goes as plans. Due to unforeseen circumstances, reevaluation is often necessary. Remember, unsuccessful businesses aren’t always on the brink of decline or failure. You could be doing pretty well, but may still be missing huge market potential. “By continuously addressing circumstances as changeable, creating milestones, and performing comprehensive evaluation your team will reach more of its potential,” Stark and Stewart write.

Click here to read the entire article from Inc.com.