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Jul
28

5 Signs That Tell You a Business is Definitely in Trouble

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small business ArticlesTroubled Business Signs

It is always important to act fast when you sense that a business is in trouble. It could be a case of under-performance or a deepening financial crisis. It is crucial to act quickly and decisively once you see the signs that a business is going under in order not to be taken unawares.

Here are 5 signs that tell you a business is in trouble.

1. Unhappy Employees

Most employees have a 6th sense and know when a business is faltering. This can start with salaries being paid in installments or bonuses and allowances being cut altogether. Once employees sense that the future has suddenly become bleak it takes a toll on their productivity and performance. This marks the beginning of the end of a business.

2. Poor Sales

If your sales fall short of the expected target, then you lack the revenue to turn a profit or break even. So you do not have the money to operate running costs and pay salaries. In other words, you are running your business at a loss. And no one can survive that long without a consistent flow of cash and sales. When you struggle to meet your money requirements, you have loads of debtors to deal with everyday. There is no business that can survive in this manner.

3. Competition Closing Shop

It is not always a good thing when your competition starts to pack their bags and close shop. You might think you have one less company to worry about. But it might just be a warning sign that the market that you are in is not as profitable as you think. When the competition begins to cave in, it is important that you investigate the reasons they are bailing.

4. Big Guns are Leaving

Do not rest on you oars and think all is well even if no one has been sacked or told to go on a leave of absence. When top management begins to hand in their resignations to the human resources department, you need to get worried. They are at the top and probably see what you do not see. They are always quick to jump ship before things go full circle, crash and eventually burn.

5. Doing More for Less

You should know that your business is definitely in trouble when you are taking on extra duties and staying longer hours without being given a raise. This usually comes up when people are leaving and are not being replaced. You are given duties that do not match your job description and told to head out to other departments to help people out. When you are doing too much for less, those are the telling signs that a business is going under.

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