- It takes a lot of work to build your own business. You have figure out financing, determine what you are selling, write a plan, and so much more.
After all of the work has been done to finally open for business there are no guarantees of success. The fact is that many businesses fail within the first few years.
If you look for them, there are usually clear signs your business isn’t working.
1. Profits are Low
When sales aren’t happening or profits start dropping it’s one of the fairly obvious signs your business isn’t working. You may love your business and what you do each day. Unfortunately it’s unlikely you can keep it up if the business isn’t making any money.
It may not even be your fault. Some people have great business ideas but the economy isn’t ripe for them at that moment.
2. Your Health is Suffering
Another of the signs your business isn’t working is when your health is suffering. You may have the best business in the world, but if your health is going downhill it probably won’t last.
Burning the candle at both ends isn’t sustainable. Neither is working until you drop or not taking breaks. Without your health you have nothing.
3. There are No Days Off
Having no days off is one more sign things aren’t working right. Being busy is find or even great, but you have to take a day off for yourself occasionally.
Everyone needs time to relax and recharge. You also need to spend time with family and friends now and then.
The alternative can result in hard feelings among spouses, partners and other family members. Not only that, but you may miss out on important events and happenings that are once in a life-time.
4. You Start Avoiding Work
Once you start avoiding your work it may be one of the signs your business isn’t working. When you no longer enjoy what you do it may not be worth continuing.
Life is too short to dread or avoid going to work each day. In contrast, when you love what you are doing it makes work seem less like a chore.
5. Quality is Declining
If the quality of your products or services is declining it is a clear sign your business isn’t working. Of course it could be due to health issues, stress, or burnout.
But in reality the reasons don’t matter because the outcome is the same. If quality is declining to the point of hurting sales you may need to hang up the towel and close.
6. You’re Spread Too Thin
When you meet yourself coming and going it may be a signal that you are spread too thin. Overscheduling yourself is common for business owners and is another sign of an upcoming failure.
Again, meeting yourself coming and going can only last so long. Your health will take a turn for the worse if you continue working too much.
You probably worked really hard to get your business off the ground. Regrettably, sometimes the sacrifices simply aren’t worth it. Watch for these signs to help you make necessary changes in your life.
- Categories: Business Tips
- Tags: business failure