as a sequel to today’s mornng post….
There are many signs that your business is failing..let us look at the obvious signs…
- If you are the CEO/Owner and you do not like to go to the office: it does not get worse than this. You are just not in a mood to go to office, and you drag yourself there. If you enjoyed going to office, why would you have to be dragged?
- You are not keen to talk to potential customers. You know where they are, you know who they are..but you just do not seem to have the energy to prospect.
- No incoming calls from potential clients. Clearly your body language is such that you do not attract customers..and if you have been in the business for more than say 10 years, your business has to spread
- You are afraid to talk to some very important clients. Even though these clients are your lifeline you are ‘hoping’ that they will continue to be your customers. The truth is you are afraid of facing the prospect of losing that client.
- If you stand a little away from your self you can see yourself repeating your mistakes. However you do not acknowledge it even to yourself.
- Your cash flow sucks. Your top management salaries are delayed, your bills are never paid on time, your annual appraisals are ad hoc. Those people you like you do adhoc appraisal.
- You have a serious attrition problem. Those who do not leave are those who cannot leave – either they are already overpaid or they are under qualified to make a change. Or they are too lazy….but you also realise that they are worth less but you are helpless. You do not have the HR strength to sack or take a little extra as a cushion…
- Leaving employees are not wanting to come back even for a higher salary. You are unable to attract, train or retain. Your training budget is nil because you feel that there is no point in spending money on training.
- Your banker is not exactly friendly with you. In the annual review he was wondering why he should give you such a big overdraft as you are unable to service the interest payments on the due date.
- On a year on year basis your net worth is down. This is despite the fact that you repaid a part of the loan by selling some assets.
- You have cut back on some basic facilities in the office, and people are paying for the meager services that is on offer.
- You have cut down on term insurance, free parking, medical cover for your employees’ dependents, ..and there is general ill feeling.
- Employees are noticing that the company is failing. You see people going at similar salary if they get a similar brand..and even lower salary for a better brand.
- Not too many colleges want to see you coming for placements. Your offer is about 50% of the best offer in the campus!!
- Well, there are not too many points to write!!
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