Money
1. Scattered Day Plans.
2. DIY Syndrome
3. Discorganized direction
4. Untamed Distractions
5. Leaky Expenditure
6. Collection (all) Customers
7. Energy-Sucking Employees or Clients
8. Persistent Procrastination
When is it Time to Let a Struggling Business Go?
For a business owner, the business is much more than a building, a stack of invoices, boxes of products or a name on a business card. The business is a dream. It is the sweat and tears of the owners. They most likely see the business as an extension of themselves, as proof that their ideas and creations have paid off. When a business owner is faced with the possibility of letting a struggling business go, they are in a sense letting a piece of them go.
Today’s economic climate is anything but predictable. Almost every industry is seeing a record number of closings. No one is immune. However, there is also a lot of hope out there for businesses in the form of bailouts and economic stimulus packages. For a business owner wading through a downturn in business, it can be difficult to figure out if the downturn is something to ride out or if it will destroy the business. While there is no set formula for figuring out for sure when the exact time is to let a struggling business go, there are some tips that will help owners make the decision a little bit easier.
