5 Red Flags Your Business is Going Under

There are always signs that your small business may be in trouble and at risk for going under.

Taking time to periodically assess your business can mean the difference in it being too late to fix the problems and redirecting your small business onto the right path for success.

If you fear your company tanking in its startup years, here are some red flags to look out for.

There is No Responsibility

Are you hearing more blaming than people taking responsibility for things? That may seem like typical office/business behavior for some, but it is really a huge red flag that there are issues.

People should be accountable for things that are going wrong and own up to it, without passing blame to their fellow worker. If you are in the middle of a business with more blame than responsibility, take assessment of the situation and see where improvements can be made quickly.

There is No Focus

Are there so many things going on that everyone is multi-tasking or losing sight of what the primary goal of the company is?

Is there personal problems running rampant in the company? Is there a case of the Mondays all week long? Losing focus may also seem like a typical business issue, but it is again a red flag that there is issues with the company.

Your Workers Are Unhappy

Are there rumblings of finding other employment going through the workers? Are they stressed over losing their job or more personal problems in their lives? Are they just generally unhappy with their current surroundings?

When the staff is unhappy there is definitely something wrong with the company.

Staff should be happy to come to work and put in a full day instead of counting the seconds before its time to leave. Calling a company meeting to go over issues in a non-judgmental environment can help this problem.

You’re Having Money Problems

Whether you are borrowing more than you are taking in or if the bills are getting paid later and later, problems with money is one of the quickest ways to have a business fail.

Go over your accounts with a fine tooth comb and see where you can tighten up spending and relax this issue as fast as you can.

People are Leaving

This is tied to the unhappy staff, but if you see a high turnaround of employees you are losing time, effort, and money. It takes funds to train a staff and if you are constantly training and getting new hires, there is little time for more in a business. Try to keep your staff and learn why they are leaving before your business goes under.

With these flags now in your mind, you're more aware to see problems and fix them before they take hold in your company.

Always stop problems before they become unfixable, which is the main reason that small businesses fail in this country.