Some small enterprises thrive, others fail dolefully. The question here would be, are things really alright at your small business? Be all eyes to notice some of the following signs that your business is failing, and take appropriate rescue measures asap.
a. Miscalculation from the start
Setting up any enterprise requires the person(s) responsible to be meticulous. A good number or small businesses fail because they started on the basis of peer pressure, rumours, idleness, temprary goals, illegal motives, etc. In the long run, the realities on the ground slap hard - no customers, and difficulty in stocking and paying bills, forcing closure.
b. Strain when it comes to bills
A successful business is simply a legal entity where more money comes in than it goes out. If it reaches a point where you’re left with too little to nothing after, or even have difficulties paying your rent and utility bills, let alone raising revenue to restock and pay your assistant(s), that’s a sign that your small businesses is on the verge of its collapse.
c. The community is against the business
An ideal society will only be against a business that’s haram. There’a a difference between the society and haters, the former is the majority who’s disposition cannot be ignored and the latter just a minority. If most of your neighbours, who are your supposed customers, are at odds with your liquor store, casino, night club and such, you won’t make it.
d. Other duties have you stay closed half the time
Most small businesses only generate income when their doors are literally open. If you always have to attend to church meetings almost every afternoon, monthly family get-togethers, all the weddings and funerals in town, political rallies, and useless dates and hook-ups, it is as plain as the nose on your face that your small business is going to fail.
e. Your intuition tells you so
The proprietor is always aware, consiously or subconsiously, when their enterprise is doing okay or otherwise. If your gut feeling (that truthful voice from within that you always try to silence or ignore) tells you that your small business is falling apart, basing on a number of factors observed and analyzed over a period of time, it actually is falling apart.
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