Signs that Your Business is Failing (BEFORE the Revenue Loss)

by Kevin Ross - Posted Friday, February 24th, 2012. Category: Entrepreneurs

Fellow Entrepreneurs..Remember the days that you rolled out of bed ready to take on the new business day with glee and excitement? Do you STILL feel that way about your Small Business? If’ you’ve been doing it for a number of years… probably not. Reason? Well, they don’t call it the 7 Year Itch for nothing. It does apply to relationships but relationships of all kinds, including the one that you have with your business and you might very well be tempted to have an “affair” with a whole new business.

I read about an Entrepreneur who lived in New York and ran a bakery for 10 years. He made a lot of money but after 7 years he was burnt out and lost his joy to do it. He didn’t contemplate and make excuses forever but he held on for an additional 3 years and mapped out his plan.  He and his wife sold the business at 10 years then they moved to California’s Wine Country in Temecula Valley and opened an Art Gallery? Seems strange at first but they have events that they tie in with the wineries at their gallery. Something TOTALLY different than they were doing before and they are still very successful and they love it. Not because they picked a new business that would be successful but just the opposite…because they already KNOW how to run a successful business!!!

If any of the following apply to you, my friends it’s time to look at starting a new business.

  • You don’t wake up with the same joy or anticipation you once had and it has become a “job”
  • The industry that you work in has changed because of the economy and you are struggling to make ends meet
  • You now have way to much competition and you the client base has gotten smaller
  • You are bored with the business
  • You’re not making the money that you once did but you keep doing it because it’s “paying the bills.”
  • You are no longer interested in the field of your business.
  • It has become draining
  • You are constantly working and you feel it. (When you have a business that you “love” it doesn’t seem like you are “working”)
  • You just want to make a change

Well, it’s time to stop complaining and do a spreadsheet with what you would REALLY like to do in your new business. Whether it’s connected to what you are doing now or something totally different, you can do it. So start planning and stop complaining.

Best in Business

Kevin Ross