Your Startup May Be in Trouble If…………….
It can be said that running a business is much like riding a roller coaster as there are many highs and lows along the way. At times you feel like you’re on the top of the world because everything is falling into place just perfectly. But then suddenly, out of nowhere, you can experience a low due to an unexpected occurrence that completely throws you off track. When this happens, sheer panic can set in as you know that the odds of succeeding are against you right from the start.
So how do you know when your new startup is really in trouble or when those little bumps in the road are nothing more than roadblocks every business faces on its journey to success? To ensure your new business doesn’t end up in the startup graveyard like so many new businesses do, it’s important to know the warning signs of a dying startup so your company is one of the few that does succeed.
If your startup is experiencing any of these signs, it’s time to change gears and shake things up a big to put yourself back on track.
It is Taking Twice as Long to Complete Tasks
If you find that everything you do is taking you twice as long to complete as it did when you first started, you need to make your business more efficient. A healthy business that is running smoothly is like a car engine that is fine-tuned for efficiency. You need to maximize the time you spend running your business whether that means delegating more or re-aligning your priorities so that the most important tasks are completed with regularity.
Your Team’s Passion has Fizzled Out
If your once-enthusiastic team is now lethargic and without passion, it’s going to affect your business in a very negative way. The people working for you need to be enthusiastic about what they’re doing and about your business as a whole. Sit down and ask why they’ve lost their mojo and then fix what is ailing them.
You’re Not Getting any Media Exposure
If the media is ignoring your business it means your business simply isn’t newsworthy enough to bother with. How do you make your business more worthy of media coverage? By taking action and doing something innovative, unique and interesting. You need to make headlines because if you don’t, your direct competitors will steal the limelight from you. Get involved on the local level to get your name out there and be proactive with the media by contacting journalists to inform them you’ve got a great story to share.
You Come up With Excuses Why Things Aren’t Going as Planned
When negative things happen like plunging sales figures, are you quick to blame something or someone else? Remember that you’re the captain of your own ship and it’s up to you to right the wrongs that are happening to your business, no matter what. You need to face your own failures and shortcomings and move your business forward when things don’t go as planned instead of pointing the finger when things are askew.
