Do you think that you are going to lose your company? More than 50% of companies want to close or merge with another company because of many reasons. Entrepreneurs when they start the business do not have proper planning, no goals and no 100% focus on their business. Sometimes do not know the reason for starting a business; it becomes a matter of copying another person. Keep an eye on yourself, and if you cannot reverse the problems, the only solution is to leave your business.

1. Signs of a Sinking Business
Do you think that you are going to lose your company? More than 50% of companies want to
close or merge with another company because of many reasons. Entrepreneurs when they
start the business do not have proper planning, no goals and no 100% focus on their
business. Sometimes do not know the reason for starting a business; it becomes a matter of
copying another person. In some families, one partner tried to help the other partner to earn
money to lead a better life. Therefore, they start the business without knowing the ins and
outs of it. Then they become convinced the company is not for them and try to leave that to
save them from increase debts.
https://youtu.be/IQQdYWRFILg
Is it necessary to meet the goals to survive?
When you start a business, do not insist on making a huge profit straight away. Try to meet
your goals to survive about which you would have mentioned in your business plan. If you
think that, you are not achieving your goals, then the solution may be to close it down. It
might be tough for a small business owner to close the business down unless you find an
alternative. A true entrepreneur attached to the industry emotionally because of the hard
work put into the setting up of a company. You go into the store thinking, “That I am excited
and will succeed” but put a question of failure in your business. Therefore, the emotional
attachment may not help them to see the disappointment that they will face eventually.
You need to note the following points to make sure that you are not completely
losing.
Cash flow
You should check your cash movements in your business to review and monitor the income
and expenditure. If you find it challenging to balance the cash, change that is a first sign of
the struggle. To restore it you can have short-term loans to match up the deficit but do not
keep doing it.

2. Budget
If you are spending, more than the budget is negative then you need to analyse the variances
quickly and revise your budget. If your expenditure is less than your budget you have a
limited budget, and still you can change your budget to keep the costs down.
Losing customers
Increasing complaints from your customers about your product or service shows that you
have a quality issue. Therefore, another sign of losing business that said you could reverse it,
pay attention to your quality, and find new customers.
Excessive price cuts.
If you find yourself slashing prices more than you thought, you would, that implies
desperation that may be fatal. Bear in mind that maybe for any reason but you are cutting
into your profit margin.
I am paying with plastic.
If you are resorting to a credit card to meet payroll, you are only adding to a debt level. That
ultimately going to strangle you.
Find out exactly why you do not have the cash.
Slow payers?
Lack of work?
Unnecessary expenses
Too many staffs.
It could be some things, and each of them has their way to be fixed.
The key here is- when you want to hire employees, get yourself a line of credit from a bank.
That credit will cover two months’ worth of payroll, benefits, and taxes if possible at least for
a month.
I am having too much stress or not enough happiness
Keep an eye on yourself as well. If the business is killing you, trouble sleeping, short temper
that can signal a company may not be worth keeping afloat.
Talk to your advisors, your lawyer, and an accountant. They can often tell you when your
business is in real trouble. Friends and family members can see the signs without even being
involved in the industry, but by being involved with you.
Summary
Do you think that you are going to lose your company? More than 50% of companies want to
close or merge with another company because of many reasons. Entrepreneurs when they
start the business do not have proper planning, no goals and no 100% focus on their
business. Sometimes do not know the reason for starting a business; it becomes a matter of
copying another person.
Keep an eye on yourself, and if you cannot reverse the problems, the only solution is to leave
your business.