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TES 025 - 8 Warning Signs That Your Business is in Trouble

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Synopsis

In this episode #1 Bestselling Author and Highly Acclaimed business & Entrepreneur Expert, Mel Abraham reveals the 8 signs that your business may be in trouble."What are the things that I look for that might give me an indication that a business is in trouble?"There are 8 things to look forNo Growth or Margin Squeeze: A business is in trouble if it doesn't show trends in growth. The increase should not only be in revenue but also in profit. If it is lacking, the business can be considered to have a problem. We need to go back and evaluate what is causing it.Low Productivity: In business productivity is key either form an equipment, people or attitude perspective. We have to see how people treat customers, team members and each other. Challenges in having the right attitude means that we need to separate the people and understand the cause or dynamics at play.Loss of Market or Concentration: Profits will decline when there is erosion in market share and that is not a healthy sign. We need to