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BLATANT SIGNS YOUR SMALL COMPANY IS GOING DOWNHILL
Businesses are a little bit like ice creams on a sunny day – they don’t last forever. Either they melt in the heat or get eaten. Either way, the outcome is rarely good long-term.
Eventually, therefore, you’ll find your business on shaky ground. Something will change (usually technology, regulation or consumer tastes), and your firm will start to go downhill.
The trick is to recognize when circumstances conspire against you so you can take action to mitigate the fallout.
There is no shame in admitting your business has a problem. Just look at what happened to Apple in the early 1990s. The company nearly went bankrupt after becoming bloated and delivering sub-par products to consumers that destroyed its brand and reputation.
The trick is to identify issues early so that you can respond effectively. Here are the signs and what to do. (more…)