A few days ago I heard the song Killing Me Softly by the Fugees and it triggered off a thought process for me ( I often get these messages, not sure if they are the strange voices in my head LOL) that many business owners are the main cause of their businesses going broke.
Now I’m not sure that the song has any real significance ( except for the title) to businesses going broke ( unless your a signed artist that never really became famous) but for me the title said it all.
There are hundreds of thousands of business owners shutting their doors every day around the world, most of which could have been saved if it wasn’t for the business owner killing it softly. The sad part about it is most aren’t even aware that they were doing it.
If they gambled it away on a wild poker night in Vegas I’d say maybe, however most business owners spend so much time in “resus” mode (trying to bring the business back to life) that they literally choke the life out of the business. In some cases the sign on the door rather than “ We’re Closed” should have really said “Do Not Revive”
In other words the business owner gradually caused the business demise without either
- Being aware they were the purpose for the outcome
- Are so far disconnected that responsibility has become ‘outsourced’
- Mismanagement has been like a virus slowly infecting it’s way though and so on
So if you have any of the following warning signs you may want to re focused and change tact as I fear the outcome isn’t pleasant
The 5 warning signs to tell if you’re killing your business:
- The Voice In Your Head – it tells you to sleep in a little later “don’t worry if you’re late you’re the boss” or you look at making every appointment (non work related) during business hours to get away early or not have to be there for the day. The same voice has you thinking about getting out and going to work for someone and why you would be so much better off cause you get holidays and don’t have to worry about anything.
- Blame everyone bar yourself – when you forever get into this blame state and start saying things like “ if you want a job done do it yourself, everyone’s hopeless” and it seems that everyone is in on some elaborate plan to wreck your day.
- Justification is standard – you start to justify why you need to keep borrowing money without a plan or better still tell yourself that you will pay the BAS or GST later and say stuff like “ They take enough tax from me already” OR to your partner you continue telling them the reason why you’re not motivated, pissed off, not interested is all due to the fact that you work hard.
- Clients are becoming a pain – from the minute you wake up you regret every call you get and the second you see the number you say to yourself ‘WTF do they want now?”. The transactions become a chore that you palm off to a worker just to not have to deal with your clients.
- Need to Invest but you don’t – you are spending money everywhere other than in your business…on the renovation, the new car, the boat. Even though you know you should be looking after your asset you find every which way to flees the business.
Don’t let the business suffer a slow death especially one that could have been avoided. If you feel that this maybe you, don’t panic we can help. If you need one of my professional coaches take an outside view of the state of your business simply drop us an email at firstname.lastname@example.org and we’ll set up a Complimentary Strategy session and give your business a little check UP!!