As entrepreneurs, we always want a red light as a warning sign that exists in the manufacturing plants that will tell us when something can be wrong to stop the process, eliminate errors or problems and activate the process again without errors.
Do you want to know when something as a sign from your internal and external environment means that you need to make something for your business?
Probably yes, you want to know. Because of that, you want to look at reports, and you want to talk with customers. You want ideas from employees.
In this post, I would like to talk about the eleven most important warning signs that will mean you must immediately do something for your small business.
#1 Your Customer’s Behavior Isn’t Same as a Warning Sign
You and your employees know the customer’s behavior from the last several purchases. If you find something wrong with their behaviors, it is enough strong warning signs that you need to make something.
Talk with them about the problems. Ask them how you can help them. Help them if you can, or improve your business if there are some reasons for their dissatisfaction.
#2 Increased Number in Complaints by Customers
You know that you can’t satisfy everybody, but as an entrepreneur, you don’t want to please everybody. If you start to receive complaints from customers, that’s a warning sign that you need to make something.
Find why they complain and immediately remove the reasons. It is an excellent strategy to call them back and thanks to them because they help you to improve your own business. In such a way, you simply tell them that you listen to them, which will build better trust in you and your company.
#3 Your Competition Start With Changes
Sometimes changes that your competitors make can be a strong warning signal that you need to do something also in your company. Probably, they want to make something that will impact on the market share of your company.
If they make changes, ask yourself the following questions:
- Why are they making such a change?
- What do they want to achieve?
- Do you need to make something?
- What do you need to make?
If you want to be always one step ahead of your competitors, you must follow what they make.
#4 Declining Productivity of Your Employees
Productivity is an essential part of your business success. If your employees are productive, the overall business efficiency will be OK.
If you find that productivity is at the declining level, you need to make something if you want to escape from disaster.
#5 You and Your Business Continues to Deal With the Same Mistakes
Do you find yourself solving the same problems repeatedly? You and your employees are frustrated by repeating the same tasks repeatedly. That’s not productive work.
If that’s a case in your company, you need to make something. You must remove all causes of your business problems at the same time while you solve the problem. In such a way, you don’t need to solve the same problem in the future.
#6 Your Marketing Efforts Didn’t Give the Results as a Warning Sign
Every small-business owner uses marketing to send a message to their company. However, the problem is that sometimes some of the marketing efforts didn’t give you the results that you want or expect.
There is no worse than investing your time and money in something that will not return the investment, or simply don’t give the results that you want.
If you find that some of your marketing efforts are not worth doing anymore, stop doing them, try something new, something that maybe will give you better results.
#7 Your Sales Numbers Decline as a Warning Sign
Do we need to comment on this warning sign? I think that this is so obvious.
#8 New Technology Makes a Pressure on Your Business
You, as an entrepreneur, can’t stop the appearance of new technology. Every day, every minute or probably every second, there is something new. Do you find yourself buying some very cool gadget, but after several months to see that there is a new, better model of it?
The new technology will put pressure on your company. If you don’t feel the pressure yet, you will feel it quickly. But, more important for you, is that you must know that technology will influence on your everyday business operation. You need to follow what’s happening outside your company and make appropriate adjustments in your company.
#9 Your Costs Increase With Large Rates as a Warning Sign
Again. I think that this sign doesn’t need comments. If your costs increase with really, really large jumps, you need to make something.
#10 You Spend More and More Time on Your Business
Do you spend too much time in your company?
Do you find yourself each day going home really late at night?
Do you find yourself as a person that has only 24 hours daily, but need 30 or 50 hours to work in the business?
If you find yourself in the answers to the above questions, then you really must change something in your behavior but also your business.
#11 Your Business Can’t Operate Without You
Do you feel like a person without whom the business can’t survive?
Do you want to be everywhere to check and fixing things even you have employees for such a thing?
If you think that it is typical for small businesses that can’t operate without the owner, you are wrong. You are the person who builds the business, and you have built your business in such a way that it can’t operate without you.
You need to change something but from the very own basis of your business.