5 Signs that your company is dying
Santa Clara: For an entrepreneur the death of his business is as tragic as a death in his family. He would have spent so much energy and resources into building it up from scratch and it is practically like his baby. But in most cases this tragic demise is inevitable, still if identified early, countermeasures can be taken to further delay or overcome this. There are so many different triggers and the only way to fight back is by identifying the symptoms early. Irrespective of the sector or the vertical your business is in, the symptoms always seem to remain common. Let us go through some of the most prominent symptoms. Lower demandRound the year the demand for products or services would not stand the same. There are periods with more demand and periods with lesser demand. Most of the companies follow this pattern. But if the demand is low and it is falling lower every passing month without recovery then you have a serious problem. When this happens, do not wait for more than a quarter to work out a remedy. Try to understand the issue, analyze it and take necessary steps to overcome it. Innovation and reinvention of products, service offerings, and business model can help in reviving the demand.