Detecting Red Flags: Business Early Warning Signs for Success
Some unintentional observations I made during a recent trip around town.
This one from an industrial area:
This one from a well established suburban area:
Warning Markers in a Business Environment
$15 dollars for an egg and bacon roll with a small coffee compared to $10 for an egg and bacon roll with a medium coffee. Is the second option better than the first?
These businesses are showing early warning signs that they are not performing. Ultimately, they will be sold or simply shuttered. I hope I am wrong.
You can fix this by simply asking – What market are you in?
This business owner knows the answer to this question. This owner runs the worst vegetarian restaurant in town! I’m guessing the steak is pretty good.
Steer Your Business Toward Success
What about you?
Do you know what market you are playing in?
Do you know the market you’re not playing in?
Don’t wait until it’s too late – equip yourself with the knowledge to identify and respond to early warning signs to safeguard the future of your business.