Drifting into danger? 15 warning signs to watch out for
1. Someone asks where your business will be in one year and you don’t have an answer. You ask your partners or management team the same question and you hear wildly different answers.
2. You have some idea of your vision for the company, but you don’t have any idea what you’re going to do in the next year to make this a reality.
3. Your company won’t hit its revenue goals this year. Although there can be many reasons for the shortfall, you’re not sure how to grow the top line.
4. There are inconsistencies in your brochure, website and sales collateral. You can’t understand the content. More importantly, neither can anyone else. You find that when you explain your business to a potential client, you give differing explanations each time about how you provide value.
5. When your customers ask you to explain why your company is different, you don’t have a good response.
6. Everything on your to do list is a priority. You don’t know where you time is best spent.
7. Friend and colleagues can’t refer you because they aren’t sure exactly what value your business provides and to who.
8. You’re presented with a business opportunity and you are unsure how to evaluate whether it’s something your company should pursue. In fact, you normally pursue all opportunities for fear you may miss out on the big one.
9. Your business development consists largely of attending networking events, but you spend most of your time talking to people you know. You rely solely on word of mouth for new customers.
10. You don’t know why your customers buy from you. The majority continues to do business with your company, but you’re not sure what keeps them coming back. You’ve never really asked.
11. You find your clients contracting with other companies for services you provide. When asked, they say they didn’t know you offered those services.
12. You ask your employees what success looks like and they don’t have a consistent answer.
13. You complain when your customers call as you just don’t have time to talk to them.
14. You determine your pricing by looking at your competitors’ prices and discounting slightly. All your prices are based on your competitors’ offerings.
15. You’re asked why you’re in business and your only response is ‘to make money’.
Author David Bowler is co-founder of Incisive Edge [solutions] www.incisive-edge.com, leaders in creating sustainable competitive advantage for business. Contact them on growth@incisive-edge.com or call 0800 433 4044

