Certain business realities signal us that we should make a change if we are to survive. Herewith, a list of some of those signals.
1. You find more and more competitors in your market.
An indication that it's a good market, but being fractioned. Unless what you offer is both different and better, look for another niche.
2. Your market disappears.
OK, you make the world's best buggy whips! Wake up.
3. Your interests and values are out of sync with your business.
A formula for business disaster and personal misery. Revisit your vision and mission--and align them with your values. Now start again.
4. Your customers are leaving for your competition.
Either figure out why and fix it or find another business.
5. You dread going to work in the morning.
Figure out why. If it can't be changed, do something else.
6. You notice your competitors changing.
Have you noticed that, like it or not, it's a race? Do what it takes to win or join another race.
7. Working on the business is taking more time than working in the business.
If your revenue can't support more help, find a way to simplify and streamline your business (your competitors probably are).
8. You're losing key employees to your competitors.
A sure sign of "trouble in River City!" Conduct "exit interviews" with departing employees--figure out what the competition's got that you don't.
9. Your business no longer supports your lifestyle.
Well, change either one or the other until they're in sync.
10. You're neither learning nor having fun any more.
Certain death if you stick it out. Time for a fresh start.
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