Warning Signs Is your business in trouble?

Aug 21, 2002

Share

People who start businesses tend to focus on the bright side ofthings, a quality that helps when things are looking bad. Justdon't forget to keep your eyes peeled for these signs of adoomed business:

No business plan.
No board of advisors.
Insufficient capital.
No exit strategy.
Nothing backing up the hype.
Personality conflicts.
All offense, no defense (such as establishing a limitedliability entity, obtaining adequate business insurance and formingcontracts to protect yourself in customer, supplier and vendorrelationships).

Excerpted from Entrepreneur magazine, August2001

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

'Absolute Freedom': Siblings Behind a Self-Funded 8-Figure Brand Reveal 3 Secrets Aspiring Entrepreneurs Should Know About Growth and Success
Gallup's Chief Scientist Says Only 20% of People Trust Leadership — Here's How to Fix That Problem
'The Market Is Hot': Here's How Much a Typical Meta Employee Makes in a Year
I Achieved Success — But Realized It Wasn't Sustainable Until I Made This Crucial Shift in Leadership
After 14 Years as an RN, She Opened the Business She Always Wanted to See — And Reached $1.3 Million
Young People Are Achieving 5-Figure Incomes Without a 9-5 Job. Here's How — Plus the Critical Skills They Say School Doesn't Teach Them.

Most Popular

See all

Leadership

I Fired My Smartest Employee — and It Was the Smartest Thing I Ever Did

I've seen thousands of impressive resumes over the years, but one important lesson I've learned is that intelligence without emotional intelligence can be detrimental to your team and your business.

By Chad Willardson