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Warning Signs Is your business in trouble?

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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

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