Struggle. It’s part of the small business owner life. Even when things are going great it can be a struggle to keep up, meet the need, and move forward. But when things are bad, the pain is intense.
Is your small business in trouble? What’s the cause? This article in small Business Trends suggests it might be one of these five items:
- You are not marketing right.
- Your product or service doesn’t meet a need.
- You have too many competitors.
- Your product or service costs too much
- You are in the wrong business
Is the problem with your small business one of these items? More than one? It can be tempting to just pound forward hoping the problem will go away, but time isn’t on your side. Remember, if you want to sell your business you need to Increase your Seller’s Discretionary Earnings, and a struggling business rarely does that.