Warning Signs Is your business in trouble?
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 BIZ Experiences magazine, August2001
