5 silent company killers that creep up unawares
Building a business is difficult. Dealing with the stress, heartache and fallout that results from a failing business is another thing entirely. And the root causes are often right under our nose.
Silent company killers are scary things indeed. They creep up unawares and have quite often done their damage before you have the chance to react.
It’s time for you to turn company killer detective. In this post, I’ve got 5 of the most common you should be hunting down right now. Let’s put them to rest before it’s too late.
1. Disquiet among the ranks
Employees aren’t always forthcoming with their concerns. Instead of approaching management, many will choose to instead grumble amongst themselves and create an undercurrent of displeasure.
That undercurrent rarely raises it’s head, but when it does, it’s often too late. Disquiet among the ranks is cancerous, so ensure you give every member of staff equal opportunity to speak out, even if it results in an uncomfortable conversation.
2. Poor advertising choices
Perhaps you’ve decided to inject some ‘humour’ into your advertising. Maybe you’re forgetting to check placement before editorial goes to print. You’re not alone; advertising mistakes are easy to make.
We live in a world where word travels at lightspeed. Make sure the public image your company is portraying is the right one.
3. Forgetting the environment
I’m not going to go all ‘green’ on you here, but we’re now surrounded by a huge array of checklists and tools for protecting the environment, and they contain an incredibly useful reminders for businesses.
Did you know that a single unit of electricity has the same carbon footprint as 12 hours of TV? I didn’t either, but it has reminded me to turn things off in the office when they’re not being used. And that means no surprise energy bills. See where this is going?
4. Non-profitible customer relationships
We all love a cosy customer relationship; they make us feel warm inside and confident that we’re doing the right things as a business. And that’s fine, until they get too cosy.
Some customer relationships can grow so close they become unprofitable. The odd freebie here, another wine-and-dine evening there… it can all get rather expensive and untenable on your behalf.
5. Too many meetings
Experts suggest we spend up to 31 hours taking part in pointless meetings each month. And that’s not surprising; how many times have you sat in a meeting room wondering what on earth you’re doing there?
Too many meetings can kill businesses. Only conduct them if you are 100% sure they are necessary and always keep them to time. It is possible, I promise.
Summary
If a business fails, it fails for a reason, and if just one of the potential company killers above has raised an eyebrow, it’s time to sniff it out and make the kill before it kills your hard work.
