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5 Warning Signs You Should Never Ignore (And what to do if your hand is raised and your head is lowered) #1: Cash Flow Problems – Running into a cash flow crunch is every business owner’s worst nightmare because in some ways it means that you have failed. The truth is that even some of the most “successful” business owners and coaches are in the red when it comes to finances. (They just don’t tell you about it.) There are plenty of “gurus” our there who claim to be running 7 figure businesses, but have you ever stopped to ask what their net profit is? If you are coaching with one of these types, they may be training you to run a 7-figure business while being 6 figures in the hole. If you want your business to be cash flow positive, don’t spend more money than you are making. Operate on a lean budget and keep things tight. It’s that simple. #2: People Problems – Are you seeing a pattern of unhappy clients in your business? Have you had a hard time finding a VA who follows instructions or completes tasks correctly? There are a few potential issues here, the first one being that you may be attracting the wrong kind of client or independent contractor because you aren’t clear on your own values. Another issue may be that you have not been clear about goals and objectives when you work with others. Always remember that with clients and outsourced team members, everyone needs to know what your goals are, but you need to take the time to understand theirs as well. #3: Customer Service Problems – When clients aren’t happy with your product or service, how do you handle it? Do you take it personally? Do you give them their money back with no questions asked? What percentage of sales that you make end up getting returned? Customer service problems are indicative of a flaw in your client retention system. Use this as an opportunity to ask questions and get valuable feedback so you can make your products and services BETTER. This is especially true if you are hitting a large volume of sales while seeing an even bigger number of returns. If you want happy customers (even if they have returned their purchase), think about what you can do to leave them with a smile on their face as they walk out the door. If their smile is big enough, they will be back! #4: Passion Problems – Do you dream of doing something other than the work you do every day? Do you wish you could be somewhere other than exactly where you are? Do you feel ho-hum about your business? If you have lost that loving feeling for the work you do, it will be extremely difficult to find success unless you figure out what is missing and fill in the gaps with inspiration, fun and passion. Work doesn’t have to be a drag, it should be fun! Make every day a party by getting clear on what you love to do and making adjustments in your business that align with your evolving passions. #5: Branding Problems – Are you attracting the wrong kind of clients? Are you clients confused about what types of products and services that you offer? Have you changed your messaging more than a few times over the course of the last few years? If you are confused, so are your customers and potential brand ambassadors. You need to get focused so you can start building an army of brand ambassadors that not only love your brand, but want to tell everyone they know about it! If any of these warning signs ring true in your business, it’s time to take immediate action. If you can’t climb your way out on your own, never hesitate to ask for help. Have you experienced any of these warning signs and lived to tell the tale of business survival? We would love to read your thoughts, questions and comments to continue this discussion!