5 Big Signs Your Business Is Becoming Irrelevant, And The Ship Is Sinking Fast
How do you know if your business is fading away? Well, it doesn’t happen in a day, a week or a month. It happens slowly and quietly. Usually, the situation is waving right in front of your face, and you think the present way of doing things is acceptable. If you spot these signs, it’s very clear that your ship is sinking.
You measure internal activity instead of external impact. Details are the most important to you. Things like the colour used in the presentation slides, the images being used for the website and so on.
You listen more to yourself than your subordinates and customers. You are right, and they are all wrong. Always. Constructive debates have completely stopped.
Your top people are leaving you. Those high performers leave first when they sense the ship is sinking.
You give away discounts to just any customers even though they aren’t your real target market. You have zero authority in the industry, zero pricing power, and your margins are paying for your lack of value.
You keep using the same old customer names in your presentation and website despite them no longer using your product or service for a long time. This is just sad.
Have a good read of these pointers. If these patterns are visible in your business, it is time to do something now before the ship is completely submerged.
Build a strong business value proposition
It will help answer your customer’s question: Why must we buy from you?
