5 Common Symptoms of a falling business
If you have started a new business in Nairobi or any other part in Kenya, you need to watch for some signs of your business not doing well. Below are several things you need to get concerned with if you discover that you business is not doing well.
No new reported customers
If your business is not receiving potential customers after a certain period of time, then you need to check out on what is happening with your business and why people are not seeking your services or products. If other companies are eating up your competition, find out new ways that will drive customers to your business. Every business survives through the power of its customers, without them it can’t generate any revenue. Prioritize your customers all the time.
2. Public exposure, Marketing and branding
If your business is not well recognized in the society, it might be a bit hard for you to create awareness to potential customers and clients. Work on advertising your business, it doesn’t cost a lot. If you just put up several adverts and poster near your town, then you will have already sent the word out.
3. Repeating silly mistakes
If you and your employees are making the same mistakes without realizing it, then your business or company might not go so far. If you have problems with some departments in your business, work fast to correct them. If you don’t figure out early enough on how to settle down client and customer disputes, then your business will be in a great danger of falling.
4. Accumulating unpaid bills.
A successful business normally pays its bills on time, if you find out that your company is not able to pay some bills due to shortage of cash-flow, then this means there is a big problem on its income generating strategies.
5. Heavy debts
Heavy debts from bank loans, investors, employee wages and suppliers are a red flag to your business. Some debts are common, but when they pile up in excess, this might prevent you from turning your organization into a profit, which was your main objective of starting the business.
Is your business falling? do you need extra capital to boost your business? if yes, apply for a loan with us. At RG Sacco Ltd. we fund businesses with affordable loans that come with a return interest of only 1 percent. >>>>>Click here to learn more about our loans<<<<<