| Perhaps it's time to take a serious look at your | | | | - Are calls from creditors increasing? |
| situation and ask yourself, "How do I know when to | | | | - Is the business causing family stress or affecting my |
| close the doors to my store?" It is definitely not a fun | | | | health? |
| subject to think about, but in these economic times, it is | | | | If the answer is yes to one or more of these |
| one that we all must consider. There are many | | | | questions, it is time to take a serious look at the |
| reasons why businesses choose to exit their | | | | continuing viability of your business. There are many |
| businesses, both personal and financial. Retirement, | | | | solutions that you have at your disposal. The one that |
| health issues and family situations are normal reasons. | | | | most people are taking is to do nothing about it and |
| But there are additional problems, due to the current | | | | carry on as if everything is honky-dory. Sadly, the |
| economic climate, that have rapidly moved to the | | | | majority of those people wake up one day and find |
| forefront. | | | | that they are forced to close down their business, or |
| Does Your Business Pass The Following Test? | | | | they are faced with a divorce from a neglected |
| Ask yourself the following: | | | | partner, etc...Don't let yourself fall into the "do nothing" |
| - Am I adequately paying myself? | | | | category. Now is the time to be smarter when it |
| - Am I putting personal money into the business to | | | | comes to business. Be wise with your decisions by |
| meet daily expenses? | | | | doing some research and really digging into the |
| - Are payables rising and past due? | | | | information about your business and it's health. |
| - Am I considering a home equity loan or using credit | | | | I heard once that a plane must course correct 100's if |
| cards to pay bills? | | | | not 1000's of times to reach it's exact destination. The |
| - Do I have to run strong percentage-off sales to raise | | | | same is true with business. Just getting yourself off the |
| cash? | | | | ground and running doesn't give you an automatic pass |
| - Are inventory levels declining? | | | | to the destination of your choice. Course correct, and |
| - Have I significantly reduced advertising to save | | | | do it frequently! |
| money? | | | | |