All businesses are at risk; that’s a natural state of the modern market.
However, some businesses are more on the edge than others. Does your company fall into this bracket? It’s best to look for the signs early on and act on them as soon as they present themselves. Risk takes some safeguarding, and a lot of that is about being proactive! Check out these three common signs for the best areas to place your focus.
Your Sales are Suddenly Low
This can happen occasionally, and 9 times out of 10, it’s not something to worry about. It could be because it’s the wrong time of year, but you should have marketing in place to take care of things.
However, if you’ve investigated and found there’s no real external reason for such low sales, it’s time to look inward. If you don’t, this could put your business at risk in the long term and even cause you to shut up shop within the year.
Could you find out when the low sales started and if it coincided with anything that happened within your company? Is there a trend? You'll be able to find out now and act on it later when you're able.
Your Website is Outdated
A cyberattack is the most common form of risk facing modern businesses. If you’re not doing the basics to keep your website, online presence, and backdoor data vault safe, you’re doing your business and all its customers a huge disservice. If you don’t have an IT team in place and you’re incapable of maintaining your cyber needs yourself, it’s time to hire someone or put an entire department in place!
Indeed, when it comes to safeguarding data, the essential thing to do is keep your website updated and ensure any plugins you’re using are regularly patched and maintained. The more time you spend troubleshooting, the safer your data stores and usage will be.
You’ve Had a Lot of Employees Quit
A high employee turnover rate is a terrible thing. If you’re hiring new employees and then losing them in the same month, it means there’s something wrong with your workplace. It’s hard to build a functioning, cohesive business if there’s no one there to help you!
So, what’s going on in your workplace, causing your new employees to leave as swiftly as they came? It could be a coworker’s conduct, it could be your own, it could be because they’re getting a much better offer elsewhere.
You’re going to want to fix this problem as soon as possible. Your team will suffer if the links within it are weak. Take some time to refine your inner policies and make sure you’re leading by example here.
When your business is at risk, please know. Could you investigate as soon as the signs present themselves? The quicker you act, the quicker the problem is resolved correctly.