Too many business owners wait till the very last stages of failure to launch a  ”salvage the business plan”. The reality is at this point there is often very little to salvage, you become another victim to your imperturbable attitude towards your business. The initial signs of the path to ruin are always very vivid and if taken to consideration more often failure might not be so common. Here are the three most important:

1 Denial: “We are usually slow this  time of the month” and “Its the economy” are common excuses used by business owners in order not to confront  the inevitable failure of  a business. Denial is always the first stage. The sooner you can accept the agonizingly dreadful fact that your business is suddenly standing on it’s last leg , the sooner you can save it.

2. Lack Of Communication: The lack of communication between partners and/or staff shows weakness in a business. In a thriving business environment, your employees should be reporting  back to you with feedback from customers on how to make your business better. There should always be  constant brainstorming between partners to map out plans of expansion.

3. Unnecessary Cost Cutting: Don’t get me wrong there is nothing wrong with cost cutting and finding cheaper alternatives, but if you find yourself in a situation where you’re habitually trying to find a cheaper alternative to everything in your business then there’s something wrong. Don’t even try and pass it of as being frugal.

If you can come to terms with these signs upon their arrival, then you have a chance at keeping the ship afloat.