Do You Know these Five Hidden Company Killers?

You obviously wouldn’t deliberately put your own company out of business. But you could accidentally sink your firm, warns best-selling author Jack Garson in his latest Huffington Post article. Garson, an attorney, business writer for SmartCEO and author of How to Build a Business and Sell it for Millions, says that while some “company killers” are obvious — competition, obsolescence, too much debt — you need to keep your eye on five high-priority but hidden threats that could blindside you. Here are two obstacles facing your business:

1. Bad Customers
Some customers just aren’t worth the trouble, observes Garson. If you want to make money, especially when times are tough, focus on solid paying customers, not time-sucking clients who don’t pay.

2. Employee Turnover
A lot of businesses call employees their most valuable assets, but some don’t really mean it. Actions speak louder than words, and employees know full well whether their employer’s love is real or fake. When employees quit, the company incurs a host of nasty costs. Garson’s Huffington Post column offers tips for boosting retention.

Company killers can sneak up on you and strike like lightning on a sunny day. Jack Garson offers you the foresight to address problems that aren’t obvious, so that you can protect your company and prosper. To discover the last 3 company-killers, check out Garson’s latest Huffington Post column and follow @BizByGarson for further insight.