Businesses are meant to make you money, to support you and your family’s lifestyle. There are times in your businesses journey, especially when you are starting out, that you have to pay the business. It’s almost inevitable because you are making an investment in the future.
However, this should only ever be a temporary position. If you find yourself regularly paying the business beyond what could be reasonably called the start up stage then there is probably something very wrong with the business.
It may be time to take a long hard look at the business and assess where the problem may lie.
The possible issues your business could have are numerous and could include:
- Lack of sales
- Incorrect pricing
- Overheads too high
- Wrong product
- Wrong market
- Not a viable business
- Customers not paying
- Paying suppliers too early
Whatever the reason for a situation where you are personally paying your business to keep it running, one thing is for sure, the business won’t be able to survive. Make it a priority to find out what is wrong and do something about it because unless you have deep pockets this situation cannot continue for long.
If you would like a FREE meeting to discuss the issues in your business then give me a call on 01622 671835. I will take a confidential impartial view and give you honest advice and feedback.
