The CEO and president of BCG Advisors in Secaucus, New Jersey, Bill Scuorzo and his colleagues provide employee benefits and commercial insurance solutions to clients. In addition, Bill Scuorzo, is active on such social media websites as Twitter and Facebook, and also invests in struggling startups and small businesses through his second business, AndAme Investments.
There are plenty of reasons small businesses fail, including too much dependence on one consistent client and poor time management. Here are several signs that a small business is struggling:
High employee turnover.
All companies lose employees, regardless of how successful they are, but struggling businesses lose employees at a particularly high rate. This is often the result of poor staff morale caused by bad working conditions or management, and leads to low productivity in the workplace.
Can’t pay bills on time.
Struggling to pay a bill on time every once in a while is not unusual for small businesses, but failing to pay bills on time repeatedly is is a sign of serious cash-flow problems that eventually affect a business’ ability to operate effectively.
Decreasing customer retention.
Businesses that are losing more customers than they are bringing in may have either poor customer service or an irrelevant product or service, or may be failing to meet expectations. Regardless of the reason, customer retention issues ultimately led to dramatic drops in revenue.
Bill Scuorzo 