Business coaching, English

10 reasons to close your business

15. decembra 2022.

1. The business stagnates, the company does not make a profit, you operate at a loss, debts are piling up; and the banks and the tax office calculate tax and tax on tax and additional contributions (often written at the bottom of the page in fine print – most of us don’t notice them until it’s too late).

2. You are not satisfied with your work. You are tired, you can barely get to the office, conversations with clients make you nervous, you are under stress…

3. Health reasons: as a result of stress and chronic burnout, you developed psychosomatic illnesses; stomach pain, stomach acid, indigestion, heart palpitations, sleep disorders or even worse – depression, anxiety, heart problems… Choose between health or work; and change before it’s too late (and for many it was too late – I speak from experiences).

4. The situation has changed: there has been a major economic crisis, an epidemic, inflation, natural disasters (floods, earthquakes, fires).

5. Due to the emerging crisis, the state is introducing new measures, increasing levies, duties, contributions and taxes. Put income and expenses on paper: in some countries, private individuals do business half-half with the state (and the state is their partner in business, and that’s what they jokingly call it). In times of crisis, state levies in some countries reached 95% of profits (I speak from personal experience). Close before it’s too late; for the next 5-10 years you will be working to pay off your debts.

6. The product is no longer commercially interesting… It happens. The world rests on the young – and young people are creative; and curious; and full of energy and new ideas; and follow trends; and they are carried away; and buy impulsively; and they don’t think about quality and health – they follow fashion and will follow the first ‚‚cool‚‚ influencer forgetting about your product. Fit into the trends or change your activity / close your company.

7. Moral principles: fitting into trends means deviating from moral principles, reducing criteria, losing quality, damaging reputation.

8. Business partners are dishonest: you noticed that they work behind your back, money disappears, deals are made without you, bypassing you, colluding secretly and putting you in front of a fait accompli.

9. A partner in the business involved you in a court process by acting dishonestly. Court processes last – usually for years, and sometimes for a whole decade. Apart from being durable, they also cost money. Put it on the scale: is such a process worth it to you – and not only in terms of money, but also in terms of health, nerves and time. Let go of Ego and the question of who will win – in the end, everyone loses. Take care of yourself, your health, your family, your finances and the time you have available; do you want to spend it in productive work or carrying documents, visiting law offices and courts while paying enormous sums of money at the same time.

10. You are at a turning point in your life: you have decided to start a family / start living a more peaceful life. Finally, you want fixed working hours, a fixed salary and a clearly defined vacation. Yes, it is true, most private individuals do not have working hours, they also work on an annual basis, they do not separate themselves from their mobile phone and computer, they work for the state and for taxes, they are under constant stress and for all this they are only sometimes well paid… In most cases, finances vary and their future is uncertain.

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