10 Reasons You Should Consider Auctioning Your Assets
1. When the bills come in faster than you can pay them, such as rent, salaries, vendor invoices, electric, miscellaneous
2. Inadequate finances, not having the cash flow and running the bank account dry
3. Change in the market during and after the Covid Pandemic, not having the same customer base as prior Covid
4. Cash is King and many businesses quickly find that borrowing money from lenders can be difficult
5. Failure to anticipate or react to competition, marketplace and even technology can lead a business into the red and not profitable
6. Poor management is a big part of the business. If management falls short of employee procedures and good customer attention, this can hurt your customers returning for your product or services
7. No customer strategy. Be aware of how customers influence your business and Not knowing what they like or dislike about you, could lead to less customer base that will play a big role in the development of your business.
8. Rent and cost of doing business going up can also have a big impact on your net profit. This leads to less profits for the owner causing short falls all around.
9. When the cost of running the business out weighs the monthly profits and you end up taking money from Peter to pay Paul
10. And final reason is dreading to go into your business grinding and falling deeper into debt