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4 Signs That Your Business Has Bitten off More Than It Can Chew

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Have you ever asked yourself “why did I take on this extra work?” in the past? Perhaps you worked as a freelancer and tried to get as much work as possible to make up for quiet periods, or maybe you decided to start a business despite having absolutely no experience in the industry that you chose.

It’s common to get greedy and bite off more than you can chew. However, it’s uncommon to be able to identify this on your own until it’s too late. Let’s dive into four signs that show you’ve bitten off more than you could chew.

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  1. Pushing staff into overtime more often

If you’re constantly pushing your staff to do more overtime, then there’s a good chance that you’ve bitten off far more than you can chew. Perhaps you’re pushing your staff to complete a project that you set an early deadline for, or maybe you’ve simply got too few staff to handle all the work you have. It’s important to give your staff breaks. They are human, after all, and they can’t be exposed to working long hours for several days in a row because they will be mentally fatigued.

  1. Your business is barely running and doesn’t have capital to grow

Is your business on its last legs? Are you finding it difficult to make any profit from your sales? Then there’s a good chance that you’ve tipped the balance and can no longer create profits from your business. If you’re not losing more or gaining money, then you need to start making changes to your business to make it profitable once again. If you find your profits are dropping rapidly because you hired too many new staff members, then you need to start firing unneeded staff to start making a profit again.

  1. New projects are forcing you to hire more staff

Speaking of hiring more staff, there’s a good chance that you’ve taken on a project so large that you’ve been forced to hire more staff and services. Hiring more staff is necessary to take on larger projects, but if you’re finding it hard to pay for specialist services, then there’s a good chance you’ve taken your business too far and can no longer return.

It helps to search for external services before you decide to grow your business. A good example would be this company, CL Smith, that is capable of packing materials that are considered hazardous. Whether it’s washing detergent or paint that you sell, those hazardous materials need specialized containers for storage, and it takes a bit of money and research to prepare this without slowing down your company.

  1. The quality of your products or services are dropping

Lastly, the most obvious sign that your business is being swamped is if your quality starts dropping. Once your customers start to make comments that your products are getting worse, it can quickly spiral out of control unless you reinforce quality control measures to regain the trust of your audience.

 

 

 

Can we help you manage your work overload? Get in touch with us for a free consultation!

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