Is Your Job Secure or Are They in Financial Trouble?
In this day and age, most companies are struggling. So how do you know if your company is secure or in financial trouble?
11 Signs of a Company in Financial Trouble
There are definite signs of when a company is really in financial trouble. Most employees choose to ignore the signs, but you need to realize that your future could be in jeopardy. Here are 10 signs of financial hardship:
1. Vendors complain – There are phone calls from the vendors complaining about missing payments or late payments. These are usually more than just one month. Vendors start to call when there are several months of missed payments or if there is a history of consistently late payments.
2. Upper Management Disappears – If upper management starts to avoid people, become isolated, or refuse to discuss any major decisions that they are making, this is a bad sign.
3. Long term employees are nervous – If you are noticing that the people, who have been there for many years are starting to sense that something is wrong, are acting nervous, or are very distracted this is another bad sign.
4. Eviction notices – Of course the obvious, if there is an eviction notice posted on the front door, your company has not paid the rent for several months.
5. Accounting Department – If it is tough to get a straight answer it might be because the CFO or accounting people cannot get the correct numbers from the executives to produce sound financials.
6. Incoming Calls – Who are the calls from? Are they from customers, prospects or vendors? If the answer is vendors, then a red flag should go up.
7. Paycheck – Are you getting paid on time? Has your paycheck bounced? Has your insurance been paid or was there a lapse in coverage? A company that is not struggling would never let this happen.
8. Office Supplies – Are office supplies being cut? Are they downgrading on the quality from what they used to purchase? Now this might sound funny, but even consider the toilet paper. Was it 2 ply and now it’s one ply?
9. Travel Expenses – Are business trips on the decline? Are hotels you are staying in no longer of the same quality? Are business trips being cancelled over and over again. This is another sign of financial trouble with the company.
10. Boss’ car – Has your boss downgraded his Mercedes or BMW for a Honda or Toyota?
11. Instincts – What does your gut tell you? Do you feel that something is wrong? Your gut never lies to you. This is something that most people forget to do and that is to listen to what their gut is telling them. They start to make excuses or say that is just silly. Well, probably it is not! Your gut is your inner voice that is warning you, start to listen!
We all Need a Plan B
The best advice that I can offer to you is to remember that you are not married to your job. Your boss has no loyalty to their employees; they are more loyal to their investors. There is nothing wrong in trying to protect your family’s financial health. The only loyalty now a day is to your family. So what is the answer?
Everyone should have a Plan B because you never know. Your Plan B could be a part-time business to bring in extra money to help you just in case you get or are strapped for money.
Extra money can help you with:
- A mortgage payment
- A car payment
- Holiday spending
- Home repairs or home improvements
- Earn a full time income on a part time basis, thus replacing your full time job!
Can everyone be an entrepreneur? No, but you will never know if you can unless you try. To have a Plan B home based business you have to have the desire. This isn’t inherited, this comes from inside you. Some people would rather watch other people make extra money while other people are doers and doing something about their financial trouble.
Check out my articles on How to Make Money Online so that you can get some ideas as to what to look for.
This should give you a great start to your Plan B success. If you would like to work with me, fill out the contact form and I’ll get back to you as soon as possible.
Let’s enjoy success together!
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