5 Warning Signs Your Business Could Go Bust

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Күн бұрын

Пікірлер: 26

@JoshuaWright-v2q 2 ай бұрын

I am looking into starting my own electrical contracting business based in Essex, I’m 30 years old. I’ve watched tons of your videos over the past week 😂

@wildnigels 2 ай бұрын

Even though I'm still in the startup stage, I am thinking like an SME thanks to these videos which in turn has really helped the business. Thanks for the videos and podcasts!

@CheckTesting1 2 ай бұрын

Just brilliant sir 🙏🏾 Hope that you & the family are all fine & well 😃 Will definitely be signing up for your newsletter 🤭 Have great afternoon 👊🏾

@lindomacedo7653 2 ай бұрын

Indeed...I am lucky that I get to attract talent and people likes to come into to my business to help me out, for free most of the times due to the nature of my business, but what I always fail to do is to keep them. Most often they leave. I do pay something every time we have a sale, but I can't commit to pay a salary, maybe that's what I haven't figured out what to do or how to do it, you know, we barely make rent and I don't even get paid myself. But now I must learn how to keep those talents by training myself and learn how to keep them.

@abidjafri1 2 ай бұрын

Thanks James - always a good refresher!

@olie2409 2 ай бұрын

Thanks, James Sinclair.

@chewy1814 2 ай бұрын

Im 64 and just started a business in a niche area. So far I have sunk 50K into it and still haven't been paid by the customers 4 months later. Run out of cash but still have another contract with one of the same customers that haven't paid. Do I not deal with them or do i go in the hope i get paid in the future.

@davidnorton5887 2 ай бұрын

When in a hole, stop digging.

@harkinsclark1417 2 ай бұрын

Scary stuff mate. Personally I spend as much time working on my debt collection pitch as I do my sales pitch. I have a meeting on Monday with a small company that owes me money and I'm going in soft with a strong close, I have prepared phrases like " I'm concerned that you are getting a reputation as a company who doesn't pay bills" and " how can I help you get out of this situation"

@darrenpeters1566 2 ай бұрын

Chewy1814 Consider passing these invoices to a factoring company. I don't think I can add a link here but google 'invoice factoring'. In essence the factoring company pays you typically 80% of the invoice upfront then some of the remainder when they get the full payment. Ie they make their money by taking a percentage of the invoice. But they are like an outsourced debt collection arm of your business. So, the question you have to ask yourself is whether it is worth dealing with this particular customer when you take into account the additional cost of the factoring company. This customer won't like it but they brought it on themselves and if you lose the next order you probably wouldn't have got paid anyway.

@davidnorton5887 2 ай бұрын

@@darrenpeters1566 Factoring companies have very strict credit checks, after all, why would they take a loss? His customers would probably fail the credit checks anyway.

@flippingcarsrepairs Ай бұрын

James weres that hotel video you brought for a pound of a Chinese company in sussex shelling village 😢

@johnbuckley1533 2 ай бұрын

Good morning from Aus, thank you James.

@JamesSinclairEntrepreneur 2 ай бұрын

Here he is!

@barandbeyond3763 2 ай бұрын

Sack that camera man at the end! Haha only joking. Glad you left that in tho it’s funny

@thenoodlebuddy 2 ай бұрын

I feel the need to send this to some CEOs of Plcs lol

@roathripper 2 ай бұрын

mood hoovers! 🤣

@AndreyDraganov 2 ай бұрын

Hi James, Great content, as always. We manufacture leather accessories in Bulgaria. I would like to offer a free batch of handmade leather products with your specifications and design. Looking forward to your reply. Thank you!

@lloydpennington10 2 ай бұрын

Contact me

@MichaelBrooksDr 2 ай бұрын

Typo: Contraints -> Constraints

@martinfarrow2825 2 ай бұрын

How about not raising money but saving up . How about running a debt free company.

@JamesSinclairEntrepreneur 2 ай бұрын

Depends on the sector. Try building a theme park or a hotel without raising any money. Not possible. Sure if you’re a swapping time for money industry in the service sector then maybe.

@martinfarrow2825 2 ай бұрын

kzbin.info/www/bejne/nKmWd5qPmauUrMUsi=ZXS00aUHAw9nFuMq maybe your right 🤷

@jacknakamori3280 2 ай бұрын

Yep, totally agree. Businesses build on future promises and debt are a well trodden path for bullshit merchants. That system is nearly over. Soon, only real value makers will succeed.