Top 10 Signs Your Biz is Going Up in Flames


Top 10 Signs You're Going Up In Flames

Owning your own business can be a wonderful and fulfilling endeavor. But, sometimes it’s risky and sometimes, businesses fail. So how do you know when your business is really going down in flames? Take heed of these Top 10 Signs . . .

Top 10 Signs You're Going Up In Flames #1

That $20,000 that you invested on inventory that turned out to be made of toxic, lead-filled plastic was a bad idea. Spending thousands more to paint the exterior of the shop neon orange in order to attract attention was a bad idea. And falling for the “real estate investment” scam? You can only get burned so many times . . .

Top 10 Signs You're Going Up In Flames #2

You were once the love of her life. Now, Kevin is the love of her life. And she wants a divorce. In a community property state? Should’ve set up that LLC when you had the chance, huh?

Top 10 Signs You're Going Up In Flames #3

One or two negative reviews isn’t going to kill you. But thirty? In a two-week period? Thanks to your crappy customer service and shoddy product, you’re going down.

Top 10 Signs You're Going Up In Flames #4

The “At Home Tattoo Removal Kit” was your best idea ever. But the guys from the FDA just left, and they weren’t happy. Who knew you needed to get approval for inventions that included laser technology?

Top 10 Signs You're Going Up In Flames #5

If your accountant just took a long-term trip to a foreign country where there’s no extradition, you might want to check the bank balances.

Top 10 Signs You're Going Up In Flames #6

The IRS isn’t kidding when they say you’d better have at least seven years of receipts to back up all those write-offs. Now you owe $350,000 in back taxes. Plus penalties.

Top 10 Signs You're Going Up In Flames #7

It’s not his fault that the woman at table number four shellacked her beehive hairdo with tons of hairspray, then leaned over the table at just the wrong moment. But now her beehive is nothing but wispy cinders and your restaurant has just been served with a lawsuit.

Top 10 Signs You're Going Up In Flames #8

Cousin Joe-Bob and Uncle Willy may be loving family members, but that doesn’t always mean they should be the ones on your sales floor talking to customers. Remember, each employee is an extension of your brand and you need to make sure that they reflect it in the way you want them too. P.S. Tell Joe-Bob not to drink on the job!

Top 10 Signs You're Going Up In Flames #9

Location, location, location. Running a business is hard, but what makes it harder is being the only tenant in a condemned strip mall. Sure, the neighborhood is going through a urban renewal process, but think about the short term. Can you afford to support you business until it becomes the next Brooklyn?

Top 10 Signs You're Going Up In Flames #10

As you helplessly watch from the sidewalk, there’s a booming explosion and the roof caves in, sending an even bigger black cloud of smoke skyward. Your business is actually on fire. Yup . . . your business is going down in flames. Did you prepare?

Nelson James

Nelson James is the chief operating officer of and is responsible for the day-to-day operations of the company. Prior to joining the team, Nelson was the president and co-founder of For over 6 years he helped to grow the company from 2 to over 85 employees. Nelson managed many large accounts during his tenure at, including In early 2011, Nelson was recruited to Lendio Inc., where he was VP of marketing and was responsible for the creation and management of a marketing team as well as the strategy, tactics and programs to create interest and demand for Lendio’s products and services. Prior to his work experience, Nelson graduated Cum Laude from Brigham Young University in marketing and advertising from the communications department. Nelson lives in Lehi, Utah with his wife and three children. He currently holds leadership positions in scouting and volunteers in his church and community.