* No cash to grow. Cash seems to be the biggest issue, by far. The parallel can be drawn with the economic state of our country. We're building up more and more debt, which we know is going to cost us higher interest rates. However, the only way we feel like we can grow is to make investments in our people and our infrastructure – and no one is willing to go deeper into debt to do that.
* No ideas on how to expand. You seem to have run into a wall in terms of how to grow. You're used to growing organically by purchasing new equipment, or you may have grown your business by finding new customers. Your current market may be saturated, however, so now you're stuck.
* No clue of how to achieve the growth strategies used by bigger companies. You're a small company with a relatively tight operating budget. You've read about all types of different growth plans used by bigger companies, such as strategic acquisitions, but you don't know how or don't think you can put the resource team together to pull one off. You have to believe in your vision, and get your team to believe it.
* No more passion for the industry. Let's face it, the printing industry has undergone seismic changes in the last decade. The conversion to digital has left many traditional printers out in the cold. The printing landscape is filled with mom and pop shops, with revenues under $1 million. For these owners, trying to keep up with a frenetically changing industry is no fun anymore.
* No one is willing to step in and take the reins. If you're an independent business owner, you may have family members you'd like to step in and take over the business. However, your children could be scared off at the prospect of running the family business. In many cases, business owners and their children don't understand that there are multiple options for succession, and they don't all follow the same path as mom and dad.
Sounds like no way out except liquidation, right? In truth, there are ways to avoid liquidation. For example, you can reignite your passion for the business by learning a new niche from a new strategic partner. Or, you could infuse cash to your business through a strategic merger and acquisition.
The options are many. The key is to start researching different ideas. Reach out – there's a world of different opportunities waiting for you.
Five Poor Reasons Why Printing Companies Choose Liquidation
Times are tough, no doubt about it. But are they so tough that you should choose liquidation? Here are five reasons why many printers believe the answer is yes.