Hoarders can come in all varieties, ranging from those who can never part with a single piece of clothing to the lady down the road with 20 cats roaming through her house. Some of the more common types of hoarders can be spotted by the contents of their homes, but there are still those who slip by unnoticed, including the business hoarder.
Unable to let go of any aspect of their businesses — even the unprofitable aspects — business hoarders hang on for dear life to even the most useless products, services and money-drains. Business hoarders are also less likely to succeed at growing a healthy and sustainable company.
Business hoarders might also try to grow too big, too fast by adding in as many products and utilizing every business service possible. Even when those things begin to steadily drag a business into the red, letting go can be too difficult and too painful for the business hoarder. When it comes to the 11th hour, there’s only one thing left to do…
Rip off the Band-Aid.
If hoarding unprofitable business practices and products has run a startup into the ground, there is nothing left to do but start unloading the dead weight as quickly as possible. The results likely will not be immediate, but slimming down and reworking the business model can give a company the boost it needs to eventually overcome the ill-effects of business-practice hoarding.