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YES
Actually not. There are some examples for that.
definitely your business might collapse very soon because new businesses always helps firms expand and also increases the profit margin
eventually, YES.
We cannot just rely on our existing customers. Competitors might just be around the corners and will soon attract your existing customers. In business world, we must adopt change, innovate and competitive in the market to gain profit. Profit is the very essence of having a business.
For sure, YES.
One of the reasons is that NO company has a100% customer retention percentage. Existing customers may leave you or stop needing your products which will lead to loss in revenue.
Every business is very sensitive to development of customer data base. Business continuity depends directly on adding new customers.
Yes, this is a disaster for a company, Not being able to attract new customers, means that your business is not competitive.
If you are not competitive, this will lead you to loose your customers soon or later.
Yes it will be in big disaster especially if your competitors catch from you the biggest customer or most of them you have to secure your business by alternatives ....
Yes it's a matter of time. Obviously the business is not competing in what so ever in the market.
The new customers are going to a different comparators and the existing customers are decreasing due to the same reason and other reasons as well such as relocating and more.
Both "Yes" &"No" -
Why "NO"? :-
It depends on type of products you deal with or Industry you are referring to.
The main component's of success for an company is 'Horizontal & Vertical Growth'. If it is happening but your customer base is not increasing than there are chances you are either dealing in 'Niche Market Segment' or 'Bottle Neck Entry Barrier Industry'. (OR)
Market is over matured thus has huge competitor's selling Identical products thus, getting new customer's is hard not only for your company but for everyone. The best is to continue to service existing customer base & find ways of selling other products which the existing customer's are buying from other places thus increasing dependability thus building an Network of "Loyal Customer base". (OR)
WHY "YES"?
If the Market is also growing by increased flow of customer's but 'You are not growing in terms of 'Tapping New customer's' than there is a problem.
It could be that new customer's are not finding what they are seeking thus not attracted towards your company.
The risk is existing customer's too may start getting interesting deals outside thus eroding your existing base thus eventually if drastic steps are not taken then surely 'It's an Nose dive' & leading towards 'Risk of Collapse' or 'Disaster'.
Thus, company if falls in this situation should adopt based on the changes in the business environment & engage with the prospective customer's & attract them towards your products.
That's why leaders say, there is nothing constant in the world except one thing "CHANGE".
As a company or as a person we should adopt it thus to be competitive & withstand challenges & overcome our objectives. :-)
