If you listen to shock radio, you are probably aware of the "Celebrity Death Watch." In this sick and twisted contest, shock jocks and their crew place bets on which famous celebrity will die next. Well, like it or not, many people now do a "Business Death Watch" in their communities. Is your business on the list?

Here are some signs that it might be:

1. There is nothing unique about your business. You are just another "me too" concept that gives people no reason to switch to your business from their existing supplier. In my town, any time a diner opens that provides the same old sandwich and breakfast menu, we put it on the business death watch. In contrast, we visited a great candy store in Fort Myers Florida (Norman Love Chococates) this weekend. In a town known for generic chains, we found a place that had mastered the artistry of making fine confections. I have no idea why Norman Love chose to locate in Ft. Myers, but he has created an oasis of excellence and quality. His unique store -- including a great website -- is NOT on our business death watch.

2. You are in a saturated market. While Starbucks thought at one point that they could literally open stores on opposite corners of busy intersections, they eventually had to close down 600 stores. Every business has to avoid saturated markets. Why start another surgery center (or any other type of business) if there are 3 others located within a mile of you that aren't even filled?

3. Your fixed costs are very high. In my town, a Karaoke bar just leased a huge space. They are only open at night, and I can't imagine how much their lease costs. However, their parking lot remains empty and there is no way they are even covering rent. Watch out for high fixed costs....including not only rent but also employees, unproven marketing, and more. Be sure to test your idea to confirm demand and the ability to cover your costs before you put your life's savings into a new business!

4. You perceive marketing to be a a cost, not an investment. No business succeeds today without investing in smart marketing. Marketing must be your number one priority. The good news is that marketing doesn't need to be expensive. There are all sorts of low-cost, high-return ways to get visible to prospects. Plus, if you track where each and every prospect and customer comes from, you can make sure that you expand marketing that works while cutting back on marketing that doesn't.

5. You don't offer enough value to compel customers to return. A local bakery in our town recently went out of business. They had a great product, but their prices were ridiculously high. Customers came once, and didn't return. It wasn't worth it. Now the business is closed.

6. Your employees are unmotivated or poorly trained. We recently went to breakfast in the high rent district in our town. We sat down at a table -- and not a single member of the staff came to greet us, offer us a menu, or tell us they would be with us soon. We left after 10 minutes of being ignored. This was in a restaurant with about 5 tables filled, and 6-7 staff meandering around. I guarantee you that this restaurant will be out of business very soon, especially now that our slow summer season is upon us (we live in a highly seasonal winter tourist market).

7. You choose a lousy location (assuming you need a location at all). In Sarasota Florida, I can name five retail locations where businesses come and go every month or so. These locations just do not provide enough foot traffic. For instance, a restaurant location is located on a side street behind a bookstore. It is nearly impossible to find, and almost no cars or pedestrians pass by it. I've been living here for 7 years, and seens 5 businesses come and go in this same location. Doesn't anyone do due diligence anymore before leasing a space?

The above are only some criteria to get you on a business death watch in your community, but they are the most common.