Tuesday, August 30, 2016

Small Business Failure - What did we learn?

We believe that you plan to succeed but must be prepared to fail. When business failure happens, however, you are never truly and completely prepared for it.

What keeps most of us from becoming our own boss to begin with, and the thing we obviously work the hardest at to avoid as a small business owner, is failure. Having to close a business for financial reasons. 

We recently made the painful decision to close one of our restaurant locations. This particular location never achieved the success we enjoyed with the first location of this business concept. And after five years, we decided not to re-new the lease and closed the location permanently.

In this episode of the How of Business podcast, we share this experience and highlight the challenges and lessons we learned through the process.


[Listen on iTunes[Listen on Stitcher]

 

No comments:

Post a Comment