35: Business Failure
The How of Business - How to start, run, grow and exit a small business.
Henry Lopez, Levante Business Group
4.7 • 522 Ratings
🗓️ 29 August 2016
⏱️ 53 minutes
🧾️ Download transcript
Summary
Small business failure shared and dissected. Henry & David discuss their recent business failure and closing of one of their restaurant locations. They share the emotional aspects of this failure as entrepreneurs, and lessons learned – what they missed, what they considered in deciding to close the location, and what they will do differently in future small business ventures. As a small business owner you must plan to succeed but be prepared for failure – it's how to you respond to inevitable failures that determines your ultimate success as an entrepreneur.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run and grow your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com
Transcript
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| 0:00.0 | Welcome to the How of Business with David Begin and Henry Lopez, the podcast that offers practical advice and tips on how to run and grow your small business. |
| 0:10.3 | The How of Business helps aspiring entrepreneurs and small business owners achieve their definition of success and overcome challenges that get in their way. |
| 0:18.6 | This podcast series focuses on the everyday common business issues, |
| 0:22.6 | challenges, and opportunities that face the small business owner. So here now are your hosts of |
| 0:27.7 | the how of business, David and Henry. Welcome to this episode of the how of business. This is |
| 0:36.3 | Henry Lopez and David Begin. |
| 0:39.2 | David's with me here today. |
| 0:40.7 | That's amazing. |
| 0:41.5 | Yeah, we were talking a while. |
| 0:42.6 | You've been a busy little beaver on the other side of the podcasting world. |
| 0:45.9 | Right. |
| 0:46.3 | Our listeners might be thinking, what do you mean? |
| 0:48.3 | Because we've scheduled out the episodes such that we have released a couple of episodes here recently where you and I have both been on. |
| 0:55.4 | But what the listeners don't know is we recorded those quite some time ago. |
| 0:59.9 | And I've been busy recording lots of interviews by myself. |
| 1:03.0 | So this is the first recording that we've done together in quite some time. |
| 1:08.0 | So yeah, yeah, we've got to catch up at summertime right now. |
| 1:11.9 | Henry is about to send his daughter off to college. So he's going to be an emotional basket case here in a few weeks. |
| 1:17.2 | That's right. So between that and the topic of this episode, I may need some support. |
| 1:22.4 | Might need some record this episode. Might need some therapy. But it's good. This is going to be a good |
| 1:26.5 | discussion. I think it's one we're all afraid of, but it's something, if you're going to go out in the world and |
| 1:33.3 | make some endeavors, you've got to be aware of it and think about it. That's right. So what are we |
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