Hey, welcome to the $100 M. B. A show,

we serve practical business lessons on a silver platter.

I'm your host, your coach, your teacher, Omar Zen Home.

And today we're tackling a topic that hits home for many entrepreneurs. How to not go out of business. This episode

is all about keeping your business alive and thriving, even in the toughest times.

I wanted to do this episode because it seems like a lot of businesses,

even just in my local area where I live, are going out of business.

Businesses that have been around for decades. The

yoga studio that Nicole goes to on a regular basis just went through liquidation

a year ago. This is when a business can't pay its bills anymore. They're just not making enough money and there's no way possible for them to pay their debts.

It's like a fire sale and a state of bankruptcy.

The scraps get eaten up or bought by a new buyer, but many times the reputation

of the business never recovers. So in today's episode, I'm going to share with you eight tips,

eight things to keep in mind so that you do not go out of business. The name of a game in business, in life, in any career, is to stay alive, to keep on growing and not die.

So let's make sure of that.

Let's get into it.

Let's get down to business.

I want to start with a dose of reality.

One of the biggest mistakes entrepreneurs make is thinking they're

invincible, thinking that going out of business won't happen to them, that it

can't happen to them. When you think this way, you think all this will never happen to me, I'm

savvy, I'm smart, I work hard. When you think this way, you are unprepared because you're

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