Businesses are not started just to hire people, that is a byproduct of success. One and only reason to start a business is to make profit..
. Once a business is started, it then has to deal with the complexities of hiring the right people in order to fine tune the business.. This is in order to get the profits that it then strives for... One thing is for sure, and that is that the two must work together in a balance. Once the balance is broken, everything becomes fragil afterwards. Sometimes the writing will be written on the wall, but it is ignored due to arrogance and blinding greed.
You are yet again not really 'tuned into' the reality of starting/running/succeeding in any business.
The number one reason the VAST majority of small businesses fail is the people who start these small businesses don't have a ******* clue what they are doing. Simple as that.
It's not so much their "arrogance and blinding greed, although these can be contributing factors down the road.
They don't have the skills to actually hire good employees. When they realise they hired some ******* idiot or thief they don't have the balls to fire them. They don't know how to 'buy right'. Asians business owners all have a wade of cash in their pockets. In the case of restaurants every supplier knows if they make a delivery to a struggling restaurant who can't pay cash for those crates of clams all the supplier needs to do is call the nearest Asian restaurant: "Hi Mr, Lee. I have five boxes of fresh claims on a truck ten minutes from you. I'll sell them to you at twenty percent off for cash. OK the driver will be there in a few minutes". That's how a successful business is run. They do not understand the cut throat industry they are dealing with in most cases. They don't have the financial resources to back them up. They don't have a emotional support in most cases.
They are dummies. Period!
I invested in a used restaurant equipment supply business many years ago.
The business has made a profit every year for twenty five years.
Guess why?
Because every lawyer and dentist thinks they can intuitively open a successful restaurant because they are so ******* smart. NOT!
Aside: The only people who NEVER buy used restaurant equipment are who? Asians. They believe buying equipment from a failed restaurant is 'bad luck'.