No business owner starts out with any thought of closing his business. The dirty little secret in business is that every company has a life span, no matter what size or format. Products change. Customer needs evolve. Life moves on. Owners need to stay close to shifting conditions and be ready to make tough decisions.
In this episode, we chat with Beth Cook, former owner of B Larue gift shop. She’s built her retail shops from the ground up, determining format and sourcing all merchandise. She even transitioned her last store to carrying all American-made merchandise, a ground-breaking decision in the industry. After a twenty-year love affair with retail, she recently decided it was over — at least the prospect of owning her own store.
She shares her journey in making that tough decision to close her business but she also gives us some wisdom that applies to any business. No matter what kind of business you own, you’ll love her honesty and how she’s set her sights on the next unknown chapter in her life. She’s locked one door for the final time and is preparing to walk through a new one. Join us as she reflects on what she has learned and the factors that she considered in making the decision.
You can follow us on Twitter at @businessengaged and we love it when you tell others about the show.