The conversation delves into the challenges faced by small businesses, particularly focusing on the high failure rate within the first year. It emphasizes the importance of careful planning and evaluation of physical locations before committing to a lease, highlighting the need for a solid business plan that aligns dreams with budget constraints.

Takeaways:

• 20% of small businesses fail within their first year of business.
• A large percentage of failures are brick and mortar businesses.
• Rushing into a lease can lead to failure.
• Evaluating the physical location is crucial.
• Physical location is a long-term commitment.
• It's important to marry the dream with the budget.
• A solid business plan is essential for success.
• Location evaluation should not be overlooked.
• Commitment to a location should be well thought out.
• Understanding the market is key to choosing a location.