Join Derek Dall’Olmo and Melissa Niedzielski on the latest episode of the Traversing Entrepreneurship podcast as they delve into the reasons why businesses fail and provide practical advice to avoid common pitfalls. Discover the importance of market research, self-management, and leadership, as well as the benefits of having a solid business plan in place. They also explore the notion that starting a business doesn’t necessarily require a pile of cash, as there are numerous businesses that can be started with little to no capital.
Join our hosts as they discuss the interplay between brains and effort, emphasizing that starting a business requires both in order to be successful. Don’t miss out on this informative and insightful episode!
“Starting a business can be an exciting and rewarding endeavor, but it’s important to be aware of the common pitfalls that can lead to failure.” – Melissa Niedzielski
This week on Traversing Entrepreneurship
- The most common reason businesses fail. 0:00
- There’s never a vacuum of competition. 2:03
- What does it mean to have a business plan? 3:48
- How to get started with your business. 6:14
- The importance of mentoring your employees along the way. 8:01
- Do the right thing and it’s going to pay off. 10:03
- How restaurants have had to adapt to the changes in the industry. 11:57
- How do you differentiate yourself from your competition? 14:09
- The key points of owning and operating a successful business. 15:46
Our Favorite Quotes
“Lack of market research is brains and effort, you have to put in the work to understand what your competition is and what you’re doing differently.” – Derek Dall’Olmo
“If you’re starting a business and you have an idea, there’s already somebody else out there that knows your business and your customers, because they’re already in the business more than you do.” – Derek Dall’Olmo
“Everybody thinks that you need a pile of cash to start a business, that’s not true.” – Derek Dall’Olmo
About TreMonte and Traversing Entrepreneurship Podcast
Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, co-hosts Derek Dall’Olmo and Melissa Niedzielski sit down with local business owners and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.
Derek and Melissa work together at TreMonte Financial Consultants, LLC and TreMonte TreMonte Tax Solutions, LLC (together referred to as “TreMonte”). TreMonte works with business owners and entrepreneurs to develop a proactive tax strategy that maximizes after-tax profits. It is TreMonte’s goal to bridge the gap between Financial Advisors and Accountants by serving as CFO to their clients.
This show is for informational purposes only and should not be viewed as personalized financial, investment, tax, or legal advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.
Please email Derek Dall’Olmo at derek@tremontefinancial.com with questions and comments or to schedule a one-on-one conversation.
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