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Thursday, March 26, 2009

Sign of the times

Tarek Tay, one of the owners of Zaya, is featured in an MSNBC article about stress among small business owners who are struggling to stay afloat these days:

In the economic tailspin of the late 2000s, loss is part of life. Workers are losing their jobs, employers are losing their businesses, and as credit becomes more and more scarce, everyone is losing confidence. What's more, entrepreneurs are grappling with a sense that they've lost control of critical factors that could determine their futures. Those psychological hurdles are perhaps the biggest challenges facing today's business owners; after all, it was probably that shining confidence and ability to innovate that got you started in the first place, right?

"So much of it has nothing to do with you," says Tarek Tay, 36, co-owner and managing partner of Atlanta's Zaya Restaurant, which launched strong in February 2008, boomed through the summer--and then saw business drop 30 percent in September. Although well-reviewed, it has operated in the red since, even with $1.2 million in 2008 sales. "If your food isn't good, you can improve the quality," he says. "If service is the problem, you can train your staff. But if the problem is that no one's going out to eat because of the economy, what can you do?"

The article is a good read for any small business owner trying to stay afloat.

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