I think most small businesses fail because they’re overcapitalized. I think it’s the worst myth of small businesses. When I opened this bookstore, I did it on what I could afford. I opened it, subletting an old children’s clothing store that was a fraction of the size it is now. I think businesses ruin themselves by overspending — they have to have the nicest furniture, etc. When I opened, I intended it to be the best it could on the resources I had available.
Nach Waxman Owner Kitchen Arts & Letters New York