Challenges and Strategies for Small Businesses

The video discusses the challenges faced by small businesses, focusing on Straw Motors, a family-owned GM dealership in Keyport, New Jersey. Despite the rise in GM sales, Straw Motors struggles financially, risking closure. Grant Cardone aims to help the business by identifying issues and providing solutions. The video highlights the importance of community needs and employee loyalty in sustaining a business.

What is a major challenge faced by small businesses in America according to the video?

• Financial instability

• Lack of innovation

• High employee turnover

• Excessive competition

What is Keyport, New Jersey, known for?

• Historical landmarks

• Its large population

• Scenic seaside views

• Being a tech hub

How long has Straw Motors been in business?

• 50 years

• 75 years

• 64 years

• 30 years

What was a significant impact of the GM bankruptcy proceedings on dealerships?

• New partnerships

• Expansion opportunities

• Immediate closures

• Increased sales

How did the family at Straw Motors manage to keep their business running during tough times?

• By reducing employee salaries

• By closing some branches

• By increasing car prices

• By using personal savings

What percentage of Keyport residents commute by themselves?

• 80%

• 76%

• 60%

• 50%

Despite GM sales being up, what issue is Straw Motors facing?

• High employee turnover

• Lack of inventory

• Poor customer service

• Low vehicle sales

What is the critical time frame for the brothers to turn their business around?

• Two years

• A year

• A few months

• A few weeks

What is the potential consequence if the brothers do not implement changes?

• Business expansion

• Increased profits

• New partnerships

• Business closure

What is the main focus of Grant Cardone in the video?

• To promote new products

• To invest in new ventures

• To expand his own business

• To help struggling businesses