21 Hats Podcast ‘America Sucks at Small Business’
9 snips
Jun 17, 2025 Dan Carmody, the former CEO of Detroit's Eastern Market, sheds light on small business dynamics in the U.S. vs. abroad. He argues that America falls short in supporting local enterprises, drawing lessons from international practices. The conversation touches on community engagement and the vital role of social media strategies for businesses. Carmody also discusses the emotional journey of entrepreneurs and shares insights on revitalizing local areas through hospitality and ethical practices, advocating for a stronger support system for small businesses.
AI Snips
Chapters
Books
Transcript
Episode notes
Starting Six Bars Successfully
- Dan Carmody and his brother bought a building with inheritance money and opened six bars over eight years.
- Five did well because of creative hospitality and local market understanding, but one failed due to timing and size.
Downtowns Damaged by Design
- Americans have severely damaged their downtowns, more than any other country.
- Urban design and car dependency favor large enterprises over small businesses, reducing vitality.
Refinancing a Misunderstood Small Business
- Dan helped refinance the Circa 21 Dinner Theater despite bank resistance due to misunderstanding small business cash flow.
- Large corporations and banks often misunderstand the realities of small business operations.