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RE: Chronicles of a Failed Business (Why Businesses Fail In the First 5 Years)
The truth is not every entrepreneur understands the basics of being an entrepreneur. The attitude of spending money to do unnecessary things like renovation in the first 5 years of a business isn't a good one at all. A business should only start spending money to renovate and expand after the business has broken even.
The response to this is in my conclusion; Knowing everything about business is not necessary to start one, but it is necessary to start learning business tactics. The earlier entrepreneurs start to learn business practices the better the businesses grow.
Thanks for spending reasonable time on my post.