The document discusses starting a new business and the challenges that often lead to failure. It notes that 90% of new businesses eventually fail, with common reasons including lack of experience, insufficient capital, poor location or inventory management, and personal use of business funds. However, the document also lists factors that can help lead to success, such as empowering leadership, a well-defined vision, a detailed business plan, and availability of financing. The overall message is that while starting a business can lead to either financial independence or ruin, learning from failures is an important part of achieving eventual success.

1. B.Tserenkhand
2014.10.30

3. If at first you don’t succeed, try and try again.
Failure is often a better teacher in life than
success. Because we go through so many
things in life, both good and bad, we have to
learn from our mistakes and hope we don’t
have to go through then again.

4. Starting a business can be the key to financial
independence, or the road to ruin. The
statistics for startup business are certainly
grim with some 90% of new business
eventually closing up their doors forever.

5. Lack of experience
Insufficient capital /money/
Poor location
Poor inventory management
Over –investment in fixed assets
Poor credit arrangement management
Personal use of business funds
Unexpected growth

6. Empowering leadership
Well defined vision
Revelant knowledge of business market
Detailed business plan
Assessment of the direct and indirect
competition
Availablity of financing
Solid customer relations management

7. Failure is the tuition you pay for
Success