I have often wondered about this, and about the correlated question by Mr. Muffinburg.
If a new company enjoys tremendous profits for two or three years, and then sees declining opportunities and rentability, owing to product obsolescence or competition, the correct decision might be to close shop. Is this failure? In a statistical sense, perhaps, but the entrepreneur might be very rich, very happy at the operation and ready to take on a new challenge.
For comparison, look at how any government programs fail. (Hint: it’s over 99%)
Having read part of Warren Buffett’s book on investment mentality, I see nothing more than uncommon sense in how he made his money. It’s easy to get ahead when most people are so ignorant. The stock market is unlike most other means of earning. It’s not simply about who you know and image. You can take knowledge straight to the bank.
Having read part of Warren Buffett’s book on investment mentality, I see nothing more than uncommon sense in how he made his money. It’s easy to get ahead when most people are so ignorant. The stock market is unlike most other means of earning. It’s not simply about who you know and image. You can take knowledge straight to the bank.
He`s not telling it like it is.
I’m sure a lot of these failures are people that created a corporation / LLC with the intention of starting a business, but never get around to it for various reasons. When that LLC expires that is a failed business.
What makes you say that? I say he tells it exactly like it is.
I dont agree with him when he talks about ``consumerism``. Thats the only problem I have with him.
I’m talking about his financial skills, not his politics.
This whole conversation and statistics are pointless without first defining what “starting a business” even means.