My first business I`d like to tell about our restaurant that we(I and my friend) opened some years ago. It was in the edge of Moscow. We decided to call it as "Manhattan". We spent a lot of money for that restaurant and we hoped that we'd be able to profit from that. But it wasn't simply. The salaries of employees, rent a building and so on... As a result we closed our restaurant. I've picked out 4 reasons why our business failed and we lost a lot of money. 1. The lack of experience. The first mistake was that we weren't be ready to that business. We had neither experience nor knowledge. I guess if you are going to open business, at first you must learn theory and if it is possible to practice a lot. 2. The lack of time The second mistake was hurry. Before to open business you must analyze everything. Unfortunately we had no time... 3. The wrong promotion The third mistake was ignorance of marketing. The posters of our restaurants appeared after month of opening of the restaurant. It was very absurdly. Then we made the public on social network, but we made it unprofessionally. We also could do advertising actions and different bonuses, but we didn't do anything of those. 4. The extension of business despite the material losses. The fourth mistake was the hope to success after long time. I think we had to close our business after the second month. Though we bought a lot of things for “Manhattan”, there are few clients. And it makes no sense to continue that business. That's all. The main reasons why we couldn't earn money on that. The more you have mistakes, the more you have experience, so I think we've learned many things.