Why new business fail in the early stages?

4 out of 5 new businesses fail the first year for several reasons first they started to big and borrowed too much money on a hope it will succeed. Next they started a business that they did not have a passion for, just something they thought might be a good idea. I have owned and operated my own companies for 35 years, starting at the age of 17 and became a self made millionaire by the age of 25. Both companies I had a passion for, started small and did not let anything stop me from succeeding. I retired at the age of 50 due to a motor-cross accident one of my sons was in that left him with permanent brain damage. I now devote my time to helping people start their own businesses as my way of paying back for his life. Read my bio if you wish, you might find it interesting.