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3 April, 17:39

An entrepreneur's first business fails, but their second attempt at the business is succeeding. You can assume that

they learned from their mistakes.

they are willing to take fewer risks.

their products or services were unneeded.

they were unwilling to take financial responsibility.

Answers (2)
  1. 3 April, 17:45
    They learned from their mistakes.


    Business world is full of risks, rewards and uncertainties. And the entrepreneurs that are exceeding in business are those who have learned how to manage those risks, rewards and uncertainties. For an entrepreneur in his first business, the chances of making mistakes and failing are high because he does not have the knowledge of how to manage those risks and rewards. He is an alien in the new world he finds himself and will have to make a lot of mistakes in order to learn. And that is the reason why most entrepreneurs fail at their first businesses.

    Now when the first business fails and the entrepreneur is now succeeding in the second business, it can be safely assume that he has learned from his mistakes in the first business. This assumption has a strong foundation because succeeding in business is about having relevant knowledge to execute well.

    Option of willing to take fewer risks is not strongly relevant to the entrepreneur succeeding at second attempt.

    Options of their products or services were needed and they were unwilling to take financial responsibility are wrong because they are factor contributing to failure of a business, rather its success.
  2. 3 April, 19:06
    Its A) They learn from their mistakes
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