There are two components to whether a business is successful, bottom-line-wise: high revenues and low expenses.
Most new entrepreneurs overestimate the amount of revenue that their business will generate during the startup phase, and similarly underestimate the amount of expenses that need to be paid. The “net” result is that the business does not create the financial returns anticipated. If you are a newbie, one of the things that you may find very helpful is to scrutinize carefully your first year budget for revenues and expenses. You may need the assistance of a mentor or other professional to review this with you. Sometimes having a professional who has experience in your business is extremely helpful, as he or she can look at your numbers and offer a realistic opinion. On the other hand, having a professional who is skilled at working with entrepreneurs, but knows nothing of your business, may be equally or more helpful, as this person can apply his or her skills to a new situation, affording you a fresh approach. This is kind of a bastardization of the Buddhist concept of “beginner’s mind,” which nevertheless can be useful in entrepreneurial analysis.