On Failure in Business
Dear Mr. Mishra,
From your letter I came to know that the factory you started for car accessories has suffered a decline. I think this should not dishearten you at all. ‘No loss no gain’ it is said. You would be able to analyse the cause of the failure for yourself and see how you can begin the factory on more improved standards.
I think you should make in a market survey for the goods you wish to manufacture. This will tell you where the lacunae lie. We must see that the consumers’ specifications are met and not what we imagine it to be. Do not worry, young man. May success crown you in the future.