RE: WHY DO BUSINESSES FAIL?
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Entrepreneurship is the word these days but it sure takes a log to hard work - you are spot on with that
We ran a cafe for a couple of years and as much as you take pride when you get good reviews, the work that goes into it can be crazy... especially the first few years.
And this is where we learnt the hard way - location location location ;D
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When I tell people I don't think I want to start a business, they don't understand why but businesses are hard and it needs a lot of effort.
These days being an entrepreneur is sexy
Until you become one I guess (for some) ;p
It isn't sexy for me at all, I always tell people I prefer a 9-5 or freelancing, a business isn't appealing to me.