There is no simple answer to this. It depends on various factors. The TYPE of business matters. There is also a question of moving from planning into operational phases to consider. The answer might be different for a retail store vs restaurant vs factory vs a service business vs professional offices vs a commercial warehouse vs something I haven't thought to mention. I don't think that the money spent up-front just to get started (the initial investment) could be considered as "losses" in the absence of a mechanism in place to generate any "revenues". This topic is worth exploring further.