Will your business survive on just social media

The all day dim sum caught my eye of the new restaurant in my neighborhood. Our server happened to be the owner. I was surprised they had been open 6 months. I asked what he is doing in the way of advertising. He shared the disappointment of his mailers and discount calendar. But he was excited about the social media expert he hired to create a facebook page. The only thing that facebook page will do is chronicle his demise. Social media is not advertising.