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January 02, 2012

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david k waltz

Lee,

Those are some very insightful and timeless lessons.

I am someone who does a lot of reading, and I have come across many of these in various forms, but I do not think ever in one place like this in a "Lessons Learned" format.

Note that I have cautioned against "forecasting paperclips" in the valuation process on Treasury Cafe -
https://treasurycafe.blogspot.com/2011/11/reverse-engineering-npv-part-one.html


Thanks!

Lee Crumbaugh

David, starting the publishing company and formulating the publication was wonderful, having it crash was not. It's taken me two decades to be able get enough distance and perspective from this event to write thoroughly and objectively about it. Thank you for seeing the value in the lessons. I should have had the value of your counsel back then!

Olle Palolahti

Not trying again is one of the very bad mistake of an entrepreneur in Finland country there rea many business are not giving and most of the time they think again a best solution for different kind of issue or mistakes they made.In fact i seen some market research that failed however in a little bit of them they got a best solution which is lead them to better one and trying and trying reminds me of patient is a great way to succeed.

Lee Crumbaugh

Olle, thank you for commenting.

I agree that perseverance is very important in establishing a new business. "Fail fast, fail forward" is a popular saying in entrepreneurial circles these days. It means, learn from your mistakes and move ahead. Often the idea needs refinement of re-targeting and then it will work. Good thinking!

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