21: My first business failure
Not every idea we have is going to work out to be a great business. Not every business we start is going to turn out to be a success. But there is gold to be found in the bones of any dying or dead idea, that can be used to give you a massive head-start on the next opportunity. Continuing on the four-episode theme of “I was wrong,” I’m going to look now at another area where I am not afraid to own the fact that I was very wrong about a particular business idea that I sunk 6 months and some $51,000 of my own money in to, only to have it fail spectacularly.