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February 24, 2008
  • MailPost

    Dimitri Snowden


The idea:  To open a retail shipping store that offered design services.

The gem:  I was able to successfully open two of these stores.

The lemon:  I was self funded (no investors) and I didn’t entertain a full fiscal cycle on the first store before I opened the second.

The result: I ran out of money and closed them both.

Lesson learned: Build detailed financial models with contingency and exit strategies.  Be patient!