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When My Business Failed - Dan Pallotta - Harvard Business Review


Stashed in: Business Advice, Trust, HBR, Inception!

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Ten years later, I have recovered. I managed to keep my home by working with our bank to sell some of the assets of the company and by agreeing to help them get recovery via the lawsuit against Avon, which they did. I have three beautiful children who weren't here ten years ago — triplets, actually — with Jimmy, my incredible partner of twelve years. I learned who my real friends were and are, and developed a much more realistic and mature definition of friendship. I have a less sophomoric approach to trust. Don't offer it freely, unless you're prepared for the consequences. I've learned that people will take what they want, regardless of their word, if the temptation becomes great enough. And they will concoct all manner of rationalization to justify it. I've learned that the adage about innovation is true — that at first, people say your idea is absurd, then they say it was obvious all along, and then they say it was their idea to begin with. I've learned never, ever to sign a personal guarantee, unless you can afford to lose the entire amount.

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Takes a lot to learn that. Once you've learned, you'll never forget.

I love this line: "First, people say your idea is absurd, then they say it was obvious all along, and then they say it was their idea to begin with..."

My (female) faculty advisor used to share that sentiment when I asked her what it was like to be a woman in academia administration...

And pretty much having people claim your ideas as theirs means that you've made it.

Inception is reality.

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