Failure: it's a (not so wonderful) fact of life.
And if you're an entrepreneur, you're intimately familiar with it.
I should know. As CEO and Founder of Mom Corps, I've experienced as many "uh oh" as "ah ha" moments in business. Looking back at my career to this point, a few of the (ahem) more significant ones stand out:
Restructuring. When Mom Corps was still self-funded and in its infancy, I had a staff of six employees. Sales hadn't picked up yet, and there was just too much red on the balance sheet. After a major mental struggle, I made the tough call to restructure the company - firing several, reducing salaries for remaining employees and not paying myself at all. [Read more]