Summary: Making The Best Of A Bad Situation… This week’s topic is one that every entrepreneur dreads. What do you do when a product launch doesn’t live up to expectations, or straight-up fails? To delve in to the dark side of small business, Tim is joined by guest co-host and Foolish regular Lain Ehmann. Lain had been surprised by a poor turn out to an otherwise well-organized event with lots of initial interest, which got her thinking. How can we prevent, or best react to our products bombing? Listen in to this week’s episode as Tim and Lain dissect the nature of failure and how you can best overcome it. Failure Teaches Success… Determining the problem – the marketing or the product? Receiving and dealing with valuable feedback. Avoiding the wrong customers. Price anchoring and the perception of cost. Failure is relative…
