I strongly agree with almost all of this. I have failed for similar reasons, but I would put choosing good partners VERY high on that list. My view now is that I’d never enter into a partnership with anyone again other than my wife.
Tim’s views on HR and legal are spot on. These two fields combine to destroy companies, large and small. Once legal has a foot in the door the logical outcome is mind numbing drudgery. This serves only to keep HR busy as staff turn over at a rate that will kill your company and your own soul.
