I think this underscores the need to have smart advisors. I could see myself making similar mistakes; to avoid them, consult people who have done stuff similar to what you're trying to do. It seems most of these issues could have been prevented if the author had consulted folks in his MBA network and gotten their advice on what he should do in his business, on pricing, on setting expectations for how hard it is to launch a successful product like this, on importing, and on general advice. Who knows--he might even have gotten a smart business partner to help him sort through these tough issues.