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Mistakes Millionaires Make - Book Summary

Entrepreneur and author Harry Clark’s look at millionaires’ financial ups and downs is a pleasure to read, and his candid recollections and advice are fascinating, even when given anonymously. They highlight a neglected subject: experiencing business failure. Stories of success are easy to come by, but Clark’s treatment of mistakes proves far more compelling and informative. Some of the stories and experiences recount the 2008 crisis, and some relate to the real estate bust that pulled down many millionaires. Clark’s presentation of the habitual nature of entrepreneurs and their weaknesses provides a tableau of memorable advice. You’ll hear echoes of the old saying, “A lesson bought is a lesson taught.” While never giving financial advice, getAbstract recommends these tales of learning the hard way to entrepreneurs, investors and students.

In this summary, you will learn:

  • How a variety of entrepreneurs have failed and how some have bounced back,
  • How to prepare for tough economic times and unavoidable “wild card events,” and
  • How to recover from financial failure.

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