What Happens After Failure on Main Street

Photograph by Daniel Acker/Bloomberg

Heidi Ganahl was planning her first business in 1994 when her husband of two years was killed in a plane crash. Grieving and “an emotional mess,” Ganahl took the $1 million insurance settlement from the accident and used it to start two businesses over the next six years. Both her startups—an infant bedding catalog and a money management advisory—failed. “I’m very entrepreneurial and visionary, but I got sidetracked,” says Ganahl, now 45, of Denver.

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