This is a very informative story. I'd like to give it a summarization so that the rest of us would not go into the same trouble. 1. Keep a very keen eye on you

This is a very informative story. I'd like to give it a summarization so that the rest of us would not go into the same trouble. 1. Keep a very keen eye on your customers and selling. Mr. Baumeister sold high-end products. With economic downturn, fewer people spend money on luxueries. He should predict that when economic was going down. 2. Pay constant attention to cash flow and balance statement. 3. As a startup, don't outsource critical component. If you have to, always double check it. Seems the incompetent accounting firm played a significant role in failure of his business.