03/31/2011 09:26 am ET Updated May 31, 2011

Yes, Even Apple Screws Up Sometimes

When you are in business, mistakes will happen. Given that, one of your jobs is to make sure that you don't get burned by a really bad one, that you limit your risk and the downside potential in your various ventures. After that, you can only pray that what mistakes you do make are not crippling.

But mistakes do happen, even to the best of companies. Coca-Cola bet big on New Coke and we all know how that turned out. Ford famously flubbed the Edsel. But even so, it is hard to imagine that Apple has ever had anything but the golden touch. Today, between the iPad, iPod, and iPhone, you might forget that Apple was once just another computer maker (albeit one that has always had some cachet) but indeed it was. And it was when the company first swung for the fences that it struck out.

Read more on AOL Small Business