Jim Beach sold American Computer Experience for $200 million, which sounds like a fantastic exit, but when I asked Beach if he had any regrets I was surprised by how long a list of lessons he had to share including:

How creating new divisions can help grow revenue but reduce the overall value of your company.

- The dangers of raising venture capital.

- Why growing faster than your cash flow may end up costing you more equity in your business than you want to give up.

- The perils of partnering with a celebrity entrepreneur.

- Why you should never take an angel investment from a friend or family member.

- How to avoid a $250,000 legal bill when selling your company.