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The New (Old) Reality
All start-ups stumble and many fail
Venture capital is expensive and hard to get
Companies can't afford all the people they want
It takes 5-7 years to develop a business
If you run out of cash, you are out of business
Building a Successful Company
Get the best people you can afford
Focus in-house resources on developing products and acquiring customers
Outsource non-core functions--especially G&A--for as long as possible
Cultivate a "sense of urgency"
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