Sat.Nov 24, 2012 - Fri.Nov 30, 2012

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How do serial entrepreneurs such as Kevin Systrom and Jack Dorsey sustain themselves while working on a project that doesn’t yet generate cash-flow?

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Unfortunately there is no magic involved here. In the two specific cases you mentioned, one had made money from his previous startups, and the other had paying jobs at Google and Nextstop. Typically serial entrepreneurs are serial because they have successfully exited from Startup One before beginning Startup Two, and they use the first one to fund the second.

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10 Course Corrections Every Startup Should Memorize

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Eric Ries image via Fast Company. The popular view of a real entrepreneur is someone with a big vision, and a stubborn determination to charge straight ahead through any obstacle and make it happen. The vision part is fine, but successful entrepreneurs have found that the extreme uncertainty of a new product or service usually requires many course corrections, or “pivots” to find a successful formula.