1. Start-up   This  is the exciting phase when your business concepts are launched. First  you must get through the pre-launch by raising enough capital to prove  your concept. Then you must design, build, test and hone your product  and marketing plan. Then you enter the real  market.   Here you discover the misconceptions you had regarding what your customer really   wants, and what that means to your product, package and pitch. The  speed of this early course correction is critical. You must make many  expensive changes at a time when you are racing the clock to achieve a  positive cash flow.   Most  studies put the start-up success rate at less than one in seven. The  goal of the start-up phase is to prove your concept and achieve positive  cash flow before running out of funds — or losing control of the  company through subsequent rounds of financing.   2. Build-up   Now  that you have beaten the odds and achieved a positive cash flow, you  must identify and sell a f...
 
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