As new entrepreneurs, we love our novel, game-changing technology, the advantages of which are obvious when compared with the ancient relics made by global market leaders. We also know that
when we get to scale and can make a million pieces, we will have a cost advantage and will surely win. Time to do a start-up and begin planning that Caribbean vacation! Although this is somewhat satirical and an oversimplification, it shows some of the traps entrepreneurs, especially first-time entrepreneurs, often fall into.
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