05/10/2012 01:41 pm ET Updated Jul 10, 2012

Four Things To Get Right When Starting A Company

Most VCs and entrepreneurs believe start-ups are inherently iterative, that a string of mistakes doesn't prevent success, but may even be the path to it. Generally, that view is correct, but there are a few choices made early on that have implications so deep as to be functionally irreversible, with profound implications for outcomes. Product and business models are evolutionary by nature, but we see four things a young company must get right:

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