Wednesday, June 15, 2011

How to Survive on Fumes, Even with Rejection after Rejection

Pandora is up and trading today on the New York Stock Exchange with the stock symbol P. But, it was a long hard road to get to the NYSE, including years without pay for the founder and employees, and over 300 rejections from venture capital firms.

Below, Henry Blodget has a fascinating interview with Pandora founder Tim Westergren. As Blodgett puts it:
Most entrepreneurs pay lip-service to "tenacity," but few have any idea what it really means.

Pandora's Tim Westergren does.
Not all entrepreneurship is about long waits and years without pay, there can be situations that can develop very quickly, if you are sharp and aware of what is going on around you. But if you have the vision on a major project, you are going to need more focus and tenacity than most people are willing to give. Which means if you are really willing to give your all to a project, you have a major edge.

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