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Once the imaginary friend phase is taking shape among the initial team, and the skill of telling the business story continues to improve, the attention usually turns to the realization that the venture is going to take resources and funding. That's where friends and family first comes in.
Immediately following the “visions of grandeur” phase, which helps founders overcome the inertia required to commit and proceed with the start-up adventure, the focus will usually shift from convincing themselves about the business viability to convincing others.
From the Anatomy of a Start-Up: Emotions Edition Series The first stage in any start-up experience is what I call “Visions of Grandeur,” and it’s undoubtedly one of the most exciting phases in the journey.
I often equate launching a start-up with the military tag line: “It’s not a job, it’s an adventure.”