Many entrepreneurs have a dangerously simple idea of how business works. To them, it’s very straightforward—you sell something to someone else, and you get paid. End of story. Except that’s not even close to how things work. Here’s an example of what I’m getting at. Let’s say an entrepreneur designs an absolutely beautiful purse—stylish and eye-catching at the same time. She takes a sample around to various high-end retail outlets, and the product is appealing enough to attract immediate attention from the store owners. “You know what?” says one. “I’d like to carry those in my store. I’ll take
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