Startup founders often adjust their strategies several times before hitting on a winning formula, writes Michele Serro. When they do finally find a business model that works, it's often by improving on an old idea, combining two seemingly unrelated concepts or finding a way to eliminate frustration, she writes. "Half the genius of some of the greatest entrepreneurs -- Steve Jobs springs immediately to mind -- is the ability to remove the superfluous, unnecessary, or unwieldy from an existing system, product, or experience," she writes.

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