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Entrepreneurs don’t win based on raw talent alone. Success depends on talent, hard work, and not-so-dumb luck, according to Clarence Wooten, who’s launched his share of startups including Image Cafe in 1998 and seven months later sold it to Network Solutions/Verisign for $23 million.

Instead, successful startups come from a combination of talent, good ideas, hard work and maybe not-so-dumb luck, he said. At the inaugural MIT Sloan Hi-Tech Conference on Friday, Wooten, who is now working on Arrived offered 12 lessons for entrepreneurs.

To read the full, original article click on this link: Startups: Build a great culture, fail small, and pay what you owe — Tech News and Analysis