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How This Entrepreneur Bounced Back After Losing a Partnership, Laying Off Her Team and Dealing With $100 Million at Stake

Original Content Publication Date: 12/06/2018

Summary

As an entrepreneur, Kate Stillwell hit multiple roadblocks when launching her startup, Jumpstart, which helps speed up insurance payments after a disaster. When only 8 days before their launch their biggest partnership fell through and $100 million was at stake, Stillwell says they'd "fallen off a cliff, but didn't die." In this article, Stillwell elaborates on the details of her comeback and eventual launch of her company.

Key Points

  • In tough and unexpected entrepreneurial situations, there's no other choice but to be optimistic
  • The test of being a true entrepreneur is having the courage to be positive in the face of setbacks and shocks
  • Always make business decisions assuming the best, but always have a backup plan as well 

Discussion Questions

  1. What can entrepreneurs do initially to prepare themselves for possible future setbacks?
  2. Why is it so important to always have one or more backup plans when preparing to launch a business?

REFERENCE

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