@Home Network (went public), Epinions (went public as shopping.com), P-Cube (acquired by Cisco)
To innovate and build something of disruptive potential ... and in the proces change the world!
CloudOn (I'm a tad biased)
Frustrating: The challenges around work-life balance and not having enough hours in the day.
Rewarding: When the team pulls together in the same direction and you can see the results of the hard work and sacrifices.
Fall in love with their own idea and have their ego take control. In this situation they fail to read the warning signs of changing market conditions (economic, competitive, etc) or internal challenges (team, execution, etc)
1. Surround yourself with the best talent in the form of employees, advisors, friends of the company.
2. Be humble and receptive as some winning ideas might come from unexpected places.
3. Stuff always takes longer than one plans, whether it is the evolution of the market, adoption of product, or internal execution/delivery. Staying power is critical ... so spend your limited resources wisely.