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How to Reinvent Your Business

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When Jason Goldberg and Bradford Shellhammer shut down their former venture, a social-networking site for gay men, and opened a flash-sale site focused on design, the decision wasn't easy. They had to throw away a year's worth of work and lay off most of their staff. But no one ever said reinvention was easy. Here are their three tips for how to switch gears successfully.

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Diana Ransom is deputy editor of

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