If the business were a play, Act One is: Woohoo, bright and bushy-tailed. We're going to make something great! Act Two is: We're six months behind on back-end development. We're trying to raise venture capital. We're trying to figure out what furniture we should sell to make payroll.
Source: How We Did It: Stewart Butterfield and Caterina Fake, Co-founders, Flickr: http://www.inc.com/magazine/20061201/hidi-butterfield-fake.html
Contributed by: ~C4Chaos