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JJ Ramberg

JJ Ramberg is the anchor of “Your Business,” MSNBC’s weekly show on small business. In addition to her extensive television reporting experience, Ramberg has a background as an entrepreneur and co-founded GoodSearch.com. She has an MBA from Stanford Business School.



Entrepreneurship -- it’s in your blood

Posted: Thursday, March 05, 2009 9:34 AM by Roland Jones
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By "Your Business" anchor JJ Ramberg:

This week my father came to the taping of the show. He's an entrepreneur and an investor. My mother was an entrepreneur. Both of their fathers were entrepreneurs. My brother is one too. And so am I.

Clearly, there's something in our blood.

Having my father in the green room before the show sparked the conversation of why the desire to start a business gets passed down through the generations.

One of the panelists on this week's show, Divya Gugnani, said her father was an entrepreneur and she grew up thinking that she wanted nothing to do with starting her own company. The uncertainty of living with -- as she put it -- the wealth of the world one day and nothing the next seemed unappealing for her own career.

She said she remembers travelling around when everything was great with her dad's work, and then watching him use his credit cards to make payroll when it wasn't, and it was scary.

So instead of going the entrepreneur route she became an investor, joining a venture capital company. Cut to a few years later and, you guessed it, Divya had left her VC company and its steady paycheck to start her own company called "Behind the Burner."

She said she couldn't help it.

"There is a point when you wake up and all you want to do is work on your company, and so that's what I had to do," she told us.

All of the entrepreneurs in the room nodded in agreement.

Clearly, entrepreneurship is not for everyone. I have a good friend who left his high-profile advertising job to start a company and a mere six months later returned to the agency. As he joked, "Nobody told me I was going to have to take out my own trash."

As for Divya, her father thinks she's insane. She says, she is. She says you have to be. Who else but an insane person would take the risk? But if the passion is there you can’t deny it, and she says she loves what she's doing.

What do you think?

What does it take to become an entrepreneur?

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I actually am an entrepreneur by nature. My father started a business back in Jamaica (where we are from) and ran it. Then when we came to US when I was a child, he did what he had to do and took a job. I think he got used to it. Then when things got difficult, he tried to start something again but it just wasn't working. I have always been selling and trying to find my entrepreneurial way and have had many stops and starts.  Then about 6 months ago, I decided to do something outside of my job and it wound up sparking that interest in me again. Now, I am going to be laid off by the end of April. First off, I'm glad I made that move 3 months prior to the "bomb drop" and I am now opening myself up to the possibility that I can be a freelance independent contractor to start and eventually run a business as a result. I'm at the point where I have low living expenses, no encumberances and I think I'm a lot more mature and mentally able to become self-employed and eventually a business owner. I can work on projects and move forward rather than drone on. I have failed and stopped and started so many times but with what's going on in the economy, there was this big honkin' sign that I can't ignore.  For me, this feels right. Right time, right "me". My priorities are to keep my lifestyle and grow from there. If I fail again, all I do is get back up. Companies don't "take care" of their employees anymore. It's up to us to take care of ourselves.  I think I'm responsible enough to pull it off.  
This article is very motivating. I recently started my own busines after reading www.LastBiz.com/16925.  I love the opportunity in today's economic environment to do something I love and be my own boss.
If you wonder if you're ready to be an entrepreneur, the answer is NO.

If you're going to read the above and ignore it, then you're on your way to being an entrepreneur.  A real entrepreneur will do what it takes to succeed.  Taking out your own trash is not an impediement.  

The only people who can validate your business are your customers.  The only way they validate is by buying your goods/services.  Anything else is fluff.  Prizes, accolades, awards, if these do not bring more real sales though the door, then they are at best distractions from your real business.

Being an entrepreneur is different from running a business, different than being your own boss, and rarely something you do just for the money.
I think their is a big difference between WANTING to be an entrepreneur and BEING one.  The one's who WANT to typically do/are for all the wrong reasons.  They want a title (ie. President, CEO) whatever.  They want money.  They think it means working less.

People who ARE entrepreneur's have to be a bit on the crazy side.  Typically you take on the torch and carry it for more altruistic reasons than money.  Most if not all the entrepreneurs I know could care a less what their title is - saw an injustice or broken element in the world - then work tirelessly for less money to try to fix it.  Those who are lucky succeed and in the end - get a pay day.  If you are doing it for the money, you likely will not get past the hardest stages of being an entrepreneur.  
I, too, come from a long line of entrepreneurs, JJ, on both sides of my family, and now run my own business, as does my spouse, whose father also was an entrepreneur. And I love writing about entrepreneurs and what makes them tick.

For me, being my own boss was a choice (wanting to be at home and available for my child). However, for many others it is a necessity, either because they dislike or cannot work for others, were laid off, or because they have some great idea that they feel only they can execute on.

Btw, the spouse and I love watching "Your Business" together on Sunday mornings, and find ourselves comparing our experiences to those of your guests.
My father was an entrepreneur with multiple unrelated businesses.  Post undergrad, I want into a large company, but the culture just wasn't a good fit for me.  Ended up getting an MBA from Wharton focused on entrepreneurship.  Post MBA I went back to working in the corporate world, but eventually came back to my roots.  I could be out there employed by someone and constantly worrying about my job, but I've opted to control my own destiny for better or worse by being self-employed.  Lots of risks and uncertainty.  Definitely not appropriate for everyone.  

I think it's the most wonderful experience one can have. I have yet to become an entrepreneur myself, but that is a dream I hold dearly and in my thoughts everyday. I am currently going to school to get a degree just in case I should falter, but boy give me a chance to open up a business, get it going and keep it going, why I think that's just the best challenge of a lifetime. And she's right? This is not for everyone, but for those of us who have a vision and like the idea of being our own boss, well that perk alone is just a part of why this is a sound plan. It will not be perfect, of course, but what is. After all we're only human. But it just takes that one simple idea that can be sold and make you millions. In today's economy having to wait around for jobs and career fairs is just plain boring and besides you get to work for someone else. Give me my independence to make it or fail, I don't care, but I would love the opportunity to have my own business!
JJ:

I think you brought up a great point that entrepreneurs need to be aware of the "consequences" of starting their own business.  Spotty cash flow, acting as both CEO and custodial, and the like.  

I think life as an entrepreneur requires two things.  First, I think people have to understand not only the upsides but the downsides to entrepreneurship.  Secondly, I think they have to have an idea, product, or service they are passionate about and don't mind working 50-60 hours a week and doing menial and non-sexy tasks (like taking out the garbage) to be successful and see their idea succeed.
I have a strong entrepreneurial spirit, have worked in a couple start-up environments and have always toyed with the idea of starting a business one day. In this economic climate, risk is especially scary. But with the so-called "secure" jobs losing stability daily and a crazy competitive job market, for the right idea, this might be the perfect time to pursue such dreams. Thanks for the candid insight!
I think more than passion, it is the timing,vision and immediate action. Coming days,years and decade the whole concept of entrepreneurship will change. So divya's insanity will prevail if she can sustain the weather in our future global economy
It takes a Mindset change, Self Improvement and the ability to fight FEAR.  Fear is a huge obstacle that prevents many people from doing what they really want to do.  It is the fear of branching out on your own, taking risk or the fear of change.  Like NIKE says, Just do it.  One thing that has helped me in overcoming fear is looking at my situation now and evaluating the pros and cons.  What do I have to lose by taking a chance?  I empower myself by reading books like Think and Grow Rich, by Napoleon Hill, The Seven Habits of Highly Effective People, by Stephen Covey, Your First Year in Network Marketing, by Mark Yarnell and The Science of Getting Rich by Wallace Wattles.  If Entrepreneurship is in your blood, go for it and on your way seek the help of very successful people.      
I have worked for others and worked for myself.  I guess I like working for myself better than any company out there.  I make my rules but need the discipline to live by them.  If you think it take tons of cash to get started you're wrong.  It only takes a good idea, your talents and hard work.  Most entrepreneurs I know have trained themselves in many areas beyond their business needs, including janitorial skills.  If you think you are above doing any job in your business then you are not an entrepreneur in my book.  
This article is dead on. My grandfather was an entrepreneur and my father wanted to be but cancer stopped him before he could begin. I'm graduating with an Entrepreneurship Management major and plan on opening my own business eventually. I think the passion is genetic, or at least passed down upon generations through your parents and grandparents values.
To become an entrepreneur, it first takes dedication and lots of logical thinking before you make any bold moves. You don't have to necessarily leave your job right away.  If your work happens to be effecting your lifestyle and your abilty to stay balanced, then by all means do what you think is right. Once you have set a reachable goal and a clear objective of what you plan to accomplish for yourself and others, then act on it! Remember, whatever you can do, or dream you can, begin it!
Who knows!  My father and his father were both entrepreneurs, who built their own businesses, each with their brothers (two very different ventures, both very successful).  I grew up thinking I would work with my father, but got to the point where I didn't think I had the stomach for that kind of risk.  And so here I sit, riding a desk, wondering what my employer will do come year's end, when I personally expect a second round of layoffs.  If I were more capable of that insanity, and could channel that energy to create something where nothing existed, perhaps I'd have less sleep, but I'd also have the piece of mind that the decisions were mine, and mine alone.
I think that entrepreneurship is equal parts nature and nurture.  If you grow up in a family that encourages risk-taking, chances are you'll end up more willing to take risks.

That said, successful entrepreneurship might be genetic.  Some people have an innate knack for picking up on trends or sensing a shift in the direction of the cultural winds before anyone else.  I don't know if that trait can be learned.
We believe entrepreneurs are the lifeblood of the economy, and in many ways that is why we started the American Security Challenge, an emerging security technology firm competition that this year will give cash and contract awards to selected companies.  The deadline for emerging security technology companies to submit their executive summaries is March 31st and all the details are at www.americansecuritychallenge.com  we'd love to talk about the role of such challenges in moving innovative companies to market faster on your show!  Help us protect America with the best technologies available!  Thank you for your show!
I have had my own business for eight years. Just when I think financially and time wise it's getting easier, something comes along to throw that notion out the window. While I don't regret the move I made those long years ago for one minute, I will agree it's not for everyone.
Fifty hours a week? Try up to twenty a day for the first two years. Lots of dirty heavy lifting. Taking out the trash is one of your minor tasks. Always remember, the sale comes before all else.
Someone once told me a simple test for determining potential for success as an entrepreneur. I have applied this to many people, and I find it mostly accurate. For example, when someone fails the test, you can usually pick out a personality characteristic that would keep them from succeeding, something like being unable to look past giving up a steady paycheck while the business is in its formative stages.
Are you under 40?
Was your father an entrepreneur?
Did you get along with your father?
The correct answers are Yes, Yes, No.
I too think it's in your blood. My fathers' an entrepreneur, brother, myself (who knows before my father). Granted my online boutique isn't quite making enough to quit my full-time job, but you can be sure the minute it shows signs that it will...
I have been an entrepreneur at heart my whole life!  And, for the last seven years I have been building my on-line restaurant guide where2eat.com.  You have to be a little crazy to be an entrepreneur.  The income can be devastatingly low and sometimes you wonder why you are putting yourself thru it.  But, the rewards of freedom and knowing that everything you do is for YOUR company is priceless.
genetics- yes- this gives you your tremendous energy, great risk taking ability, flexibility to turn on a dime when things are not working, action and results orientation, belief in your decision making ability and drive, lots of drive!
Call me crazy but I resigned last week! Yep, to start my own business, Always have dreamed about it and at the ripe old age of 40, I have finally found out that climbing that ladder over the last 20 yrs, it really is leaning against the wrong wall.
"...I never was one to sweat out the small stuff.  Just looked at the big picture every day. I ride into the valley from the mountaintop, plan, plan and execute. Do my necessary daily operations with the business, evaluate our market share, attend to the non-stop details, evaluate what my status is in relationship to my goals. Then I go back up and look over the valley....at the big picture....and from there, I have a pretty good idea whether the moves and baby steps I have taken have worked in moving the company in the right direction and contributed to our overall progress....pretty basic stuff, not looking to net a huge amount money, the success of the business is MUCH more important to us than money by itself..."
Having been entrepreneurs all our lives -- 73 and 74 -- mostly in the retail business, my husband and I still cannot see an empty building without thinking, "What could we put in there?"  If it is in your blood, it never goes away.
My father was not an entrepreneur, nor my mother; but I am on my way to becoming one. I am working at it and it is hard work! 24 hours are just not sufficient, but I love it! All the work I put in is for myself, not someone else. I wouldn't want to do anything else.

My wife says she hates the word, "swimmingpool." Yes, that's my business retail store, build and service. Now I am Greek and as far as I know it's in the blood! My father and grandfather and most male Greek have that stubburn, independent drive. We work long hard hours, we don't feel the day is complete unless we have finished what we started and the customer is happy. But I'm that way even at home, especially if I'm cooking or cleaning or hepling the kids with a project. So, I think it's in the blood, I'm a Serving, Lion/Beaver.
the word insane really fits the spirit of an entrepenure,because we think outside of the box,an we have so much passion for the vision of life.when someone tells us it can,t be done,we repons by saying how can it be done.all my life i was told your not that smart.but it went in one hear and went out the other,my place in life is the magical place of being a enterprenure.we face the hard times with hope,and active vision.so to all who are running a small busin or who wents to embrace it,grow from it improve it.we are the driving force in the world.
You have to believe with all your heart that it is in your best short, medium and long term interested...both personal and financial to be your own boss.  You have to have the ability to embrace insecurity.  A couple of many factors.
Growing up, I did not have anyone in our family that had the drive to be an entrepreneur, but my wife is an entrepreneur as well as a couple of close friends. In fact I work for a entrepreneur as well and the one quality that I have all noticed that they share is they are not afraid to try and fail. They adapt and innovate. In fact, being around them has inspired me to try my hand at starting a new business. Unfortunately, with the economy the way it is, that may be tough to do. So I am taking a page out of their play book...be creative and innovative. That is why I started my own website to raise capital www.swapstartmybiz.com. Not sure if it will work, but so far the response has been good and we'll see where it goes.
My husband and I have owned our own computer business since 2003. I do not agree that you have to be crazy to be an entrepreneur. On the contrary, one must be intelligent, motivated, creative and have a drive like no other. We have learned a lot over the years and surprisingly, in this economy we are growing. We employ six employees now, plus ourselves. The work is never ending and each day brings new challenges. This year we are on track to do over a half a million in sales. Wow!! However, we will not bring home even close to that amount. Being an entrepreneur has many expenses. Most people do not realize the hundreds or thousands of dollars in taxes that must be paid every month.Unemployment must be paid, even if an employee isn't receiving unemployment at the time (it's just in case some day they will). If you lease a space, don't forget about the lease payment that must be paid every month as well as insurance on the space you are leasing.Utilities, office supplies, building repair and maintenance, the list goes on and on. Did I mention you also have to have insurance on your employees. Yes, it is expensive, but it is all still very rewarding.I think a lot of people think to own one's own business is a walk in the park. Yes,you might have some free time and yes, you might end up rich.For now though, my husband and I will work hard, keep a smile on our face and continue to wait for one of those perks to occur!
To make it on your own you have to have patience, perseverence, and passion. Years ago, my father told me, "I like to play golf. But I will do it as a hobby on the weekends." Thus, he advised me not to try and become an author...He didn't want me to struggle and starve.

Today, I am keeping afloat and the fridge is stuffed with healthful food; health insurance payment is not past due. If you give 100% to your dream it can happen but if your heart isn't in it for the best and worst of times, move on. You will drown in misery.
If your Dad is already wealthy, it is pretty easy to take a risk.
Having founded several companies (some of which actually succeeded!), I have no doubts that I'm an entrepreneur.  However, my latest venture is a business brokerage and I've discovered something that I had - until know - discounted: buying a business. It may not be quite as glamorous as carving out a new niche but it has the distinct advantages of existing structure and history - bad and/or good.

Looking back on my 'starting from scratch' adventures - I wasted a lot of time and money reinventing the wheel.  I should have considered 'customizing' an existing one.  

Current economic conditions have only served to enhance this option:  1) folks who are not entrepreneurial soon discover their aversion to risk in bad times and sell at greatly discounted prices  2) the uncertainties of employment finally outweigh the risks of ownership and 'latent entrepreneurs' discover their calling.

The internet bubble created a distorted view of business ownership.  I'm reminded of the gold rush - most of us cannot identify a single individual who struck it rich - but we all know about Levi Jeans.

Here's to hard work, determination, and plain ole guts. There's never been a better time for entrepreneurs!


I'm not sure that I can vouch for any genetic predispositions for having your own business. No one in my known ancestry has had their own business. I happen to love what I do and found a niche. I like not having to answer to someone based own their own agenda or ideas of customer service. I would suggest to anyone to take the plunge and try it on your own. Having a backup plan is a good idea. Find your niche and make sure you love what you do. This country was founded by risk takers.
I would rather die knowing that I had chased my dreams, than regretting never having taken the risk.

I grew up earning money mowing lawns, delivering newspapers, and doing handyman work. Maybe it comes naturally, maybe it's genetic, who knows. I do know that it is an integral part of my being, my personality. I ended up continuing my entrepreneurial pursuits by starting my own specialty retail automotive service and repair business. After eleven years of long hours, hard work, and never enough money to pay the bills, I left the business to pursue a corporate position. In some ways similar to the military services, what I took with me was very different than what I left behind; A maturity and confidence that came from having to hire and fire employees, from developing and maintaining customer relationships, from being "The Buck Stops Here", from developing a strong BS sensor from my dealings with vendors and customers and landlords and government officials and on and on, from building bridges to those I could trust, and building fences to protect my business from those I could not. I was practicing CRM before it became a buzz-acronym. I lasted about five years in the corporate structure, and fortunately found the real estate business, which is a nice medium-ground between the support provided by a corporate parent and my genuine love of working for myself. I wake up looking at each day with an eagerness to move forward, to accomplish tangible goals, and while I may not be a model of efficiency and grace, I love the sense of being free of a cubicle and the corporate environs. No walls, no barriers.
A suggestion on entrepreneurs. Read the book "The MYTH OF E." It shows why entrepreneurs most often FAIL.
I work in my jammies. How cool is that? However, there are times when I work 24/7. That's not so cool.
I have always wanted to start my own business and I have studied most of my life in the field, but things like property insurance and collateral were the main areas creating a real obstacle.  I know that I could ask for loans and sponsorships; so I guess, it is a question of going out there and seeking such things and taking a chance.  That has always been easy to put on the back-burner to mull about.
I started my own business in 1983 and held on to it until 1994. It was a trial and error, hit and miss proposition. I knew at a young age I could not work for anyone else. I have a big personality, my manner is passionate. I like things done in a logical and systematic way. Basically I felt that I knew more than anyone else. I wanted a place that I could call my own and put my education to work. I had vision. I like calling the shots. With an investment of only $4000, I pounded the pavement everyday; the old fashioned- way-door to door, cold call after cold call; sending thousands of postcard advertisements in the mail. There was a great sense of satisfaction for me although money came and went. I thought we (the shop) would certainly make it over the hump. If we could only make it to get that one contract that would put us on the map. We never did.
I reluctantly joined the work force in 1995. It was difficult for me and continues to be until this day. My work ethic remains the same, tirelessly working day to night, night to day; bringing knowledge and passion to the job, thinking that I will be with all my experience and skill; of value to my next employer. I am not and there is no satisfaction.
For the past 3 months. I have worked on a plan to re-open my shop. Again my own limited funding seems to work against me and the scared banking industry will not make a move. There is no glamore in the life of an entrepreneur; it is difficult grueling work to keep a business open and have the responsiblity of other lives depend on you; not to mention your own family.
I started my first consulting practice in 1997 and watched it flourish for four years and then get crushed by the economic impact of 9/11. My wife thought that was it for the whole self-employment bug. It was for her, but not for me. Once bitten, it's hard to go work for other people. I bounced through a couple of full-time jobs at banks and insurance companies (very stable), but it was as if I were being tortured every day by not being able to make decisions for myself. Then the opportunity came to go back into self-employment and although I knew my marriage would suffer its final blow, I took it. I just decided that if my marriage wasn't strong enough to accept my passion for entrpreneurship, then it wasn't meant to be. Since starting my second consulting practice I have started a software publishing company that focuses on reading software for middle-school kids and I have two inventions in the works. I'm also consulting at someone elses start-up company. I believe I will be an entrepreneur and eventually investor for the rest of my life. It is very much a philopsophy and way of life.

The thing about all of this talk of risk is insane to me. America was built on entrepreneurship. When did it become wrong to be American?
Even though my dad was not an entrepreneur, I had always grown up knowing I would be one. I was passionate about independence and ability to follow my own dreams. Even though I was well paid I  never stopped looking for opportunities to replace my income and grow my own business. I went to college and a year after my first job started a shipping services contracting business. Four years later I migrated to US from Africa and even though I went to business school for my MBA I knew I was destined for entrepreneurship in the USA. I worked for a thriving telecom wireless company soon after college but I could not stop from having side gigs of my own. When my company laid off our division in 2003, I decided to go full speed with my business.
It has been a great leap of faith; six tough years later I could not be happier pursuing my own dreams, having the time and making a living at the same time....I wanted it bad enough.
I am the Chairperson of the Entrepreneur Committee for the Women in FoodService Forum.  We are having our annual conference in Dallas, TX this coming weekend and we have a wonderful educational track on Sunday.  One of our speakers is Margaret Heffernan, author of "How She Does It"--an amazing book; her research describes why so many females are successful entrepreneurs--I really encourage you to read it :)
There is an apparent truth to this thought, for me at least. I am a descendant of European farmers and merchants, with an intrinsic sense of pride, along with a knowing that job security is generated by my own productivity, perseverance and creative ingenuity. This lifestyle is learned vicariously by being close to people who live confidently and resourcefully through periods of success and failure. Knowing how to look forward, when to take a calculated risk and having faith in oneself are skills of intuition and not academia. I'm willing to bet that most successful CEOs for major corporations have had some exposure to an entrepreneurial experience.
I had my first business, a cookie business, at 10. I started it to make the money to buy my first nice bike. I liked the bike. I loved the business, and the whole process of making a product I thought the customers would like, taking their feedback and continuing to improve the cookies I made, making the customers happier and the business better every week.

In the years that followed, I found my way back to the challenge and fun of being an entrepreneur three times. I have stayed on the entrepreneurial path for 15+ years in this latest iteration.

The entrepreneurial life may be in the blood, yes. Our daughter, about 8 at the time, was not happy with the rate of sales at her front-of-the-house lemonade stand. She suggested selling door to door before I helped her make some other adjustments to boost her sales to what she thought they could and should be.

I still think she, now 24, and our son, now 17, may find their way to the entrepreneurial life someday, though they don't see that just now as they look out over the career horizon. Time will tell whether the entrepreneurial call is as strong for them as I suspect.
I have been an entrepreneur most of my life and I have known a lot of small business entrepreneurs as suppliers, customers, friends, etc. I have observed ten "personality skills" that are present to at least some degree in all of the successful small business entrepreneurs I have known (keep in mind that most entrepreneurs fail). These skills can be improved once they are found to be lacking but it is easier if they are a "natural" part of your personality. If you are weak in some or all of these areas, your chances of succeeding are greatly diminished and you may want to consider working for someone else. I think the extent to which entrepreneurial tendencies are "in the blood" probably has to do with the handing down of work habits and personality skills from parent to child. But there is no reason why someone who did not grow up in an entrepreneurial environment cannot become entrepreneurial. It is not genetic and it is not magic. For more see my blog http://smallbizwealth.blogspot.com/
In this economy, if you have fear of becoming an entreprenuer, then Run.  In this economy, if you see opportunity, and you see success, and you see growth, then maybe you are truly an entreprenuer.  I have failed, horriblly in the past, I have also succeeded.  Success is much more fun, but failure...that's where you learn everything that doesn't work.  Thank God for Opportunity.  Without it, we have nothing.  Bad economy, bad timing, too risky...blah blah blah...if you do something great, you do it better than anyone else, then go do it. The time is never perfect, the time is only 'Right'.
I'm astonished by the myths that exist about what it takes to be an entrepreneur. Some of those myths seem more appropriate to the conventional 20th century businessowner than to the new idea-driven self-bossers of today who may have a very unconventional vision of what it means to be an entrepreneur, but, mostly, they want to build their own dreams, not someone else's.
Entrepreneur.  I like just saying the word.  I feel as though entrepreneurs are the ones who make the world go around.  Everything revolves around you.  You are one who makes it happen.  And, IF you fail, you can ALWAYS get job with someone else, take their money, and then start something else later.
ENTREPRENEURS are usually self centered people who do not want to work for others. They do not want to adhere to structure and are usually lazy people.


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