What factors actually matter the most for startup success?⁠

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What factors actually matter the most for startup success?⁠

Startups are so important today. It’s how big changes happen in the world. They make the world a better place. The possibilities of a great group of people to make a change are endless.⁠

And we need more of them.⁠

But it’s also true that more than 90% of startups fail. 😬⁠

It’s not a very encouraging number, right?⁠

There are 5 factors of success that Bill Gross talks about in his Ted talk “The single biggest reason startups succeed”. ⁠

These 5 factors of success across more than 200 companies are:⁠
▪ Timing 42%⁠
​​▪ Team/Execution 32%⁠
▪ Idea 28%⁠
▪ Business Model 24%⁠
▪ Funding 14%⁠

It makes sense. If you’re not there at the right point in time, when the market is ready and people are open to something new or are in need, you won’t be able to generate traction.⁠

But having the right team, ready and eager to execute the idea and go through all the challenges, is also of crucial importance.⁠

Many people believe that you just need to have a good idea. Although ideas are necessary, having the right team and doing things at the right moment is more important.⁠

Do you agree with the ranking of the factors? How would you rank them? 👇⁠

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