Startup Success Decoded

Blog

 

Rahul Bhargava takes a look at thriving startups and shares the key factors that led to their success. 

Recently, one of the startups I am working with, asked to ‘decode’ a post by Michael Stewart he had read about success factors for a startup. This post itself was a further assessment based on the TED talk by Bill Gross, founder of Idealab, given in March, 2015 on the topic. The talk and further assessment by Michael assessed 5 factors for startup success – Ideas, Business Model, Team, Funding and Timing – and gave verdict on Timing as the most important success factor amongst these.

To assess the impact of Timing, Bill asked the following questions (not exhaustive) from 100 Ideallab companies and 100 non-Idealab companies: Is the idea too early?  Is the world not ready for it?  Is too much education of the customer required? Or is it too late, giving the competition too much time to be competitive?

The question asked from me was – How do we decide if the timing is right for our startup? I shared with them a version and then thought of taking it to a wider audience for inputs.

Overall, a large number of factors that influence a startup could be taken care off by the other 4 parameters (Funding, Team, Idea or Business Model). I believe that those factors that are not completely under your control, are the ones to be considered under Timing.

 

Key points include:

  • Product development
  • Customer acceptance
  • Scale up requirements

 

Read the full post, Decoding the biggest success factor for Startups, on LinkedIn.