TedX: The single biggest reason why start-ups succeed (Bill Gross)
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Timing is the single biggest factor that accounts for the difference between the success and failure of startups, according to Bill Gross. Factors such as the team, execution, business model, and funding also play a role, but timing is the most important.
Highlights
- 💡 The startup organization has the potential to unlock human potential and make the world a better place.
- 💼 Startups can fail due to factors such as poor timing, lack of execution, and a flawed business model, among others.
- 📈 Timing accounted for 42% of the difference between success and failure of startups, followed by team and execution, then the idea and differentiation, business model, and funding.
- 🚀 Successful startups such as Airbnb and Uber were timed perfectly to meet a market need.
- 🤝 To increase their success rate, startups should assess their timing and whether consumers are ready for their product or service.
