The Single Biggest Reason Why Startups Succeed

According to the report by Startup Genome, 92% of the startups fail.

5 Essential elements that lead to startup success:-

  1. Idea
  2. Team
  3. Business Model
  4. Funding
  5. Timing

Top 5 factors in success across more than 200 companies:-

  • Timing: 42%
  • Team / Execution: 32%
  • Idea: 28%
  • Business Model: 24%
  • Funding: 14%

Examples of why timing is more important-

airbnb: airbnb came right out during the height of recession when people really needed extra money and that maybe helped people to overcome their objection to renting home to a stranger.

Uber: Uber came when drivers were looking for extra money.

  • The idea may be great but timing is more important.
  • Execution matters a lot, but timing matters even more.

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