The single biggest reason why start-ups succeed
Speaker: Bill Gross
Date 2 October 2021
Source: https://www.youtube.com/watch?v=bNpx7gpSqbY
The successful founder Bill Gross came to a moment in his life while he started to wonder about what makes companies succeed the most. In the first instance, he thought there were five factors necessary. During his life, he has founded hundreds of companies. Some with extreme and great success, others with a lot of failure. Gross believes that the startup organization is one of the greatest forms to make the world a better place. This is because of a way that unlocks human potential in ways that achieve unbelievable things. The five factors that accounted the most for company success and failure are:
1. Ideas
2. Team
3. Business Model
4. Funding
5. Timing
Later on, Bill discovered that Timing doesn’t really belong on place five, but is actually the MAIN factor for success. ‘’Business success all matters about timing’’. So, not the idea, but timing is the most important factor for guaranteed success.
It was very interesting to listen to this TedTalk. We would all say that a good business model or a great idea are the most important factors to make a company succeed. Nothing is less true. That makes this story very clarifying. When you start a company, it is always important to listen to your customers and answer this question: Why should customers buy your product? What’s in it for THEM? Is there enough question? If you can search this all out, then you will probably be a successful entrepreneur. What Gross also said is: ‘’We learned the most from our failures’’. I believe that this is also a way of becoming successful one day.
