Is your target market ready for your Software or Technology?

In a popular TED Talk, Bill Gross (Founder of IdeaLab) shared the single biggest reason why startups and scaleups succeed. As you likely know, Bill Gross has founded many start-ups and incubated many others. He gathered data from hundreds of companies, his own and other people’s, and ranked each company on five key factors. He found one factor that stands out from the others: Market Timing.

5 key factors for startup & scaleup success

Bill looked at 5 important indicators to evaluate as the main one for success.

Funding – 14%

Often companies receive a great deal of funding, which may be a key factor for success. However, being well-funded only accounted for a a 14% success ratio.

Business Model – 24%

Having a clear way to generate revenues seems important. However, Bill notes that many start-ups proceed without a business model and then create one later. YouTube is one example.

Ideas – 28%

Great ideas are important. But execution of the idea is far more important. . Great ideas only accounted for 28% of the success ratios.

Team – 32%

A good team can lead effectively and have experience to adapt to the needs and trends of the market. However, Bill found ‘team’ to represent only 32% of the success ratio.

Timing – 42%

Having good market timing accounted for 42% of the success ratio and the most important factor in success. Bill noted companies like, AirBNB and Uber benefited as economic and other trends shifted.

An optimal Market Entry approach & scaleup effort

needs to consider timing.

Use a Proven, Step-by-Step process. More here.