Timing Is Everything?
Are you too early, early, or too late?
Startup Success Factors
- 42% Timing.
- 32% Team/Execution (efficiency/effectiveness, adaptability).
- 28% Idea ‘Truth’ Outlier (novelty/differentiation, ‘truth’ no one sees, competitive moats).
- 24% Business Model (clear path to generating customer revenue).
- 14% Funding (raising money for initial funding, follow-on, and growth).
Source: Bill Gross (Idealab)
Startups can change the world, and make the world a better place. However, to survive long enough to achieve those goals, requires great execution. The idea also matters a lot but timing might matter even more.
The best way to really assess timing is to carefully look at whether users are ready for what you have to offer them. Remember when doing this, be really honest, and not in denial about any results that you observe.
You may have an idea that you love, and you may want to push that idea forward however; you have to be very, very honest about the viability of the idea (after analyzing users).
Why Startups Fail
Bill Gross (Idealab)
You may be ridiculed for having a great idea ahead of its time.
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Question 1 of 6
The six startup development phases discussed in this course were (Startup Commons): Ideation, Commitment, Validation, Scaling, Growth, and Establishing?CorrectIncorrect
Question 2 of 6
According to Steve Blank: A startup is an organization formed to search for a repeatable and scalable business model?CorrectIncorrect
Question 3 of 6
Which of the following was not one of the six items in the startup scorecard?CorrectIncorrect
Question 4 of 6
According to Paul Graham (Y Combinator), ‘Expertise is not what you need to succeed in a startup. What you should really do is get to know the domain (industry structure, market space, business processes and use cases)’?CorrectIncorrect
Question 5 of 6
The Stanford Decision Chain allows you to: Gaining an in-depth understanding of the systems, processes and conditions of a problem, where ever it may have occurred?CorrectIncorrect
Question 6 of 6
Which of the following was raked lowest by Bill Gross (Idea Lab), in terms of the Top 10 reasons for startup failure?CorrectIncorrect