Do you feel like that you are struggling with your startup? Not sure what to do next to turn things around? A lot of successful entrepreneurs have been in your shoes too. Trial and error may not be the best tactic to hack your way to success. Sometimes a little planning and researching proven best practices may provide some benefits.
I found a great video from Ted Talks that featured Bill Gross. A very successful entrepreneur who has is an influencer in the startup industry.
He explored the different factors that make a startup successful. The research is from his experience in building businesses. A lot of them became successful and some of them failed. He did an analysis and found that the following factors played a part in a startup success.
2. Team and Execution
4. Business Model
Timing is the biggest factor in improving the chances of your startup success. What I found interesting is that the business model and funding are 2 of the lower factors. The reason is that you can have an undefined business model for your company. When you develop a community for your business they will tell you what they want. You then develop products that will meet your communities needs. Funding will come if you have demand. No matter what your business is. Take this data and apply it to your business. See where you need to make adjustments.