It does seem that the startups with a lot of publicity make it appear easy doesn’t it? Success garners attention and yet attention drives audience and demand for innovation, begging questions and debate of what comes first and which is the more important. Unquestionably, it’s the story, and that audience and attention that comes with it, but how does that publicity manifest?
A recent Salesforce effort concludes that it is clear that timing is crucial when it comes to the ultimate success or failure of a company. Drawing from a Chris Dessi study of 200 startups, timing was found to be the most important factor related to success in 42 per cent of the cases, the most of any single factor.
Ideas can still be powerful even when the timing isn’t right, but when you combine the two, you have the potential to create a business that revolutionizes a marketplace and leaves a lasting impact.
Danny Wong, Blank Label; with Salesforce Canada
The Most Important Factors for Startup Success
Pulling together a series of perspectives, Salesforce notes what it takes. Just some people, sitting in a garage, thinking of great ideas, tinkering on a computer, then voila — right?
Startups are a little bit of a good idea, a little bit of funding, a little bit of timing, and a whole lot of hard work.
Our friends at Ghergich & Co., an incredible Saint Louis, Missouri based content and design firm founded by A.J. Ghergich, partnered with Salesforce Canada to put together an infographic that tells the story.
Notably, seen here, it takes a team with an approach to work rather distinct from what we all experience in companies or our early career positions.
Confidence is often a great attribute, and you and your employees should feel good about standing behind the value of your product or service. Still, you may make mistakes, and you and your collaborators have to learn from them if you want to succeed in the long term.
The best way to accomplish this is to surround yourself with partners who understand that failure is an opportunity to learn and improve. In fact, there are numerous examples of successful entrepreneurs describing how failures made them and their company stronger. Trying to eradicate failure and mistakes from your venture is a lost cause. However, if you and the other leaders in your organization learn to recognize failure as an opportunity to improve, you will be able to turn it into an asset.
Danny Wong
Your team is the family but the timing seems to be key. Take a look…
