What Is The Most Important Element Of A Successful Startup? Hint, It’s Not The Idea, Team, Business Model Or Funding Dollars.

The number of self-employed people in the U.S. has grown by nearly 150,000 since 2014 to 8,751,000. This number is up from 8,602,000 at the end of 2016. That data, from the Bureau of Labor Statistics, is interesting yet unfortunately many of these future entrepreneurs will fail.

Over 80% of new businesses fail in the first 5 years, and 96% fail within their first 10 years according to the U.S. Department of Commerce.

So, how do you hedge your bet?

According to Bill Gross, founder of Idealab, it’s not the idea, plan, business model, team, or surprisingly, even the money that’s the most significant factor in a startup’s success. It’s all in the timing.

Read the full article here . . .

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