What are the startup success factors actually matter the most for start-up success.

The start-up organization is one of the greatest forms to make the world a better place. If you take a group of people with the right equity incentives and organize them in a start-up, you can unlock human potential in a way never before possible. You get them to achieve unbelievable things. That’s why the startup success factor are important.

But if the start-up organization is so great, why do so many fail?

Let’s find out what actually matters most for start-up success.

I tried to look across what factors accounted the most for company success and failure. So, When I first noticed about these factors then I thought these startup success  factors should be in this order.

1. Idea
2. Team
3. Business model
4. Funding
5. Timing

So, I explain little bit about these factors.

1. Idea

People think that idea is everything. You named your company, started a project, create a logo and these all movements are really enjoyable when you first come up with your idea.

The source of idea is based on consumer need its all about a Need just find a need and fill it. For a new start-up there are two possibility,

First is modify or improve – Take an existing product or service idea and modify or improve those product and service as per your understanding. Or ask yourself is it there a better way to improve?

Second is Transformational– Come with brand new idea there is never been done before and so that’s why I called transformational Doing a new thing is always risky as compare to already exist but that should not stop you to do new things.

The key word in both cases is innovation and “necessity is the mother of innovation” and the main point is need of consumer and start looking the picture from different angles try to look what are the problems of customers what are they need try to focus how you solve those problems? In which area you passionate about and create a solution of those problems?

2. Team

I think that the team, the execution, adaptability, that mattered even more than the idea. But someone told me “Everybody has a plan, until they get punched in the face.” And that’s so true about business as well.

So much about a team’s execution is its ability to adapt to getting punched in the face by the customer. The customer is the true reality. And that’s why I came to think that the team maybe was the most important thing.

Team work creates a smoother and looser structure by developing a friendly environment teamwork encourages flexibility by working and communicating together and teams enable different perspectives to be considered and thus allow the business to respond to change faster.

Enhance problem solving by combining different solutions, abilities and talents into one big productive and allows new ideas to flourish and goals to be achieved faster. Teamwork improves productivity since the performance and knowledge of an individual is limited compared with a group of varied skill sets.

3. Business Model

Then I thought about business model Does the company have a very clear path generating customer revenues? That started rising to the highest in my brooding about maybe what mattered most for success.

Business model is a description of how your business runs, a competitive strategy, explains how you will do better than your rivals. There are several things business model focus on

Value it creates, who it serves, what sets it apart, what resources it depends upon, how it delivers value, how it generates revenue and what its major costs are this are the area business model focus on.

4. Funding

Getting funds for your start-up is not easy and you can’t get funding for your start-up from anyone who is not even believing your idea. Maybe that’s the most important thing.

5. Time

Is the idea way too late, and there’s already too many competitors? Is it right time to start-up? is it too early and the world’s not ready for it? Time is your precious resource because right business on the right time chances of your success is very high.

According to changes in customers needs its very important to execute your idea on right time. Because if customers not accept what you serve so, it’s really important to do right business on right time