Summary of The Single Biggest Reason Why Start-Ups Succeed

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What’s the secret ingredient for start-up success? Most people reckon that a great idea is the most important element. However, Idealab founder Bill Gross corrects this faulty assumption. His analysis of 200 companies, including some landmark successes as well as notable failures, reveals that timing is everything. getAbstract believes Gross’s clear-cut, contrarian findings couldn’t come at a better time for today’s ambitious entrepreneurs and venture capitalists.

About the Speaker

Serial entrepreneur Bill Gross is chairman and CEO of Idealab, a business incubator.

 

Summary

Why do some companies succeed while others fail? Idealab, a business incubator, has supported more than 100 start-ups over the past 20 years, including many overwhelming triumphs and disappointing duds, which places Bill Gross, CEO of Idealab, in an ideal position to investigate the secret of success. Gross analyzed 100 Idealab companies plus 100 external companies in an effort to determine which of five factors – “idea, team, business model, funding” and “timing” – exerts the greatest influence on the fate of a new business. At first, Gross believed that the essential characteristic of a winning firm was a great idea. Over time, he began to think that the team and idea execution were...


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