Bill Gross, founder of Idealab has founded and incubated lots of startups. Eager to know what makes startups succeed or fail, he compiled extensive data from companies he started and from companies started by others and placed the reason why these startups failed or succeeded under five major factors.
These five factors in no particular order are the idea, the team execution/adaptability of the idea, the business model, the funding, the timing.
At the end of his talk, Bill Gross chose one out of these five factors as the single biggest reason why startups succeed. His choice surprised him. It surprised me too, but his choice makes a whole lot of sense.
Start your week by discovering that single biggest reason why startups succeed. Watch this TED video.