Timing is the Key to Startup Success

At thw TED Talk, Bill Gross, the founder of Idealab, shared his findings on the factors that contribute to startup success. He found that timing is the most important factor, accounting for 42% of the difference between success and failure.

Gross says that it is important to launch a startup at the right time, when the market is ready for it. If a startup is launched too early, the market may not be ready, and the startup may not be successful. If a startup is launched too late, there may already be too many competitors, and it may be difficult to gain market share.

Gross also emphasizes the importance of team and execution. He says that a startup needs a great team that has the skills and experience necessary to execute the plan. The team also needs to be flexible and adaptable, and be willing to change the plan as needed.

The other factors that Gross identifies as important for startup success are the idea, business model, and funding. The idea should be unique and have the potential to solve a real problem. The business model should be sound and generate revenue. And the startup should have enough funding to execute the plan.

Here are some examples of startups that have succeeded because of good timing:

• Airbnb was launched in 2008, during the height of the recession. At the time, many people were looking for ways to make extra money, and Airbnb provided a way for people to rent out their homes to strangers. Airbnb also met the needs of travelers who were looking for affordable and unique accommodation.

• Uber was launched in 2010, when the smartphone was becoming increasingly popular. The smartphone made it easy for people to request and pay for rides, and Uber's business model was well-suited to this new technology.

• YouTube was launched in 2005, when broadband penetration was starting to increase. This made it possible for people to watch videos online, and YouTube quickly became a popular destination for watching and sharing videos.