Thread by @varunm30

I've helped ~2000 entrepreneurs in their journeys.

There's 1 rare factor that makes the difference between success and failure.

🧵 Here's what you should implement:

I'm passionate about helping startups scale.

Thankfully, I had great opportunities to work for organisations that ran programs for startups.

Notable:
• EU India Innocenter @EUI_Innocenter,
• T-Hub Foundation @THubHyd,
• Techstars Startup Weekend @startupweekend.

Two specific terms to understand before jumping into "Why startups succeed?"

⮕ What are 'startups': new entities in search of scalable biz models by testing various hypotheses (value prop, TG, distribution, pricing, etc).

⮕ What is 'success': significant product-market fit.

The top 5 reasons for a startup's success:

➊ Idea/Product
➋ Business Model
➌ Team/Execution
➍ Funding
➎ Timing

(no specific order)

Let's see which ONE reason matters the most. 👇

1. Idea 💡 - uniqueness? any differentiators? can we create competitive moats around it?

I've organised StartupWeekends & such hackathons to help people validate their ideas & come up with a prototype or a biz plan.

⮕ You can build a business with any decent idea.

2. Business Model ⚙️ - clear path to generate revenue?

I've run programs where startups had no definite biz model but could still sell.

⮕ To succeed it's not necessary to have a biz model on day 1, you can build one as you go. You'll test & pivot/improve it anyway.

3. Team/Execution 👩‍💻 - Skilled enough to adapt? Effective & efficient enough to get work done?

It has to the be the most imp reason, right? Nope!

A good team is crucial. It's up there but not the no.1 reason.

⮕ Like in sports, the best teams don't always win championships.

4. Funding 💰 - money raised? from whom?

Funding will never outweigh the drawbacks of a bad idea/execution. It's true.

⮕ In the last 8 years, I've met quite a few founders who're doing very well & haven't raised any money yet. Doable.

5. Timing ⏱- when did you execute your idea wrt the market/world?

On-time/early/late?

No point introducing your solution if the problem doesn't exist on a significant scale.

⮕ How can you provide value if enough people don't need it?

This is it, TIMING matters the most. 🏆

Change is continuous & irrational. You need to adapt continuously to progress within a system.

⮕ "TIMING is the ability to act at the right exact time".

Product-Market fit is key & it is the outcome of consistent "good-timing"! 💎

I've built systems for & ran various programs- startup incubation/acceleration, corporate innovation, market access, investment readiness & mentoring.

I've done a lot of primary research & realised that the overrated "luck factor" in a startup's success is basically TIMING ⏱.