Tuesday, June 9, 2015
On The Single Biggest Reason Why Startups Succeed.
“Timing accounted for 42 percent of the difference between success and failure. Team and execution came in second, and the idea, the differentiability of the idea (the uniqueness of the idea) came in third.” – William "Bill" Gross co-founded Pacific Investment Management. According to Forbes, his net worth is 2.3 billion USD (2015).
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10 comments:
This is my realm of operation and I appreciate anything coming from the mouth of Bill Gross. Good quote!
From the mind of Bill Gross often comes great business strategies such as this one.
it's always great when accomplished individuals such as Mr. Bill Gross share their knowledge in this manner. It's the same with Mr. Warren Buffet.
I totally concur. Timing is the greatest factor in the success of a business start-up.
Wow! I had always thought the uniqueness of a selling point was the most important factor in deciding the success or failure of a new venture. It's great to know otherwise from someone like Bill Gross.
What a great idea from a great mind!
These are stuff one doesn't get to learn in business schools.
Huh! This is very commonsensical. Yet, it never crossed my mind.
Should it be in that order though? I would have expected the differentiability of the idea (the uniqueness of the idea) to come first. But what do I know when Bill Gross is talking...lol.
Great ideas often appear simple when they emanate from accomplished guys.
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