What Makes A Successful Startup?

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We know that about 90 percent of startups fail.  For a successful organization, it has to be healthy, because if it is not healthy, it is not going to grow and succeed.

So what is a healthy startup?

It must have, first of all, a complementary team. A genius inventor has an idea, that does not mean that person is very good in finance, management, organization, hiring the right people, and making their dream a reality.       

Also with only a business-oriented person there is a high chance that the company will be too conservative and thus the company will fail.

Second condition, it’s important to dream and have passion for something. It’s important to have a vision to be an innovator. In other words, it’s important to dream but it’s also important to wake up in the morning. If you are continuously dreaming, giving a new idea and a new idea and a new idea, you eventually end up with nothing. You have to focus, pick up the idea, and think about how to make it a reality. That is done by creating a business plan. 
   
What does a business plan mean? Test your idea. What exactly are we going to do? When exactly are we going to do it?  Is the timing correct? Do we have the people to do it? This is all testing the dream and waking up and deciding if it’s a nightmare and we had better not do it because we are giving an unhealthy dream a reality. 

Written by
Dr. Ichak Adizes
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