Category Archives: Entrepreneurship

A Model for Predicting the Success of New Ventures

Abstract: After an overview of more than 50 success prediction models for new ventures and identification of success factors and successful model patterns, and analysis of the venture creation process, a model for predicting the success of new ventures is proposed. The success prediction model is extended with measurable variables. Interviews with company owners are conducted to gather initial opinions, to identify possible gaps and to revise the model. Initial results and feedback from the interviews are presented, analyzed and compared to the model to draw conclusions and to make improvements. A survey to statistically validate the success prediction model is currently in progress.

Authors: Yankov, B. Continue reading

Overview of Success Prediction Models for New Ventures

Abstract:  An overview of 42 success prediction models for new ventures is presented. Major success factors are identified and a sequence of development of models is analyzed. A successful model pattern is identified containing industry structure, company strategy and interaction of strategy with structure. Alternative success prediction models are presented. A venture creation process and system models are analyzed. A new venture creation process model is proposed and utilized to analyze existing models. Common venture creation barriers and strategies to minimizing their impact on start-up companies are presented. Best practices for designing success prediction models are identified.

Authors: Yankov, B. Continue reading