Have you ever wondered which factors make a successful startup stand out? I have prepared a model that lists the factors of importance for the success of young companies.
Entrepreneurial Team
- Personality and Values
- Authonomy
- Confidence
- Initiative
- Locus of Control
- Need for Achievement
- Risk-taking Propensity
- Tolerance of Ambiguity
- Skills and Experience
- Entrepreneurship Skills
- Management Skills
- Marketing Skills
- Technical Skills
- Human Resources Skills
- Investment Skills
- Start-up Experience
- Experience in Similar Position
- Industry Experience
- General Management Experience
- Formal Education
- Field of Education
- Age of Entrepreneur
- Entrepreneurial Parents
- Teamwork
- Team Completeness
- Team Knowledge
- Team Skill
- Team Attitude
Business Strategy
- Planning
- Breadth of Planning Efforts
- Depth of Planning Efforts
- Formality of Strategic Planning
- Frequency of Planning
- Functional Area Planning
- Consideration of Multiple Alternatives
- Competitor Analysis
- Goals
- Ambitiousness of Goals
- Target Market Share
- Target Profitability
- Strategic Direction
- Ability to Maintain Initial Strategy
- Aggressiveness of Strategy
- Breadth of Strategy
- Clarity of Strategy
- Entry Strategy
- Type of Market Entry
- Order of Entry
- Product Adoption
- Competitive Advantage
- Presence of Clear Competitive Advantage
- Type of Competitive Advantage
- Strategic Partnerships
- Alliances with Competitors
- Alliances with Customers
- Alliances with Government
- Alliances with Suppliers
- Alliances with Other Stakeholders
Industry Structure
- Structural Characteristics
- Entry Barriers
- Exit Barriers
- Indudtry Profitability
- Industry Value Added
- Industry Failure Rate
- Stability of Demand
- Industry Size
- Industry Growth Rate
- Industry Chrisis
- Industry Predictability
- Key Success Factors for the Business
- Industry Sector
- Stage of Industry Evolution
- Industry Rivalry
- Level of Competition
- Aggressiveness of Competitors
- Exposure to Competitive Attack
- Presence of Small Companies
- Nature of Buyers
- Concentration
- Heterogeneity
Resources
- Tangible Assets
- Equipment
- Inventories
- Real Estates
- Cash
- Intangible Assets
- Patents, Copyrights or Trademarks
- Brand Recognition
- Software Systems (ERP, CRM)
- Goodwill (Established Business Reputation)
- Product Designs
- Licenses
- Social Networks (Business Contacts)
- Access to Distribution Channels
- Access to Labor Markets
- Access to Capital Markets
- Access to Materials and Suppliers
- Funding
- Funding Source Used
Authors: Yankov, B.
Publication: Yankov, B.: Methodology for Bulgarian Technological Start-ups Success Prediction, Models and a software application for success prediction of start-up companies, Doctoral Dissertation, Sofia (2015)
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