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)