Detailed Model of a Successful Startup

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
Articles Entrepreneurship

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.