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"I believe that the startup organization is one of the greatest forms to make the world a better place. If you take a group of people with the right equity incentives and organize them in a startup, you can unlock human potential in a way never before possible. You get them to achieve unbelievable things."
Bill has been in businesses since 12 when selling candies in junior high school at the bus stop, from creating solar energy devices in high school, to college when he made loudspeakers. And when he graduated from college he started software companies.
In 1996, he founded IdeaLab, a technology incubator which has founded more than 150 companies over the last 26 years.
Bill, in an aim of understanding which factors determine the success or failure of a startup, tells us 5 essential elements that lead to success.
"Everybody has a plan until he gets punched in the face."
After analyzing 100 IdeaLab companies and 100 Non IdeaLab companies which succeeded and failed he concluded:
Airbnb f.e. was passed on by many smart investors because they thought: "No one's going to rent out a space in their home to a stranger."
This company came out right during the height of the recession when people really needed extra money.
That compensated the rejection to host strangers in exchange of a necessary money hence why it succeeded.
Other examples of right timing can be Uber & YouTube.
"Execution matters a lot, but timing might even more."
Business Administration and Management Student | Blockchain, DEFI & Web3 | Social Worker | "Fix the money & fix the world."
Get to know what Bill Gross discovered on success by analizing over 200 startups.
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