Startups play an important role in today's economy as one of the greatest forms to make our world a better place. A team of people with the right incentives and vision, can unlock creative ideas and potential solutions in an incredible way which can drive value creation and economy growth.
Last 10 years, when i graduated from university, we started tech ideas companies, most of them failed, but we learned a lot from failures. So i looked across what factors accounted the most for the failure and success of a deliverable, wether it is a Product launching, a project delivery or even a 2 weeks sprint or a 6 weeks cycle. In a research study, Bill Gross quoted that:
Timing is the most important factor that influence startups success.
You need to start with an Idea and Execute it then Ship it when consumers need it. At this stage, you will start looking for a Business Model and Funding.
I used to think that idea is everything, yes that aha moment when you think that you've got the best idea that gonna change the world. The reality, is that ideas worth nothing and everyone can get ideas for free.
The team and execution matter more than ideas, when issues arrises in the surface, how to deal with problem solving? the business agility to getting punched from the competition and customers. Mike Tyson once said
Everyone has a plan until they get punched in the face.
The true reality is the market and customers, so does the company has clear path generating revenues? This is where i've failed so many times and where most entrepreneurs fails.
You have received your first seed investment, everything looks promising, a year has passed. you're having a successful beta or MVP with the customer, so time to receive funding, hire and scale the team, rent office space and servers infrastructure. You're looking for a series A investment from a VC, leading to a new Startup Value. If you find that Product Market fit, congratulation, you can continue the scale or sell your position, look for an exit and cache out.
When do you ship your Product matter the most, are you too early or late, do you respond to market needs on time?
Many investors looked at Airbnb as a failure, "no one is going to rent out his home to a stranger". But that company came right after the recession when people needed extra money. Being good at timing help customers to overcome their objection and choose your Product. Uber also was on time, on cities scaling and knowing when drivers needed that extra money to become a movement.
You have something you love and you want to push it forward, the Team, Execution and Funding matters a lot, Timing might matter even more, being synchronous is gold.
Ship on deadlines and serve consumers right when they needed it.