After studying and analyzing 350 different startup companies over a four year period, a research team from PWC found there are ten rules of thumb which increase the chances of long-term success for a new company. Read below the 0 Critical Factors That Will Make or Break a New Company
1. Start with a group of at least three or four founders.
2. Get a marketing person on your founder's team.
3. Build a network of talented people around you.
4. Concentrate on creating value, not exit strategy.
5. Manage your cash with financial discipline.
6. Target a market which already exists.
7. Find a great first customer you can leverage.
8. Build a board who actually solve problems.
9. Make your offering unique and then brand it.
10. Be passionate and enjoy the ride.
"Simply following these ten rules of thumb will not guarantee success. You need good ideas and you need good timing. You need money and you need the ability to generate enthusiasm. You need energy - and the capacity to work long hours and stay up late. Still, after years of research, we can say that if you follow these ten rules of thumb, your chances of success are certain to increase."
We hope that you found our article on the 10 Critical Factors That Will Make or Break a New Company useful and you will follow them accordingly.
