Is there any one reason why startups are successful?

Surely the answer is a great idea, right? Actually, the idea is only the third most important factor, according to Bill Gross, CEO of Idealab.

Bill studied two hundred startups, including a hundred companies he founded, like CitySearch and eToys, looking for a common theme and the results were quite surprising.

Bill rated the two hundred companies in his study according to five different criteria – The idea, team, business model, funding and timing. He found that overwhelmingly the most important factor in a startup’s success is timing, accounting for 42% of the difference between success and failure.

How found that timing was crucial for apps like Uber and Airbnb, which were both released during the global financial crisis when people needed extra money. Timing was also crucial for YouTube, which was released at the same time as high speed internet was gaining traction and streaming software was improving, making online video streaming far more accessible.

Team and execution came in second at 32% and idea third at 28%.

So, have you got a great app idea? More importantly, is the timing right for your app idea? It could mean the difference between success and failure.

Contact DreamWalk now to discuss the viability of your app idea now before moving into app development.


Category: App Developer

Got an app idea?

Book in a FREE discovery session today to discuss your options.

What to read next

Try one of these insightful DreamWalk articles 

Fast iPhone app development - DreamWalk Proof Program

Investors want proof 

In this article we look at what investors are looking for and when the right time to approach them is.

20 Tough tips for new app startups

20 Tough Tips for App Startups

Some tough tips for new app entrepreneurs by DreamWalk founder and user engagement expert Joseph Russell. 

20 Tough tips for new app startups

100,000 Users Over Night

A blow-by blow app marketing case study following the launch of popular music app, Jam.

Before you go! Get the FREE Beginner's Guide to Choosing an App Developer

Before you go! Get the FREE Beginner's Guide to Choosing an App Developer

Choosing a developer is tough but this guide will point you in the right direction. Just enter your email address below and we'll send it to you within minutes. 

Your Beginner's Guide is on its way. Check your email shortly!