5 Secret keys to startup success by bill gross

If you want to start a successful business or you have already started a business and you need your business to be successful here are the powerful 5 secret keys to start up success by bill gross.

Who is bill gross

Bill gross is the founder of idealab, as business incubator that is focused on new ideas, he started business when he was twelve years old by selling candies, he has created many companies and failed and some succed so he started studying start ups business to see why some start ups are successful than others that was when he found out this powerful secret keys to start up success which I am about to share with you in this content.

Startup success secrets keys

In bill gross research he found out that the reason why many business fails and some succed are because of this five success keys.

1. Timing
2. Ideas
3. Funding
4. Business Model
5. Team

1. Timing

Bill gross said timing is very important more than the rest not because the other four keys are not important, he said if you the four keys at the wrong time your start up will fail Dan lock referred to this as a hungry market, bill gross talk about a story of when he started z.com it was a nice idea he had funding, a good business model and great team but he tried everything he knows to do to keep his business going but with all efforts the business died but three years later Adobe came up with the same idea and their business was a success till date, Bill gross later observed that Adobe came to the market at the right time, that is why he said business timing matters the most.

2. Ideas

Before starting a business one of the first things you need even before establishing your business is ideas, you can not start a business without ideas before i continue let me explain what ideas is,

Ideas is a conception that is in your mind of something to be done or something you want to do, so what am saying is that what plan do you have for the business you want to start, how do you want to start it if you want to be selling products how do you want to market your products or even your services, incase you don't know how to market your products or services i have a wonderful content that talks about that, check out my powerful marketing strategy it will really help you in your business marketing journey, if you don\'t have an idea then my advise for you is to look for a job or if you already have a job then continue with the job because there is a 90% possibility that somebody is doing the business that you want to do or start and if you don't have an idea on how to make your business unique then your competitors will take you out of business, because business is competitive your idea must be unique and different from that of others, so get idea first before starting your business, if you check out all the great companies that are making it they all started with an idea, examples of this companies are tiktok, apple, reddit, microsoft etc, so get ideas first.

How to get ideas

1. Solving peoples problems:

 You can check for problems that people are going through maybe in their house, school, playground or anywhere and after finding their problems look for a way to solve their problems and by doing so you will see that a great idea will come to you, and you need to know that business is problem solving if you can not solve problems with your ideas then your ideas are not needed.

2. Buying ideas:

You can buy ideas from people, they are people that are selling their ideas, they have the ideas but they will not give it to you until you pay them, you can create an awareness that you are paying people that want to sell their ideas, if you find them and you find out that their ideas are good then you can pay them.

3. Asking people:

There are other people who have ideas but they are quite about it, so you can ask friends and family if maybe they have ideas for helping you to start your business.

3. Funding

Funding is very important because without funding you will run out of business, you know it is statically proven that majority of startups failed because of lack of funding for their business, when there is no money in a startup it will definitely fail that is why funding is also one of the keys to success for startups. 

Funding is very good because you need funds to buy land, build your business place, create ads, buy products etc for your business if there is no funding for your business then you can not implement your ideas there will be no room for right timing because your business is not real yet, so you need funding because you can not start a business for free you need to get a capital for your business if you don't have funding for your business you can try

1. getting a loan that is 

 i. if you know how to use loan.

 ii. if you are sure that you have a hungry market waiting for your products or services.

 aside this please don\'t collect loan, collecting loan is not advisable at all if not you are going to get into big problem at the end of the day.

2. getting investors to invest in your business

i. talk to friends and family to help you with money for starting your business.

4. Business Model

Business model describes how an individual or company captures, create and delivers value to the people, you can do this by branding your business some times this might be the missing link to making your business a successful because all successful and great business have a business model, this tips for successful business is what will create differentiation for your business if you don\'t understand what i mean by differentiation you can check out this content business marketing strategy. 

5. Team

If your business is not a sole proprietorship business then you really need good team, jack ma the founder of alibaba company in china said that one of the reason for the success of his business was because of the good team that he has, when you have a good team you make the work of the business more faster and simple than when you alone do everything which at some point in time might be very stressful for you alone, the bible says "one will chase a thousand two will chase ten thousand", so you see the power of team, if you have the right team you have higher chances of greater achievement in shorter time in your business.

Conclusion

You need all this five keys to have a successful startups, if you want to start up a business study this five keys very well check the idea of the business, the timing, business model, team and funding if all of this are good and ready then you are good to go for your startup.

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