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Questions and Answers
True or false:Timing is the most important factor in startup success.
True
True or false: Business model is the most important factor in startup success.
False
True or false: Many startups fail despite having the potential for success.
True
True or false: The idea for a startup is the most important factor in its success.
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True or false: Airbnb, Uber, Citysearch, and YouTube are examples of successful startups with good timing.
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True or false: Z.com is an example of a successful startup with good timing.
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True or false: Execution and idea are more important than timing in startup success.
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True or false: Startups can change the world.
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True or false: There are only four factors that contribute to startup success.
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True or false: Knowing the factors that contribute to startup success can increase success rates.
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Study Notes
- Startup organization is a great way to make the world a better place
- Many startups fail despite the potential for success
- Five factors that contribute to startup success: idea, team, business model, funding, and timing
- Timing accounted for 42% of the difference between success and failure
- Team and execution came in second, and the idea came in third
- Business model and funding are less important than timing, team, and idea
- Examples of successful startups with good timing: Airbnb, Uber, Citysearch, and YouTube
- Examples of failed startups with bad timing: Z.com
- Execution and idea are important, but timing might matter even more
- Startups can change the world, and these insights can increase success rates.
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