Success vs. failure. What makes the difference?
They say that in everybody there lies the possibility for greatness. The path to startup success begins with believing in yourself and your ideas and having the will and desire to pursue them and create something larger than yourself.
At the same time, there is no assurance that your business ideas are going to automatically meet with success. Achieving greatness also requires having the right travelling companions to guide and assist you along the way.
Apart from having a disruptive or transformative idea, it is essential to have a sound knowledge about the best startup practices. And accessing information about what works – and what does not work – in any given market is critical for your idea to go forward.
Ultimately only 1 in 12 startups will ultimately succeed, with 70% of failures occurring during years two to five.
And while every startup’s situation is unique, with many dynamics beyond their control, there are certain factors where these companies can exert a positive influence over their destinies:
- Assembling a top-notch communication team around your idea from the get-go significantly increases the chance of success for startups.
- Locating your team in a workspace that fosters collaboration and where people can learn and feed off each other’s creativity creates an environment conducive to success.
- Establishing the right partnerships helps startups validate and improve their product effectively and quickly which is crucial for scale.
Havas Startup Accelerator has developed unique solutions around these factors to maximise the potential for success for startups.