Market timing - Startup failure and success
Luck is a strange, abstract concept that is widely mentioned by startup founders, business leaders and investors. In our experience, the definition of luck is proper market timing combined with an effective solution that is ready to go-to-market. Luck is never the reason behind founder's success, rather hard work that intersects opportunities due to market timing.
One of the few things we instill while mentoring startups is to watch Bill Gross's Ted Talk "The single biggest reason why startups succeed". If you haven't seen this Ted Talk, please do so now. It is a gloriously accurate study of the reasons startups fail which is based on quantifiable metrics. In summary, Bill's argument is that timing is the single biggest factor for success and we couldn't agree more. Being too early is as bad as being too late to market. The same holds true in the investment world. While taking part in helping numerous startups understand investor strategy, we have found one cord that investors strike in every presentation. Why now?
What makes your company uniquely positioned to take advantage of market conditions and timing is an important self-discovery process. More importantly, the entire narrative for a startup company should be build around a framework of understand market timing. How is this accomplished? That's the art of the business, not the science.