A great talk from Bill Gross who has been a lifelong entrepreneur since a young age and even to present day where he is behind many startups.
Since he was 12, we began by selling candy at bus stops.
As a teen, he was making and selling solar energy devices.
And since has gone on to create many startups with successful teams.
His main takeaway is that there are a few key elements to a successful startups, such as:
But what was the importance of each, as his study showed, it was TIMING that mattered most, meaning if you have an idea and are able to execute it at the right time, it will make the biggest difference. The idea is still core in terms of what will be done, and the team (which is the execution) but the timing makes a big difference… being too late (not acting on an idea) matters and also being too early (which can be assessed via feasibility review).