7 Characteristics of Successful Startups

7 Characteristics of Successful Entrepreneurial Firms

By National Business Incubation Association (NBIA)

① An effective management team that works cooperatively and consists of members selected to provide a range of knowledge and skills.

Startup Founding Team

First Steps

② Sound financing, the earlier the better. Funding is directly related to a firm's success, and in some cases can be the deciding factor between a business venture's success and failure.

Venture Financing

Venture Financing Chain

Funding Stages

③ Principals who make business decisions based on a clear understanding of the market and the competition, rather than their own enchantment with their product or service.

Venture Management

9 Maxims of Venturing

④ Principals who keep on top of best business practices by surrounding themselves with knowledgeable people, remaining open to advice and ideas and being willing and ready to make changes based on new information

Disruptive Innopreneur

Entrepreneurial Success

High Profits

⑤ A well-researched business plan that provides clear direction and focus

3 Success Stories of Innompic Startups

⑥ Principals who are good money managers and remain in control of the venture's books

Enemies of Startups
Better Cash Flow

⑦ Entrepreneurs who are passionate about their ventures and communicate that excitement to potential investors, customers and mentors

Venturepreneur

5 Rules

Venture Marketer