To build a successful start-up, you need three things: competent employees to begin with, products that buyers truly want to buy, and little financial outlay. Start-ups are exciting and full of promises, but on the other hand, they are also risky and unclear. There are many wonderful ideas out there that somehow never take off, and on the other hand, there are many dubious concepts that achieve enormous success. The overall picture is thus a puzzle: You’ll find it difficult to identify any single factor that would make one business more successful than another when you look objectively at a list of successes and failures. That’s because there are numerous factors that contribute to success; there isn’t just one.
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