Timing – The Most Crucial Ingredient in a Startup Success Recipe

startup development

startup developmentAccording to most entrepreneurs, 90% of modern startups fail.

There a reasons behind every startup failure. Some startups fail due to unmet expectations: products did not meet the target market’s needs, lack of funding money or slow revenues. Other startup failure factors involve employee trouble, lack of innovation, and technological errors in operations.

One way or another, startup businesses are bound to experience downs. GSVlabs states that startup failures appear out of nowhere and sometimes cannot be helped. While there’s no such thing as the perfect business, one crucial factor can make or break your business: TIMING.

Why mind the timing for startup development

Imagine the perfect business in your head: great business strategies, a cooperative and knowledgeable team, and endless funding for all of your efforts. You come up with an idea for your business but you release it to consumers too early. Chances are your potential clients will not immediately accept your proposal. If the idea arrives too late, competitors already enjoy a head start.

On the other hand, even if you lack some aspects for your startup but practice perfect timing, the results are far off from the other scenario. People willingly accept your innovative idea before anyone else brings it up.

Why you can’t ignore the need for timing

Paying attention to crucial elements such as employees and business strategies is a must for successful business startups. Unfortunately, these factors cannot substitute the need for proper timing. While having good capital and business model is crucial for success, knowing when to apply and not to apply strategies goes a long way in developing startups.

Know the basics, know your timing

There is no definite scientific process in determining the right timing for your startup business. Turn to market research and know more about your target demographics. This helps you identify the right timing for product releases and other timing essentials. Competitive research also provides you an insight into your opponent’s clockwork. Know their timing strategies and figure out how you can surpass their efforts.

Timing is everything. When you hit it right, every aspect in your startup business will fall into its proper place.