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The Triangle for startup success

I have read many articles raising the matter of startups success and failure.

In Forbes you could read "Nine out of ten startups will fail" and in Fortune, the top reason for startups to fail is because “They make products no one wants.”

I got to consider the three pillar of any company: the team, the product and the cash. I called it the "Triangle for success".

The Triangle for startup success

The Triangle:

According to Euclide, the sum of three angles of any triangle is equal to 180 degrees. A startup is to me in the same situation.
When one of the angles is smaller, or weaker in this matter, it is fine as long as the other two are stronger.

Meaning, if you have a strong team and a sufficient amount of cash, it should not be an issue to develop a product or service. In case you have a good product/service or cash, you can always find quality people to join the project. And finally, if you have a strong team and a great product, investors will be more than willing to support your venture and solve your cash problem.

On the other hand, when two angles are missing, it becomes a real challenge. It is like fighting a battle on two sides. If you have a product but no team or cash, where to go and what to do? Or if you have cash but no team or product, why not using it for something else? Many questions and issues will raise.

The Spiral:

As nothing is ever stable in a startup, you should always seek for the right balance and focus to move forward.
The spiral can either grow or shrink.

When it grows, the resources available for the startup are expending. The next challenge might target a different angle. With new team members and a better product, the cash can become the next preoccupation. With a successful product and sufficient investment, it is probably time to recruit, etc.

The spiral might also shrink. At some point, it might mean a change in the strategy or a restructuration, or for the startups with the smallest size, it can also mean the end of the adventure.

Conclusion

Take time to analyze your current situation as a startup and see on which angle you are the strongest. Identify what is the next area of development to keep your triangle as equilateral as possible and expending!
No matter what, stay focus and communicate. As long as you have only one angle to concentrate most of your energy on, you can always find a solution for it.

All the best to all the entrepreneurs!

The Triangle for startup success

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