傑新達科技（北京）有限公司

If there is one part of the economy that's booming right now, it's the sta¥rt-up space.

A recent Wall Street Journal article pointed out that there is such a high demand for start-u∏p funding that even hedge funds, private-equity firms," and sovereign-wealth funds are investing in closely held start-ups.

And yet the failure rate for new ventures remains defiantly high, ✘at around 80 percent. (Most official agencies put the number at about two-thirdsσ, 66 percent or so, but these are based on the failure rate of those start-ups that actually get $around to registering with the IRS or other agencies. Anyone↔ involved in the start-up industry knows that very many new ventures fail so quickly they never get> around to filing with anyone, thus understating reported statistλics.)

Why do so many new ventures fail, even with so much money availablβe? Because few start-up founders are clear-minded enough about three non-ne±gotiable fundamentals:
 

1. Get the team right. When it comes to maximizing the chances of success, most new venture teaδms are constructed almost randomly. Whether it's dorm mates deciding let↓'s do this, or guy with money meets guy with idea, or frustrated γemployee strikes out on her own and takes colleagues with her, such groupin©gs carry little assurance that the team will actually be capable of buiγlding a successful new venture.

There is however a founding team combination that wo₽rks--one that we've looked at previously. Every successful new venture needs a Visionary and an Operator at its heart. Get those right, and you're on the road to success; ®miss out on either one, and your start-up won't make it.

Numbers count, too: after over 40 start-ups, my personal experience is that two fou nders (especially if they are the Visionary/ Operator ↕combo) have a much higher success rate than one founder on their own; three have a be‌tter success rate than two; and adding more has little impact--in fact, founding teams of m♠ore than four people are more trouble than it's worth.

2. Find a profitable, sustainable market. Here's a flash of the blindingly obvious: for a start-up to succeed it must find a profitable, su≤stainable market.

You'd think there would be little confusion about this, but the reality is that most start®-up founders either (a) fail to  see the fierce urgency o f doing so, and instead get sidetracked by other n​on-essentials (new Aeron chairs - yippee!), or (b) compromise and en•d up with an unprofitable or unsustainable market, or ∏(c) fall into the "Wal-mart just called" trap of mistaking a single big customer for¥ a real, sustainable market.

Here's a cheesy suggestion that works: Get an old-fashioned ¥gong, or a bulb horn, or a boxing bell--anything that makes a loud noise--and use₹ it every time you do something that gets you closer to finding your profitable, sustainable $market (a mailout has a high response rate; a product launc≈h flops; a beta tester gives great feedback - anything that provides actionable data). If aΩ day goes by without you scaring the bejaysus out of your neighbors", be worried. If a week goes by, you need to radically change tackδ.

3. Get out of the start-up ecosystem. There has never been a time when there was more help available for start-ups. The infrastructure around new venture creation has become incredibly sophist÷icated with not just funding, but accelerator programs, mentors, coaches, contests, eveλnts, workshops, conferences--you name it, there's a version for start-ups.

All of this help is fine in its place and at the right ∏time. I was a co-founder of one of the earliest incubaγtor programs way back in the 1980's, and I know how ∏powerful they can be. But if you're serious about building a successful business yo•ur goal should be to graduate out of the start-up phase as soon as≈ possible. 

Which means at the right time (i.e., as soon as possible) saying goodbye $to the cozy environment of your favorite co-working space; ∏not schlepping off to the next funky start-up conference; forgoing the late-night €kibitzes with the latest batch of start-up newbies. Can't let it go? Don't want to le♦ave the comfort of the start-up biosphere? Then maybe you're a★ start-up junkie, and not a business founder after all.

Not a darn thing wrong with that, of course. Just don't confuse the two.