In the last CACM Michael A. Cusumano has presented a very interesting checklist for evaluating startups. According to the author the key elements of a startup success are:
- A Strong Management Team
- An Attractive Market
- A Compelling New Product or Service
- Strong Evidence of Customer Interest
- Overcoming the "Credibility Gap"
- Demonstrating Early Growth and Profit Potential
- Flexibility in Strategy and Technology
- Potential for a Large Investor Payoff
If you're a startup founder or just evaluating a business idea, I recommend you dearly to check your startup or idea against this list. If you have all the marks, you're on the good path to something big. If not, you better start fixing your week points or all your hard work might go in vain.