Marcel Eboa McIntosh opines that there are 5 mathematical formulas that predict startup success. In his own words: 1. Passion x Energy = Output Passion is great, but it takes sustained energy levels to product meaningful output. For example, entrepreneurs have new ideas all the time. But, it is only when sustained energy is applied that an actual business takes shape. 2. Output x Objectivity = Quality of Output Not everything you produce will be great. The more objective you are, the greater your ability to see the negatives in your output and fix them. This means that passion, without the yang of objectivity, may only produce low quality output. 3. Idea x Execution = Opportunity The opportunity resulting from the most basic of ideas can be magnified when executed perfectly. Take Pinterest for example. The idea of browsing snippets of web pages is simple. But, it was the perfect execution of that idea that turned it into a billion dollar opportunity. 4. Opportunity x Market = Size of Opportunity Chose your market carefully. When you solve a problem in a large market, execution risk and the need for the perfect idea is diminished. In other words, 1% of a billion dollar market is easier to achieve than 50% of a $20m market. 5. Size of Opportunity x Money x Creativity = Your Piece of Pie It takes money/resources to execute on a business idea. However, the need for money is diminished by your ability to get creative. Creativity is a substitute for money.
Posted on: Sat, 26 Jul 2014 11:57:37 +0000
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