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Why do businesses succeed?

There are many reasons for business success and failure. And based on the tens of millions of articles on Google, every man and his dog has an opinion.

But it feels like a lot of articles offer quite trite statements about determination or vision or planning or customer knowledge

That said, I very much like this short article in The Guardian, not least because the author reckons that “[saying] small businesses fail because they run out of cash…is like saying “the patient died because he or she stopped breathing.””

Bill Gross on Business Success

However, there’s one piece of content that has really caught my eye; and that’s the talk Bill Gross, founder of IdeaLab, delivered at TED. The question of success has plagued him for some time and he did some research into it, looking at five factors:

  • The Idea
  • The Team, Execution & Adaptability
  • The Business Model
  • Funding
  • Timing

And he discovered there is one big winner! I won’t spoil his big reveal. And I highly recommend you spend the 6mins 40secs it takes to watch the talk!

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Float is an award-winning cash flow forecasting and management software for Xero, QuickBooks Online, and FreeAgent.