Business Startup Successes of 2008

http://www.thestartcompany.com/blog/2008/12/23/business-startup-successes-of-2008/?goback=.hom

In their article from Dec 19, 2008, BusinessWeek, gives a list of 25 most successful startups for 2008. While it was a dismal year  for most, some startups managed to raise significant capital to expand and pursue their goals.  More than $7 billion of venture capital money was invested into early stage companies in 2008 which is “more than any calendar year since the dot-com bubble burst in 2001.” 

Venture capitalists however aren’t prone to just sink their money wherever.  These were proven companies, many with senior management at the helm with decades of proven experience in their industry, and all had products and/or prototypes, and who, in major part, directed their efforts at solving global problems of climate change and disease. i.e. these were not just entrepreneurs with an idea.  

Sorting through all of the success stories, here is a list of principal characteristics which the businesses themselves claim was the key to their success.

1. have a solid business plan and stick to the deadlines
2. look to fill a critical need
3. innovate and collaborate
4. price your product appropriately
5. understand the business and your product
6. seek experts and hire good people
7. focus and use your time efficiently
8. set goals and pursue with passion and dedication
9. be opportunistic
10. think outside the box
11. track your finances and ROI
12. be persistent
13. listen to your customers

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