"It's time to ask yourself, what you believe?" (From Indiana Jones and the Last Crussade)
No matter what your company does, key success factors are universal:
Clearly defined goals: Business objectives must be summarised in few words.
Potentially large fast-growing markets: Large markets allow start-up companies for a greater error margin.
In-vivo better than in-vitro: Projects who are originated to satisfy a real market demand (in-vivo or market oriented) tend to be five times more successufl than projects who are originated to satisfy a potential demand that someone thought of in a lab (in-vitro or lab oriented). That doesn´t mean lab technology is not useful, it only means that is much better if it is part of a market oriented project.
Wealthy clients: Every solution has clients in various segments. When it comes to innovative solutions the capability of clients to pay is specially relevant.
Atractive and focused solutions: Clients buy simple services that solve only one problem.
Creativity: Be different. Different thinking, excellence for problem solving, innovative, contrarian and surprising solutions are essential for start-ups.
Competent, integrated and heterogeneous teams: Integrated teams are more efficient. Heterogeneous teams when integrated are more creative. Maximize the competence and excellence of your team through the integration of different and exceptional profiles.
Flexibility: Agility will allow you to beat large companies. In operating terms, this is your key strength to beat the big fishes.
Economy of war: Maximize profits, spare resources and prioritize in every moment to get to profitability. Whatever the project, always start with few economical resources to become disciplined. Launching a good solution in a potentially large market requires excellent teams and few economic resources.