What are the key ingredients for entrepreneurial success; the “A” team, VC funding, killer app, luck or maybe something else?
I’d like to speculate that the three key ingredients for success (lets define success shortly too) in business are time, money and persistence. Success is defined as getting your business to cash flow positive in two years while boot strapping your company. Cash flow positive in the first two years is perhaps a much loftier goal than it first appears.
For arguments sake you would likely need one years’ worth of operating income to bootstrap a business in two years. Therefore let’s assume that you have money from the equation. That leaves you with time and persistence.