What Factors Lead To the Likely Success of an Entrepreneurial Business?

Video Transcript

I think there are four factors that help entrepreneurs succeed at their enterprises. The first is an outstanding team. And if you think about that, early on investors have nothing to invest in other than the quality of the people that they’re involved with. So really focused on having a world-class team that’s part of your company. Entrepreneurial businesses face many challenges and needs that have legal components. We are adept at solving these needs and challenges. Avisen Legal helps clients, in every aspect of business needs.

Secondly, you really need a great idea. You can have wonderful people, but if you don’t have something that’s intellectually protectable, or first to market and something that can scale to a large enough opportunity and venture for investors to be interested in, it’s not going to be the right place to be.

Third, you’re going to need to raise enough capital. What enough is, is different for every single business. It’s never easy to raise that capital, but you’re going to need it to be able to grow your business. And whether you get that from investors, or you’re fortunate enough to be able to use your own capital to do that, either way, the money is going to need to be there to succeed where you want to go.

And finally, you need an awful lot of luck. You can be a great entrepreneur and work very, very, very hard, have a super idea, and still not succeed if you just don’t have some luck. And let’s face it, luck is where hard work meets opportunity. And let’s hope you have lots of that.