Why is timing so important for startups?
For years I’ve been talking about the three timing options for startups:
- You can be a little late – in which case, your always chasing the market leaders
- You can be just a little early – this would be the ideal timing. Usually this means your product is behind and you end up in the number 1 slot above
- The last one is to be too early – too early is the worst because you (the Entrepreneur) has a vision for the future, but the market hasn’t caught up to you yet. Consequently, this is the most expensive option.
Here’s a great article from Chris Dixon
Entrepreneurs should always ask themselves “why will I succeed where others failed?” If the answer is simply “I’m doing it right” or “I’m smarter,” you are probably underestimating your antecedents, which were probably run by competent or even great entrepreneurs who did everything possible to succeed. Instead, your answer should include an explanation about why the timing is right – about some fundamental changes in the world that enable the idea you are pursuing to finally succeed. If the necessary conditions were in place, say, a year ago, that might still be OK