In my last blog I talked about the difficulty of building new ventures without the umbrella of a large corporation. I said there were eight critical factors for success. Today, I am going to talk about the first two:
For most of my career I have been involved in building new businesses. Some have been within large corporations such as Citicorp, L’Oreal and the healthcare unit of old Lederle Labs. Some as an entrepreneur; some out on my own. And while all my stand-alone start-ups have been in different fields with different market forces affecting the dynamics of the business, there are a number of commonalities.