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Neha PalTop Contributor
Content Writer|| ENGINEER||
Asked a question last year

How big a factor is luck in startup success?

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 Luck plays a big part, but to have a successful startup you also need to have put yourself in the position to exploit the luck when it happens.
Basically startups success depends on great timing, idea, and execution….which is automatically followed by the luck. Luck is all about timing if you do right things in right time in a right manner then automatically things will fall at your place. You must have knowledge and skills for being lucky. You cannot just sit and think.

Startups get into the picture when the service and product they are providing are driven up with passion, quality, vision,team-work and persistence and consistency of the founding team and the talent their teams withhold. And on the other hand, luck is random, selective, chaotic, arbitrary and seemingly beyond one’s control. We can’t conquer dreams just by believing one day we too can get lucky.

Startup outcomes can be attributed to varying amounts of luck as we can't control every possible variable needed to succeed but by focusing on continually learning and improving the variables that we can control like market timing and execution we can dramatically increase the chance of success and thereby mitigate the role luck plays in the success of a startup.