Excerpted By: TimoStevens (2009)
According to William Graylin (Founder & CEO of Way Systems Inc), the following elements are essential to the success of your new business:
1) Market Sauce – if you don’t have competitors, you probably don’t have a market.
2) Magic Sauce – you’ve got to have a strong, unique advantage that separates you from your competitors.
3) Money Model – many startup founders forget how important a good revenue model is to investors.
4) Management Team – you can make adjustments to the above 3, but without rock-solid people, you won’t get anywhere.
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