The Attributes of a Succesful Startup
I recently read an article on the alumni of PayPal and their recent successful endeavors. The repertoire of companies that the PayPal alumni have gone on to either help fund or create is mind-boggling. YouTube, Yelp, LinkedIn, and Facebook just to name a few.
The monopoly of startups and websites affiliated with the PayPal employees has given them the nickname "the PayPal Mafia."
The author of the article went on to ask the reader what factors he or she thought contributed to the immense success of these entrepreneurs and answered the question with four basic criteria that PayPal met.
1. They hired great people who fostered a creative and efficient work environment.
2. They solved a big problem that consumers encountered.
3. They endured bumps in the road that often times have the power to eliminate start-ups.
4. They chased their vision and executed.
After reading the four main factors that attributed to the success of PayPal in detail, I couldn't help but be inspired and extremely optimistic for the future of coolproducts.com. We solve a huge problem for online consumers by finding them gifts that are personal and perfect for either themselves or the person being bought for. Our work environment places no limit on creativity, making the huge goals we have for 2012 seem feasible for the employees here at coolproducts.com.