Timing: The Make or Break for Start-Ups

Timing is everything, so why does it rank so low in importance for start-ups?

Start-ups appear just as quick as they disappear, so what is it that makes them or breaks them? Timing. Not luck. Luck is something which is either in your destiny or not. You cannot create it or control it for your benefit. Timing on the other hand can be observed, acted upon, and utilised to maximise the probability for success. Yet, it doesn’t register as a critical success factor for the majority of start-ups in their go to market strategy.

Timing can make or break it. Whether it’s a proposal, negotiation or product launch, timing will have the greatest influence on its likelihood for success. A great idea just isn’t enough.

When launching a new business, concept, or product, you first tend to look at the idea, target market, competition, cashflow etc but unfortunately timing is often overlooked. Launching an idea too early or too late can have the same effect, disaster. So how is timing the single greatest influence on you and your business?

Consideration

Timing is relevant to you personally and professionally. Do you have the physical time to commit to launching a start up? Will this effect your professional growth or where you are in your career? If your field of work does not allow you to take a hiatus, to focus on other projects, this could set you back. Financially can you afford at this very moment in time, to step away from a guaranteed salary in lieu of uncertain earnings. These points deserve thorough consideration.

Dedication

Now it comes to actually launching the start up. Choosing your point of entry to market is critical, in getting the timing just right. Get it right, and even an average idea can flourish. Is the market ready for your concept or product? Is there evidence to support that there is demand for it? Is there a trend which you can take advantage of? Knowledge is power and dedicating sufficient resources in obtaining knowledge will be invaluable in the long run.

Observation

Research and analysis play a vital role in validating the need for a new concept or product. Independent research, specialised research and feasibility studies will help to build your knowledge base and aid decision making. Similarly, following market trends, industry leaders and peers proves useful. Networking and social engagement platforms are where trends usually first appear. Listen to the market chatter, be curious and observe closely what moves are being made. First-hand research combined with market research and surveys will give you a holistic view of the market environment you intend to enter, so you can better time your entry.

Execution

Analysing your competition through research and analysis will help to validate your competitive edge and design your customer acquisition strategy. Being time sensitive to your customers’ preferences will aid in positioning your idea so it is received favourably. Engaging with your target audience requires time consideration in terms of frequency and outreach. Timing is everything, but waiting is not the answer. There will never be a perfect time but there are ways for you to create the most ideal timing for launching your star-up. Timing your execution is paramount to your success.

Give your start-up every opportunity to make it, not break it!

Prioritise your timing with consideration, observation, dedication and execution.