The success factors of startups can vary depending on the development stage of the company. As the organization moves into the startup phase, the strategy, core team expertise and diversified knowledge become crucial. Various models have been proposed to understand the factors that contribute to the success of startups at different stages of their development. These models provide insights into the seed startup process, organization creation and exchange with the market [18,60]. It is important to note that the success factors in one phase may not necessarily guarantee success in other phases [67]. Additionally, the choice of financing sources for startups varies depending on their lifecycle stage and financial requirements [50]

Geographical location: The success factors of startup firms can vary depending on their location. Some literature suggests that the location is the only contextual driver that significantly impacts the growth of startups [19]. Furthermore, the location of startups, particularly in or near metropolitan areas, can provide more opportunities for the acquisition of formal external financing. The choice of location may also affect the growth of startups, as their proximity to their place of residence and access to knowledge and expertise in the regional context can play a role [63].

Industries: The success factors vary across different industries. For digital startups, individual factors such as social networks and higher education have been examined as performance factors. Meanwhile, in the creative industries, startups have been found to have a higher propensity for product innovation [132]. On the other hand, service startups may focus more on factors related to resources and competencies/capabilities. The success of service startups is closely related to the types of resources and competencies/capabilities that they have developed, and they thrive on customer-centric strategies, emphasizing effective service delivery [133].

Table 6. Aggregate impact of success factors for startups and success factor frequency histogram.

Figure 6. Success factor classification framework.

Factors that influence the success of startup firms and their regional emphasis.

Table 3. Definitions of success.

Table 4. Factors that influence the success of startup firms and their regional emphasis.

Figure 6. Success factor classification framework.

Table 6. Aggregate impact of success factors for startups and success factor frequency histogram.

Funding

Industries: The success factors vary across different industries. For digital startups,individual factors such as social networks and higher education have been examined asperformance factors. Meanwhile, in the creative industries, startups have been found tohave a higher propensity for product innovation [132 ]. On the other hand, service startupsmay focus more on factors related to resources and competencies/capabilities. The successof service startups is closely related to the types of resources and competencies/capabilities

significantly impacts the growth of startups [19]. Furthermore, the location of startups,particularly in or near metropolitan areas, can provide more opportunities for the acqui-sition of formal external financing. The choice of location may also affect the growth ofstartups, as their proximity to their place of residence and access to knowledge and ex-pertise in the regional context can play a role [64]. A study conducted in Poland, Hungaryand Lithuania found that, even though they have historical similarities in connectionwith the Soviet Union, the int

company. As the organization moves into the startup phase, the strategy, core team ex-pertise and diversified knowledge become crucial. Various models have been proposedto understand the factors that contribute to the success of startups at different stages oftheir development. These models provide insights into the seed startup process, organi-zation creation and exchange with the market [30,61]. It is important to note that thesuccess factors in one phase may not necessarily guarantee success in other phases [69].Additionally, the choice of financing sources for startups varies depending on theirlifecycle stage and financial requirements [51]The success factors evolve dynamically over a startup’s lifecycle. In the early stages,visionary leadership and adaptability are paramount in overcoming uncertainties [50]; asstartups mature, the emphasis shifts towards effective team management and strategicfinancial planning [61]. This temporal dynamic underscores the importance of agility andthe ability to recalibrate strategies in response to changing organizational needs. Alt-hough it is crucial to realize the determinants of success at each phase of a startup’slifecycle, it is equally important to acknowledge that specific success factors exert an in-fluence on the transition of the enterprise across the various stages of startup develop-ment. The following figure (Figure 7) shows the factors that influ

According to Tuesday's report, in 2020 nearly 15% of overall EU gas and 14% of oil consumption was used to make petrochemicals. The majority of that went towards the manufacture of plastics. The findings note, for example, that as much gas was used to make plastics, as was consumed overall by the Netherlands. 

Inversion can be particularly useful for challenging your own beliefs. It forces you to treat your decisions like a court of law. In court, the jury has to listen to both sides of the argument before making up their mind. Inversion helps you do something similar. What if the evidence disconfirmed what you believe? What if you tried to destroy the views that you cherish? Inversion prevents you from making up your mind after your first conclusion. It is a way to counteract the gravitational pull of confirmation bias.

Her famous line is, “We should be choosing what we want to keep, not what we want to get rid of.”

Imagine the most important goal or project you are working on right now. Now fast forward six months and assume the project or goal has failed. Tell the story of how it happened. What went wrong? What mistakes did you make? How did it fail? In other words, think of your main goal and ask yourself, “What could cause this to go horribly wrong?” This strategy is sometimes called the “kill the company” exercise in organizations because the goal is to spell out the exact ways the company could fail.