Picking winners - hypothesis testing

Many people who start businesses for the first time do it for a whole host of reasons. Getting out of corporate life, inventing something and falling in love with it, or simply just wanting to have their own business. Possibly down the list of reasons is the opportunity they have identified has a real chance of making good money for them.

People who start new businesses who already have a business understand what is involved in setting one up and making it work. Perhaps the opportunity appraisal is at the top of their list of drivers.

Does the combination of experience and appraisal mean that existing business owners are more likely to be successful?

Statistics suggest that this is true - hence having someone in your team who has previous business experience is very valuable.

It is not foolproof - methods that work for one business do not always repeat. There is just a greater likelihood of them working.

We are interested in collecting data at the moment about drivers to start up new businesses and then monitoring how key decisions are being made. If you are interested in being part of the study - do get in touch.