Typically, there are five categories that determine success: great ideas, a strong team, good timing, a solid business model, and funding. Quiz yourself and try to order these in order of most important to least important.
Steven Johnson is an entrepreneur, journalist and author of multiple best-selling books in the field of popular science. Here he explains how it's not only a hunch that's necessary to develop a million-dollar idea, but rather a collision of hunches.
Daniel Kahneman, psychologist and Nobel Prize winner in economic science, discusses the decision-making highlight pitfalls people commonly fall into that set them up for failure. The biggest of these is focusing too much on outcomes instead of improvement.
In this world there are two types of individuals: givers and takers. As the names suggest, givers give freely of themselves and their time, willing to help whoever needs it. Takers, as the name equally suggest, are in it for themselves. They first figure out their piece of the pie, and worry about others only after, if ever.
Kaihan Krippendorff has been at the forefront of business innovation and developing business models that can keep up with the rapidly-changing business world. His newest model is the 8P Business Model Design Framework. It blends together traditional aspects, such as price, product, promotion and place, then adds new components to make it viable.