Asked by Madeline Lombardo on Jul 16, 2024
Verified
Research indicates that if an idea is not turned into a going concern within six months,the chances of a startup fall dramatically.
Going Concern
Going Concern is an accounting principle assuming that a business will continue to operate in the foreseeable future, implying it is not expected to liquidate or significantly curtail operations.
Startup
A young company founded to develop a unique product or service, bringing a new solution or innovation to the market.
- Comprehend the significance of time-to-market and its impact on a startup's success.
Verified Answer
EB
Ethan BrunetJul 22, 2024
Final Answer :
False
Explanation :
Research does not specify a universal timeframe like six months for the success rate of turning an idea into a going concern. The success of a startup depends on various factors including the industry, market conditions, the team's execution capabilities, and access to resources, rather than a fixed timeframe.
Learning Objectives
- Comprehend the significance of time-to-market and its impact on a startup's success.
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