Entrepreneurs armed with a succinct, cohesive business plan for a start-up that's first to market stand the best shot. But it's no guarantee. Though millions of customers are potentially only a click away, building an infrastructure to reach and handle that much demand is expensive. If you get the money, it's show time. And too many companies get the execution wrong.
Bad starts are fatal because online consumers are notoriously fickle and demanding.
Sites that irritate consumers get little repeat business. Most execution mistakes occur because entrepreneurs often don't understand such business fundamentals as finance, marketing, distribution and inventory. So you better have a few team members who understand basic business economics. In Europe, top candidates are in short supply. Should you be lucky enough to find the right people, affording them can be problematic.