Can You Use Risk Analysis to Predict Startup Success?

Rameet Chawla had a career in finance, in which he primarily analyzed risk. He was ready to leave finance and wanted to do something new in the tech world. But one thing stood in his way.

"Starting a technology startup was fairly high-risk," he says. "It was questionable whether I wanted to do my own startup because I knew the chances of success were really slim."

He analyzed the ways in which a business could be more successful, and noted that a service company traditionally had a higher probability for success than a typical product startup. He developed the idea for Fueled, a mobile app development firm that would take a brand's idea and bring it to life, typically on mobile platforms. He applied the agency model, in which his team would create multiple projects for multiple people. But he didn't have a team (until he found freelancers on Craigslist), and he didn't have clients. So he hustled. Read more...