What makes you successful?

Business 'incubators' are designed to help fledgling businesses get support and access to resources to succeed. But does that work? What do you need to make your business a success? Do you need a complex (and maybe expensive) support network?

This post from the Sydney Morning Herald blog discusses the pro's and con's of government sponsored business incubators. It includes this key point:

Here lies a harsh reality: small and open markets, as opposed to closed and coddled regions, force businesses to think and act globally.

Many new ideas languish because they dont have a good connection with what the market wants. It is important for start-ups to have a sharp focus on market needs, and direct communication with their target audience.

In short, start-ups (and new business units of larger companies) need to be innovative and push through barriers, taking advantage of market opportunities. Waiting on help from others - be it an incubator or other advisors or partners - can often lead to a lack of responsibility on the part of the founders to take action.

Business incubators can provide valuable connections with universities, government agencies and business support services. The danger for startups joining the incubator is that founders may lose momentum and focus, whilst they deal with the various parties now involved in their venture.