1. The Engineering Question Can you create breakthrough technology instead of incremental improvements? 2. The Timing Question Is now the right time to start your particular business? 3. The Monopoly Question Are you starting with a big share of a small market? 4. The People Question Do you have the right team? 5. The Distribution Question Do you have

For those seeking venture capital, it is a pretty standard minimum bar to get to $1 billion in valuation over ten years, but there’s no reason why it couldn’t be dialed down if the plan is to bootstrap a business or to only use angel investment.

Startups with highly differentiated products were more likely to become billion-dollar companies—like Nest, which turned the idea of a thermostat on its head. Painkillers were more likely to become billion-dollar startups, but vitamin pills that created a habit or strong brand worked too. Startups that created a product to save their customers time