I would add one more which actually should maybe be the first one … Create a product/service that people actually need and want to use. Not just some people, but A LOT of people. Too many business wanna-bees have great ideas, but their market is thin or all but non-existent.

Lots of businesses succeed even with all of the problems the author talks about. But a successful product can overcome a myriad of obstacles. Just look at the train wreck of WeWork.

The bottom line: If you have to “explain” what your offering/product is to people, if they cannot see “it” within the first 2–3 seconds, it’s going to be a lot tougher road.