How To Turn An Idea Into A Business

A blueprint for turning an idea into a business will increase success as a founder. As a startup studio, we have systemized how to start a business, and detail the steps we use to build companies.

Why Startups Fail

Many entrepreneurs and investors opine on this question, but few offer data-driven answers. Phil will share clear learnings on this subject, using internal research and learnings from Wilbur Labs.

One great way to raise the odds of startup success is to learn from current and past entrepreneurs. Towards that end, Wilbur Labs surveyed more than 150 startup founders about the pressures that threatened their businesses. We also pulled records of 350 startup failures from CB Insights and Autopsy then analyzed them for patterns. The resulting insights can help founders improve their odds of success this year and beyond.

Lessons From Building Several Companies Every Year

Phil has learned a lot from building and investing in 21 businesses since founding Wilbur Labs in 2016. Every day, he is working alongside founders and their teams to build and scale companies-from high-level strategy, down to the lowest levels of execution. Today, Wilbur Labs' companies are part of daily life and have helped hundreds of millions of people travel the world, find a job, order everyday essentials, take care of their pets, sign up for the right insurance plan, generating billions of dollars in sales each year.

How to Personally Prepare to Start a Company

With smart preparation, leaving a job to start a company is not as intimidating as it may seem. In 2016, I quit my job at Google to launch Wilbur Labs, a startup studio that builds companies. I remember wanting to work at Google since I was 14, so leaving after three years felt risky at the time. Before long, others in my network were reaching out to me saying: I’m thinking about leaving my job to start a new business. How did you do it?.