Aaron Vick

If you follow the world of startups, you’re probably already familiar with the concept of unicorn startups. After all, it’s the ultimate dream of many a startup founder for their venture to reach these heights – a valuation of $1 billion or more. There are plenty of household names in this exclusive club, from on-demand superstars like Uber and Airbnb, to social networks like Pinterest and Reddit, and even space exploration pioneers SpaceX.

However, it’s not easy to become this successful. It takes an uncommon mixture of innovation, business acumen, and a fair amount of luck to grow a tiny business into a formidable enterprise. And although unicorns are becoming more common as the years go by, new startups are still far more likely to fail than become unicorns. Even for startups who have successfully raised venture capital, the chance of earning such a high valuation is less than 1%.

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