How to Measure Start-Up Success? A Systematic Review from a Multidimensional Perspective

Abstract

This paper conducts a systematic literature review on the measurement of success in the context of start-up firms. Given the absence of an in-depth explanation of start-up success and its measurement, a conceptual framework and a sample of questions were provided to understand the term further. Defining and conceptualizing start-up success is deemed as a strategic management concept that helps to align business operations with the organizational goals. Even though the term sounds simple and insightful, the inconsistency of measurements and diverse definitions to delineate the success concept leads to misguided circumstances. Therefore, this paper aims to present the multidimensional concepts of success to represent distinct dimensions in evaluating start-up success. There are two main constructs to assess success namely; financial and non-financial indicators. Indeed, this paper critically demonstrates the extent to which these dimensions are significant to be addressed in future studies specifically in the context of start-up firms.