There has been a lot of research on factors that help to explain why some start-ups become successful and their founders rich, and on the other hand why other start-ups fail terribly. Of course, starting up an enterprise is a complex activity dependent on institutional regulations, competitors, market developments and the simple recognition of the right opportunities at the right time. We know all of this, but still cannot accurately predict our chances of being successful as entrepreneur. There are some methods venture capitalists use, such as evaluating start-up teams and studying business plans. However, even after doing this, the chance of making a correct prediction is still lower than throwing a coin. Research has never been able to explain much of this complexity, but there are at least three factors that have repeatedly turned up when determining success and failure in the last few years. The first of these factors is a result of our tremendous technological development in the past few decades, but particularly in the most recent. In nearly all young enterprises, the utilization of social media and social networks has become a vital factor for survival and success. Many research results over the last few years have yielded the conclusion that social media are by far the most important platform for marketing products and services. To put this more scientifically, the diffusion of innovation is increasingly interlinked with social media. In addition, the recognition and...