Definition #1“A startup company or startup is acompany with a limited operatinghistory. These companies, generallynewly created, are in a phase ofdevelopment and research formarkets. “- Wikipedia
Definition #2“A startup is NOT every new business venture(actually, it is but this is not the way we use theterm anymore). It is a new techventure, internetrelated mostly, that has thepotential of rapid growththrough servicing new market segmentsand/or offering new product/services”- Quote taken from Quora.com
Definition #3”A startup is theorganization used tosearch for a scalablebusiness model”– Steve Blank
How startups are different thantraditional businesses?
Comparison #1 (Steve Blank)Small businesses Scalable startup• Business model found • Designed to grow big• Profitable business • Huge uncertainty• Existing team • Typically needs risk• Not all the businesses capital of internet age are • These companies are ”scalable startups” the real startups
Comparison #3 (Steve Blank)Business plan Business model• Static-document • Can be iterated quickly• ”No business plan • Shows how company survises the first creates, delivers and customer contact” captures value• Focus on planning not • Focus on execution and execution how to make money