1) A startup is a newly created company that is working to develop and validate a scalable business model. Startups differ from traditional small businesses in that they have high growth potential but also face high uncertainty.
2) The most important assets of a startup are its founding team and business model. The business model describes how the organization creates, delivers, and captures value for customers.
3) Examples of common business models include direct sales, freemium, subscription, and razorblade models. A successful entrepreneur focuses on delivering value to customers rather than technology and executes the business model through planning and pivoting when needed.
5. Definition #1
“A startup company or startup is a
company with a limited operating
history. These companies, generally
newly created, are in a phase of
development and research for
markets. “
- Wikipedia
6. Definition #2
“A startup is NOT every new business venture
(actually, it is but this is not the way we use the
term anymore). It is a new tech
venture, internet
related mostly, that has the
potential of rapid growth
through servicing new market segments
and/or offering new product/services”
- Quote taken from Quora.com
7. Definition #3
”A startup is the
organization used to
search for a scalable
business model”
– Steve Blank
9. 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
11. 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