Startup was always suffering from the lack of certain and clear definition even maybe most of us know that Instagram and Pinterest for example started as a startup business then turned to be the most famous applications in the whole world.
So we can start by asking that “Always the first” question:
What’s the startup business?
It’s said that one of the most famous definitions for the startups is the one said by Eris Ries, The creator of The Lean Startup Methdology
“A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.”
But for me I think of this definition as vague words that is not helping in the progress of understanding the nature of the startups.
So we can simplify the definition by saying that:
A Startup is a company or a project in its early stages of the development, This sort of projects usually established by 1-3 founders who seek to build their profit upon the market demand through developing a viable product or service.
The fund of the startups came mainly in these first phases from the founders themselves in some cases and in the others they manage to find an investor to cover their project’s financial needs.
Startups also is defined by an important feature which is “Focus on growth”, As they usually keen on keep their growth rate high because it’s considered a core interest to become a large business not only a small one.
Another feature in the startups is that You will not make money in the early stages or at least you will not make enough money, these phases may last for a longer time. So if you want to make money in days you can get a job, not a startup business.
Third feature of the startups can be the one focusing on the starting point of the venture. Startup business must start from Scratch, Where the founders made their way in the market from zero until they achieve their required position.
So if you have ever met a business that sums up these features in addition to other factors such as the number of the employees and independency you can call it a Startup Business.
So by now while we knew the meaning of the startup business, the next reasonable step is to know
How To Start Your Business?
Unfortunately the passion and knowledge is not enough in the real life to initiate your startup business.
Whatever, you need to be sure of applying some essential steps in order to setup your business knowing that starting a business from scratch is not an easy mission and requires a lot from you. But also it’s considered the most exciting phase in you will ever experience, you will feel the success of overcoming the obstacles.