Words need to be precise and well defined before it is being used. There is a huge difference between a startup and a business. A startup is an ideation which when turned into a sustainable execution becomes a business.
A startup can be defined as a very specific type of company which is in its early stage, startups are more focused. They need to be creative and innovative which can be turned down to a success business model in future. Startups have no boundary, they do not obey the rules set by other, and they do things out of the box.
The ultimate aim of a startup is to be locked down in to a sustainable business model. But not every startup is able to achieve this because of lack for foresightedness. Not every new business is a startup neither all the booming internet companies are. The one which stands out among the thousand noise makers in the market with their greatest innovations, are the ones which can be called as startups.
Internet is a baby, there’s a gold rush and everyone is joining. So we hear every day that many startups are booming like population boom. But every internet company also cannot be termed as a startup. They are just jumping in for the sake of bucks not to bring any changes.
When thinking about a startup, it seems cooler than anything. But when an actual startup is done it becomes the toughest job in the world. Sustaining the competition, making a source of revenue is the hardest part of a startup. Every startup needs revenue to continue with its products or services, without finding a source of revenue, the startup will remain in startup phase forever, and can’t be converted to a business which is the ultimate aim.
Startup not only focuses on turning itself into a business, but also it has to make something that people actually value. That will contribute something to the society and will give value for money to its customers. They should make something that people will love and want, only making a product that people will love won’t get the startups to be scaled up, they need to make something that can be sold to the potential customers.
A startup should make a loud buzz in whatever industry it is in. This is the sign that a real innovation is making its way to be the next big thing in the entrepreneurial economy. Companies like Tumblr or Pinterest may not be highly profitable, but they have created a buzz in the internet. They made changes to the lifestyle of many.
Startups are never made by an individual; it’s a bunch of semi-like-minded people collaborating for something new that can bring changes to the lifestyle and make it easy.
