Startup Is Not The Same As A New Start Business
He differentiates between the two by writing:
A startup business – lacks a repeatable and scalable business model and lacks certainty.
A traditional business – proven many times before so you can take advantage of that information, research and learning which has been perfected, potentially over hundreds of years.
If you are not doing something new, then it is not a startup! You cannot apply all traditional business concepts before launching your startup product, primarily due to the level of uncertainty and the many unknowns.
This raises some interesting challenges to a startup, embarking on creating something totally new….
What existing tools and techniques are available? What path can be followed? How do you know if you are going down the right track?
This uncertainty explains the popularity in the Lean Startup movement and the scientific method to building a startup from the idea to launch. A good summary of the lean approach can be found on the Smallbiztrends website.
It states that “a startup must be agile and operate in a constant feedback loop”. This is in contrast to the traditional ‘linear’ progression of a traditional business.
Are you operating a traditional business or a startup business? Are you applying a traditional or lean approach to launching your idea?
You might also enjoy:
+ The Startup Dictionary – Learning the Lingo #3
+ Learning From Other Startups – 6 Real Life Stories
+ Startup Myths – I shall not be fooled again by gurus
+ The Bootstrap Challenge – Walking the Talk
Where to next? Check out a random article.
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