WHAT IS A START UP(INTRODUCTION)
What comes to your mind when one says the word 'STARTUP'?, innovation, new trends, disruptive technology, experimental business models, scrappy young entrepreneurs, success/failure, revolutions, instability, immediate impact, name it........these words and so many others phrases keep criss-crossing one's mind when one talks about startups and this can be depicted in the different definitions of a 'STARTUP' below.
Entrepreneurship is a mental disorder
At one point an entrepreneur was forced to say that entrepreneurship is a mental disorder where one believes they change the way things are being done and they also believe that the impact caused will be universal.
One of the most successful startups of all times is FACEBOOK, this thing started as a joke with some few mentally disturbed individuals led by captain Mark Zurkerberg in a college dorm at Harvard university, then the effect spread to other universities in U.S.A then later it opened to all people until present day Facebook is universal with more than one billion subscribers allover the world. These youngtreps managed to turn a dorm idea into one of the most successful companies today.
Difference between a startup and a small business.
There is a lot of controversy when when one tries to differentiate a startup from a small business but the difference is very simple; A startup is designed to to scale very quickly(rapid growth), it is this focus on growth that unconstrained by geographical location which differentiates startups from small businesses.
The difference is all about growth and location, a startup's business model is able to go across all boarders rapidly without even the government noticing, where for example governments cannot regulate Facebook apart from blocking it from people and avoiding them from using it which is the case in china.
'Startup' is a revolution , a new way of living life
A revolution is a state of complete change in the economical, political cultural affairs of communities. revolutions bring about new ways of doing things.
Startups are all about solving universal problems. If you find a problem affecting a billion people and solve it, even if you charge a few dollars, or offer it for free and then you make money indirectly while people use your service, you are having a billion dollar idea and that's what they call a revolution
Startups are able to innovate new ides that move trends, ideas that change the economical situation, cause political systems to stumble and connect people with different cultures. If your idea can make a Chinese stop practicing kungfu for a minute then your idea is revolutionary.
Hard and expensive sucks- simple and cheap sells.
a prominent businessman once said "if you cannot explain your idea to a 5year old kid in 5 minutes and they understand, then you also do not understand it." Startups usually develop business models that can be understood by people of all ages and that's how they manage to revolutionize the whole concept.
How to turn a successful startup into a successful business.
There are five major factors that affect success of a startup and they include; the idea/concept, structure/system, finance/capital, people and effective communication.
the idea should be revolutionary, the structure/system should be balanced, the finances and capital should be well managed, people(entrepreneurs/founders, investors, employees, advisers) should be well organized and communication should be effective( marketing, selling, public speeches, internet of things)
All these five major factors constitute our discussion in the next series of: How to turn a startup into a successful business. JOIN THE DISCUSSION AS WE CHANGE OURSELVES FOR THE BETTER.
What comes to your mind when one says the word 'STARTUP'?, innovation, new trends, disruptive technology, experimental business models, scrappy young entrepreneurs, success/failure, revolutions, instability, immediate impact, name it........these words and so many others phrases keep criss-crossing one's mind when one talks about startups and this can be depicted in the different definitions of a 'STARTUP' below.- A startup is an experiment in search of a business model -SOLOMON KITUMBA founder and C.E.O YOZA.
- A startup is a young company that is just starting to develop, startups are usually small and initially financed and operated by a handful of founders or one individual, these companies offer a product or service that is not currently being offered elsewhere in the market or that the founders believe is being offered in an inferior manner-'inestopedia'
- A startup is a company working to solve a problem where the solution is not obvious and success is not guaranteed. - Neil Blumenthal
Entrepreneurship is a mental disorder
At one point an entrepreneur was forced to say that entrepreneurship is a mental disorder where one believes they change the way things are being done and they also believe that the impact caused will be universal.
One of the most successful startups of all times is FACEBOOK, this thing started as a joke with some few mentally disturbed individuals led by captain Mark Zurkerberg in a college dorm at Harvard university, then the effect spread to other universities in U.S.A then later it opened to all people until present day Facebook is universal with more than one billion subscribers allover the world. These youngtreps managed to turn a dorm idea into one of the most successful companies today.
Difference between a startup and a small business.
There is a lot of controversy when when one tries to differentiate a startup from a small business but the difference is very simple; A startup is designed to to scale very quickly(rapid growth), it is this focus on growth that unconstrained by geographical location which differentiates startups from small businesses.
The difference is all about growth and location, a startup's business model is able to go across all boarders rapidly without even the government noticing, where for example governments cannot regulate Facebook apart from blocking it from people and avoiding them from using it which is the case in china.
'Startup' is a revolution , a new way of living life
A revolution is a state of complete change in the economical, political cultural affairs of communities. revolutions bring about new ways of doing things.
Startups are all about solving universal problems. If you find a problem affecting a billion people and solve it, even if you charge a few dollars, or offer it for free and then you make money indirectly while people use your service, you are having a billion dollar idea and that's what they call a revolution
Startups are able to innovate new ides that move trends, ideas that change the economical situation, cause political systems to stumble and connect people with different cultures. If your idea can make a Chinese stop practicing kungfu for a minute then your idea is revolutionary.
Hard and expensive sucks- simple and cheap sells.
a prominent businessman once said "if you cannot explain your idea to a 5year old kid in 5 minutes and they understand, then you also do not understand it." Startups usually develop business models that can be understood by people of all ages and that's how they manage to revolutionize the whole concept.
How to turn a successful startup into a successful business.
There are five major factors that affect success of a startup and they include; the idea/concept, structure/system, finance/capital, people and effective communication.
the idea should be revolutionary, the structure/system should be balanced, the finances and capital should be well managed, people(entrepreneurs/founders, investors, employees, advisers) should be well organized and communication should be effective( marketing, selling, public speeches, internet of things)
All these five major factors constitute our discussion in the next series of: How to turn a startup into a successful business. JOIN THE DISCUSSION AS WE CHANGE OURSELVES FOR THE BETTER.
Comments