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What makes a startup?

Lately, the term “startup” is used increasingly more often, describing more companies in more areas. But what exactly is a startup?

In most definitions startup is a relatively new company created to solve an existing problem or to bring completely new technologies to the market, that could disturb it in a significant way.

 

While generally the term is associated with smaller companies, size is not a defining feature of startups.

The most important features are:

– High stakes
– Uncertainty of success

If our idea is successful, we can become real leaders in the market and make huge profits, but in the case of startups only about 10% are able to survive the first year of activity!

 

So, startups come in all shapes and sizes.

 

A very important feature of startup owners is the ability to adapt to change. Continuous improvement is a key to success. You should test your product on daily basis and change as you go along, whenever you see a flaw. Adaptability will help to ensure your product stays attractive in changing environment. You have to experiment and never be afraid of change.

 

What qualities does the startup owner need? First of all passion. You have to love what you do and really believe in your idea. Besides that, you have to be determined, creative and brave. Rome wasn’t built in one day. Creating a startup is a long road, but if you’re ready to embark on it, you can reach incredible results!

 

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