The word “startup” is often associated with new businesses that aim to disrupt an industry or offer a truly unique product. In Afghanistan Phone Number List addition, the term is often associated with risky businesses with a potential for high growth. Many tech companies consider themselves startups in the early days, but the term isn’t limited exclusively to businesses Afghanistan Phone Number List in the high tech space. Eric Ries, the creator of the Lean Startup methodology defines it this way: “A startup is a human institution designed to create a Afghanistan Phone Number List new product or service under conditions of extreme uncertainty.” He goes on to add, “To open up a new business that is an exact clone of an existing business, all the way down to the business model, pricing, target customer, and specific product may, under many circumstances, be an attractive economic investment. But it is not a startup, because its success depends only on decent execution—so much so that this Afghanistan Phone Number List success can be modeled with high accuracy.”1
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One problem with this approach is that there is no single definition of what makes a business truly unique. And the reality is that most small businesses are risky, especially in the early years. According to the Congressional Research Service, “business startups create many new jobs, but have a more limited effect on net job creation over time because fewer than half of all startups remain in business after five years.”
Time in Business Many business owners often consider their business’s startups in the first few years, even if they don’t have a truly unique product, service, or business model. For them, the risk is real. They are taking a risk that their venture won’t pan out at all, and that makes Afghanistan Phone Number List them feel like they are creating a startup, even if someone else would view it as just another small business. One problem with this approach is that it isn’t always clear when the business moves from startup to small business. Is it when it achieves profitability? Or when it Afghanistan Phone Number List survives the one or two year mark?