Do you all exactly know what a startup is?
Let me present you few definition for a better understanding.
First meaning that I'd like to present is a definition made by Steve Blank. He is known thanks to developing the Customer Development method that launched the Lean Startup movement - a methodology which recognized that startups are not smaller versions of large companies, but require their own set of processes and tools to be successful. He says that start-ip is "an organization formed to search for a repeatable and scalable business model."
Warby Parker was founded in 2010 in Philadelphia. Warby Parker designs their product in-house, and sell directly to consumers through their website, stores, and interactive showrooms. Most importantly, they order their own materials such as acetate from Italy and then manufacture frames at the same Chinese factories as their high-end competitors, like Luxottica. Co-CEO of that company (Neil Blumenthal) definies startup as: "a company working to solve a problem where the solution is not obvious and success is not guaranteed,"
Adora Cheung is an American software developer. She was the co-founder and CEO of housecleaning business Homejoy. After closing of Homejoy, Cheung started working exclusively for Y Combinator as a partner. In her opinion, start-up is something more than just an enterprise. She says: "It's a state of mind. It’s when people join your company and are still making the explicit decision to forgo stability in exchange for the promise of tremendous growth and the excitement of making immediate impact.”
We can't omit the most important definition of start-up that was presented by Eric Ries in his book "Lean Startup" He definies startup as an innovative company operating in conditions of extreme uncertainty.
Quite often it is also said that a startup is just a company at the beginning of its operation. Do you think so? I think we might surely agree with that.
So, what exactly a startup is? Does it look easier to understand now?