Do I Have a Business or a Startup?

Answering this question has nothing to do with longevity, yearly revenue/profitability, funding received, or the size of the staff – it has everything to do with being at the cutting edge of innovation.

Innovation is the main distinguishing factor that propels all other distinguishing factors between a business and a startup.

So What are Those Other Distinguishing Factors?

• A Startup is built from nothing based on innovation and thin air. Vs. A Business is built from nothing based on established concepts, models, and examples.

• A Startup is focused on development of specific innovation/technology/product Vs. A Business is focused on sales and marketing to acquire clients

• A Startup is established on assumptions that need to be validated Vs. A Business is established on confirmed notions

• Startups are built from gaps that exist in businesses and markets
• Startups fulfill unmet needs Vs. Businesses cater to current needs

• A flourishing startup grows up to become a business or to get acquired by a successful business – and than the cycle starts all over again.

• Entrepreneurs create startups Vs. Businessman/woman run businesses.

What other distinguishing factors can you think of??