I have been part of tech startups twice during my corporate career. While those two startups were worlds apart in terms of the actual products, target markets and eventual exits, nonetheless I worked as the product guy and lessons learned during those gigs were pretty similar. As I stepped into online business several years ago, I realized that while there are some stark differences between an online business (or a small business) and a startup, there are also just […]
What are the key differences between a startup and a small business?
Failure is one metric where small businesses and startups converge, i.e. about 2 out of 10 businesses fail during the first year, likewise 9 out of 10 startup fail.
Let me summarize how the two differ.
Small business are generally funded by the owners themselves, which means they are focused on profitability right from the start. Startups are more focused on revenues and growth during their early years.
Small businesses have […]
With so much news and hype around startups (thanks to YCombinator and Shark Tanks TV show), it is important to understand that a small business online or offline, is NOT a startup and vice versa. While there are some commonalities, there are just too many ways in which the two differ. If you believe you are chewing on an exciting idea, be sure to choose the right track to maximize your chances of success and eventual exit.
This article refers […]