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Eric Ries has a good definition in the Lean Startup: "A startup is a human institution designed to create a new product or service under conditions of extreme
by buro9 15y ago
Eric Ries has a good definition in the Lean Startup:
"A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty."
Is every new company a startup? No, lots follow templates within fairly known parameters, such as Restaurants. The uncertainty isn't there to the same degree, and the offering is known. They are a new company, but not a startup company.
Is every old company not a startup? No, many have to deal with the innovators dilemma and as their main business face competitions are forced to confront uncertainty and create divisions to reinvent themselves, these divisions would be considered a startup.
Eric defines a startup by the uncertainty factor, and by the creation of a new offering from that uncertainty.
Edit: typo corrected
- sivers 15y agoTypo: I think you meant to type UNcertainty. The quote from the “Lean Startup” book is: “… a human institution designed to create new products and services under conditions of extreme uncertainty.” Assuming most readers know what you meant, but just had to correct it, for the record.
- amorphid 15y agoI like Eric Ries' definition. To me it implies the startup is trying to figure out some hard stuff and that if they nail it it could be HUGE! A non-startup reminds me of any ol' business that is just making money and is boring on a day to day basis.
- buro9 15y agoNo worries, thanks for pointing it out. I had to edit it from my mobile in a Manic Street Preachers gig before the edit window closed on me. Kindle should really allow cut and paste, a fair use amount (let that debate begin!). Then I wouldn't have got it wrong.