In recent years, no matter the walk of life you are from, you would have heard the term start-up. Immediately you begin to think of hoodie-wearing, ping pong playing craft beer drinkers that barely work. Let me dispel something now, this is certainly not true.
First of all, not all start-ups are tech-based, and secondly, while millennials certainly bring a new era of beardedness, they work very hard. Any organisation could be classed as a start-up, due to the nature of innovation and creativity, it is very appealing. But, what does it actually mean?
It is a business or enterprise that has recently began operating, hence the name. To be a start-up, you must have only recently opened up shop. It is a company that is founded on innovation, a company that believes in culture and that everyone has the will to push the limits and expand the business.
It is usually financed and operated by a small group of people, or a single individual. It is a belief that you have discovered a gap in the market, or that an inferior product is currently available, and you are willing to throw stability out the window to pursue this idea.
Funding can be attained through many ways, a small business bank loan, savings, family and friends, or even venture capital funding, if the company is deemed worthy enough.
As soon as your employees begin to think that they are no longer have a positive impact on the day to day, you are losing the start-up status.
You can still be considered a start-up even if you have been operating for a few years, it becomes less like a start-up when your business becomes profitable.
Why would someone want to work where success is not guaranteed. A place where no stability is guaranteed, but the excitement of tremendous growth and immediate impact could be achieved, can be the makings of something great.
Featured Image Source: Pixabay