Startup: Definition, Clichés and What you Really Need

“Startup” is a term widely used mainly since the ‘00s. It is used to describe every “next gen” business venture based on innovative products or technologies and scalable business models.
They start small and they often concern a niche market. They aim at effective development through acceptance from the business world (by securing funding and investments), as well as from their target group (through successful product launch and profit).
The overall “startup culture” has been significantly influenced by the business models of innovative companies in the technological sector, mostly after the internet & communications revolution. The sector’s rapid growth boosted business activity and the term “startup company” became a popular term within the modern business environment. International business jargon such as “lean startup”, “growth hacking” and ‘big data” dominated business presentations and discussions, often at the expense of objective data and planning.
But is such a business model actually viable?
The answer is yes, under prerequisites. Specifically:
• The company’s object should provide solutions to actual problems and be based on original ideas - not imitations. The goal is to offer a product/service that the audience wants to buy – which is why an investor will want to invest, as well.
• Emphasis should be placed upon strategic planning and objective data: Business Planning & Risk Management. This way you can ensure your company’s gradual evolution and eventual flexibility.
• You need a thoughtfully selected business team: properly evaluate and manage your Human Resources. Through effective HR Management you can achieve a increased performance at a lower cost.
The goal is creativity and innovation alongside effective planning and business know-how. Managemind offers the practical and theoretical base for the development of your startup. Contact us to arrange a free first meeting, where we can discuss your company’s needs and how to cover them.