Evolution of a startup company Startup companies can come in all forms and sizes. A critical task in setting up a business is to conduct research in order to validate, assess and develop the ideas or business concepts in addition to opportunities to establish further and deeper understanding on the ideas or business concepts as well as their commercial potential. Business models for startups are generally found via a bottom-up or top-down approach. A company may cease to be a startup as it passes various milestones, such as becoming publicly traded in an IPO, or ceasing to exist as an independent entity via a merger or acquisition. Companies may also fail and cease to operate altogether. Investors are generally most attracted to those new companies distinguished by their risk/reward profile and scalability. Startup Financing Cycle Startup business partnering Startup culture Co-founders There is no formal, legal definition of what makes somebody a co-founder.
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7 tactics lean startups need to build great productsIf you’re running a lean startup, “launch and learn” is undoubtedly a familiar mantra. But launching a new feature can take weeks or even months, and for a scrappy startup that’s a potentially make-or-break issue. Our design studio works with dozens of startups each year to help teams define their products and features. Through the process of doing this over and over again, we’ve collected a time-tested toolkit of methods for learning that are cheap, fast, and perfect for startups to find those crucial mistakes earlier and then adapt their plans more nimbly. Clickable mockups Most teams think they need to build an interface that functions and looks real before showing it to customers to get feedback. At first I thought these prototypes would be too rough to be useful. Customer interviews Instead of working in a vacuum, gather data to use as fuel for designing your product. It’s easy to get hung up on the details: How do you find people who will talk with you? Fake doors Recon Micro-surveys
The programme and its benefits - Erasmus for Young EntrepreneursThe European exchange programme for Entrepreneurs Erasmus for Young Entrepreneurs helps provide aspiring European entrepreneurs with the skills necessary to start and/or successfully run a small business in Europe. New entrepreneurs gather and exchange knowledge and business ideas with an experienced entrepreneur, with whom they stay and collaborate for a period of 1 to 6 months. The stay is partly financed by the European Commission. Benefits As a new entrepreneur, you will benefit from on-the-job training in a small or medium-sized enterprise elsewhere in the Participating Countries. As a host entrepreneur, you can benefit from fresh ideas from a motivated new entrepreneur on your business. It is really a win-win collaboration whereby both of you can also discover new European markets or business partners, different ways of doing business. Please read the programme guide for more information on conditions of participation.
Steve Blank on small startups, big execution, and Steve JobsWhen Steve Blank talks about entrepreneurship, people listen. When he writes a book on the subject, like his latest effort with co-author Bob Dorf titled The Startup Owner’s Manual, it’s a good bet it will be on many founders’ bookshelves. Blank co-founded the CRM software company E.piphany and the video game business Rocket Science. His current gigs as an entrepreneurship professor at Stanford, UC Berkeley and Columbia give him a unique insight that combines a historical perspective with a look at the next generation of entrepreneurs. I sat down with Blank at his ranch in Pescadero, where we talked about his book and his take on the state of startups and entrepreneurship. Watch the videos below or listen to the audio only of the entire interview. PART 1: Startups are not small versions of big companies PART 2: Forget a “business plan” PART 3: The myth of Steve Jobs and customer interaction PART 4: The overlooked importance of Amazon
Why Some Startups Succeed And Others Fail: 10 Fascinating Harvard Findings10 Essential PR Tips for StartupsErica Swallow is a technology and lifestyle writer. Sign up for her course on "PR for Startups" to learn more about getting media coverage for your fledgling business. It can be challenging for unknown startups to garner press attention — budgets are tight, relationships with journalists may not be that strong and explaining a new concept is difficult. Not to mention, early-stage startups usually only employ a few people focused on product and development. Good press, though, can be one of the biggest drivers for startups looking to grow their user bases, and as a result, a pretty important component for success. As a tech journalist, I've been pitched by hundreds of companies and have developed a taste for what works and what doesn't. 1. Before you begin pitching your startup, stop to think about what is truly newsworthy, especially to the publications you’re targeting. 2. Before sending out any pitches, take time to craft your company's message. 3. 4. 5. 6. 7. 8. 9. 10. Your Questions
5 Steps To Bootstrapping Your PR EffortsPublic relations is just one of those things. It's something that every company knows they should do, but only see two ways of making it happen -- hire an expensive PR firm or cross their fingers and hope for the best. The latter is, well, not really much of a PR strategy. There is a third option, however. Bootstrapping. I've written in the past about how to bootstrap your PR efforts, but never really dug into the nitty gritty. Here it is, Moz family. Step 1 - The Mirror Check The first step is what I like to call the mirror check, something that gets glossed over far too often. Save your time, and more importantly, everyone else's. Step 2 - Building Your Publication List Once you've got a solid story, it's time to start building your list of publications. It's important to note that PR isn't a numbers game, as many think. Step 3 - Finding the Right Contact This is so important that it deserves its own step. The first three fields are fairly self explanatory, then we get into the meat of it.
How To Chose a Brand Name: Tips, Ideas and ExamplesI get asked this question quite a bit by startupping entrepreneurs and even established business owners: When choosing a name for your business or a new product, should you go with a name that is descriptive (if somewhat boring)? Or should you coin a unique made-up word? There are different schools of thought on this. Some people fall squarely in the “unique made-up name” camp — others think descriptive is best. Personally I tend to fall into the descriptive camp. While there is no one right or wrong answer, I do think there are specific considerations in a small business you need to keep in mind when coming up with brand names. I examine the advantages and disadvantages of both schools of thought in my latest post at the SMB Marketing Guide, called “Choosing a Brand Name: Being Descriptive vs Coining a Unique Word” which I’d like to share with you: Now let’s take a look at using a newly-coined word or phrase for your brand. Anyway, read the whole thing over there.
Principles for Managing Strategy and InnovationThrough the years, I have been intrigued by the number of once powerful companies that are no longer around. Darwinian principles seem to apply in business as much as in biology. When technology and market environments go through major changes, as is certainly the case today, previously successful business strategies will no longer work, no matter how much you try to fix them. Companies that are unable or unwilling to adapt to the changes in such a Darwinian climate will become marginalized or extinct. It is not hard to understand how I come to this somewhat fatalistic view of business. More recently, Citi, which I joined as strategic advisor in March of 2008, has gone through its own near-death experience as a result of the financial crisis of the past few years. Why is it that some firms are able to go through ups and downs, yet survive and thrive? Cusumano is a professor in MIT’s Sloan School of Management, with a joint appointment in the Engineering Systems Division.