A startup is an entrepreneurial venture or a new business in the form of a company. A partnership or temporary organisation designed to search for a repeatable and scalable business. These companies, generally newly created, are innovative in a process of development, validation and research for niche markets.
The term became popular internationally during the dot-com bubble when a great number of dot-com companies were founded. Due to this background, many consider startups to be only tech companies, but this is not always true. The essence of startups has more to do with high ambition, originality, scalability and growth.
Which are their characteristics?
Nowadays all companies should embed these features:
- No politics; ideas judged on their merits, not because of who brought the idea.
- It is not work but a mission… A goal to achieve.
- No mediocrity; you need to take risk.
- Liquidity; you should to have enough money to start.
- Equity; everyone is doing something important for the startup.
- Perfect alignment; people placed in their ideal & productive position.
- Excellent communication; speak fluently between your team so everyone is on the same page
- A strong leader; someone to follow by example and is responsible.
- Proactive; understand your clients needs and act upon them.
- Enthusiasm; short but energetic and direct meetings.
- Atmosphere; create an environment when work seems more relaxed and enjoyable.
- Integrity; fill your team with confidence about what they do.
By Tony Nwachi on 21 December 2015