Now that we have an answer to “What do we need to start a startup?” comes the next question – “What are the types of startups?” / “What type of Startup my company would come under?”
As Steve Blank explains in a detail here, the six types of Startups
- Lifestyle Startups : “The Passionate Startups” These are the individuals that make their Passions and interests into a startup. A web designer or a Painter is living their life they love and Money is secondary to them.
- Small Business Startups : “The Everyday Startups” These are the every day businesses.They make almost 99.7% of total companies. Consultants, Grocery Stores, Electricians etc., fall under this category
- Scalable Startups : “The Born to be Big Startups” These are the ones who always believed that their product will change the world. Facebook, Twitter, Skype etc., are all path defying and have achieved big.
- Buyable Startups : “The Born to Flip Startups” These are the ones who always wanted to develop their product, make it popular and sell it to a bigger firm for a good profit.
- Large Company Startups : “The Big Innovative Startups” With more and more new startups coming up each day, it has become more difficult for the larger companies such as Microsoft, Google etc., to grow through “Sustaining Innovation” ( Offer new products that are variants of their core products. For Example : Google Docs or Calendar). These companies now have focused on “Disruptive Innovation” (Create entirely new products than their core products. For Example : Android from Google)
- Social Startups : “The Difference making Startups” These are the ones that want to make this world a better place and are not to create wealth for the founders.
- So, choose which one does your Dream Startup is and leave your valuable comments.