What is a startup?
This question is something that should be paid more attention than it is. Many "well-informed" people believe that startup is a blanket term that can be applied to any new business venture that starts out small. Does this mean that old businesses can never be called startups? Does this mean that a venture that starts out relatively larger than others is also not a startup? The answer here, I think, is a resounding NO. The word startup should be used only to define companies of a specific kind, the kind that are born with the aim of becoming behemoths in their respective fields of operation. It is important to note that not all business owners want to make their businesses large. They may be happy deriving sustenance from their venture and enjoying life. Similarly, not all new businesses are capable of becoming really large players in their sectors. In order to become large businesses, they must satisfy two crucial criteria: Large Market: Solve a problem that a lot of...