What is a startup? The benefits of a startup job
What is a startup company? ?
On a broad scale, startups work in an indistinguishable way to other businesses.
In short, a startup company is one in which a group of people work together to create and sell a product or service.
So, what distinguishes startups from other companies?
A startup is a company in the first stages of its operations, founded to bring a new product or service to market.
Startups are different from traditional businesses primarily because they are grounded on disruptive innovation, created to address a perceived goods or services deficiency.
Startups seek out a new, innovative business model, while other companies focus on successfully executing a pre-existing model.
2. Growth potential
Startups are designed to have high growth potential.
Steve Blank, a serial entrepreneur and professor at Imperial College, describes a startup as “a temporary organization designed to look for a business model that is repeatable and scalable.”
In contrast, a company is “a permanent organisation designed to execute a business model that is repeatable and scalable.”
Startups are also differentiated from other companies by how they seek financial investment.
Startups tend to rely on capital that comes from investors or venture capital firms, while other small businesses tend to rely on loans and grants.
“If you want to understand how a business works, go work for a startup. You’ll get insight into every area of a business and get a better understanding of what you enjoy and what you don’t.”
– Bruce Walker, Managing Director at FutureX.
“At a startup you have a chance to really help create the culture rather than push against an established one. You’ll have an opportunity to challenge things and experiment with ideas and solutions.”
– Colin Hewitt, CEO & Founder of FloatApp
It’s no secret that startups also tend to offer great perks.
From company trips, flexible hours and remote working to gym discounts and unlimited holidays, every startup will offer a ‘benefits of the job’ package.
To summarise, working at a startup will allow you to find your niche, take on big responsibilities, and enable you to fast-track your professional development.
Being able to shape your own role, as well as the wider business, provides a steeper learning curve than working in a large corporate ever could.
So, if you ask me, working in a startup is a great choice for anyone in the early stages of their career.
Want to work at a startup? Working in a startup is the perfect way for a graduate to kickstart their career – check out our range of graduate startup jobs in London and the UK.