Abstract:
A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty. The goal of the startup is to figure out the right thing to build (as quickly as possible) which customers want and are willing to pay for. Startup is an organization that has the potential to grow very rapidly, ultimately becoming a "real company". As rightly said by Steve Blank,
Startups, when they begin, have no process, no culture, and no repeatable business model. All they know is that they have the potential to address a huge market if they can figure their business model out, and then scale quickly enough to stay ahead of the
competition.
