There is a wide variety of different classifications of startups. What is a startup company? Which one are you? Do you have an idea for a product or service and want to turn it into a profitable business? Are you looking to become the next big thing in Silicon Valley, or do you want to create a company that is more traditional? Today we’ll dive in and take a closer look at the different types of startups and help you determine which type best suits your needs.
A scalable startup is a business that is designed to grow rapidly in order to achieve the highest return on investment. This type of startup requires thorough market research to identify exploitable market opportunities.
A solid example of a scalable startup is Google. The company started with the intent to dominate the search engine industry and was successful in doing so. Another example of a scalable startup is Facebook. The company started with the intent to dominate the social networking industry and was also successful. If your market is extensive and you want to achieve rapid growth, then a scalable startup is right for you.
A Unicorn startup is a privately held company with a valuation of over $1 billion. These startups are rare and have achieved massive growth in a short period of time.
An example of a Unicorn startup is Airbnb. The company was founded in 2008 and achieved a billion-dollar valuation by 2014. Another example of a Unicorn startup is Snapchat. The company was founded in 2011 and achieved a billion-dollar valuation by 2015. If you want to fall into this selective and unique category of startups, focus on allocating multiple streams of revenue and emphasizing scale at an early stage.
Small Business Startups
Small business startups are, as the name suggests, small businesses that are starting up. These businesses typically have a lower risk than other startup types and require less capital to get off the ground.
An example of a small business startup is a mom-and-pop shop. These types of businesses are usually family-owned and operated. Another example of a small business startup is a local restaurant. These businesses usually have one or two locations and are not looking to expand beyond that. If you’re looking for a lower-risk option with less capital required, then a small business startup is right for you.
Large Business Startups
Large business startups are businesses that are starting up and are large in scale. These businesses typically have a higher risk than other startup types and require more capital to get off the ground.
An example of a large business startup is Walmart. The company was founded in 1962 and now has over 11,000 stores worldwide. Another example of a large business startup is Amazon. The company was founded in 1994 and is now the largest online retailer in the world.
There are many different types of startups, each with its own strengths and weaknesses. It’s important to understand the different types so that you can determine which one best suits your needs.