2.2: Different Types Of Creating A Startup
2.2. Types of Startups
Equally important as the steps of creating a Startup are the types of Startups. Understanding different types of Startups is a key factor to determine which resources and the respective amounts of those are needed to start the business. (Poland, 2014) Considers the following three categories by the funding of Startups:
2.2.1. High Growth
High growth Startups are ones that use media like for example Instagram or Flickr, they are called High Growth because it only takes some adopters online or in mobile apps to get it started, the more users these Startups have, the more companies will invest in advertising in the web product or app. With millions of accounts Instagram needs several servers, designers, programmers and other …show more content…
Efficiency
Provided the fact the product/service works and has a market that makes it profitable and replicable, then the Startup has the opportunity to improve the current usage of operational resources. With this in mind, efforts could be shifted into new reachable goals like for example looking for certain number of new clients (explore new markets) or even achieving specific operational high standards. When the Startup has reached its efficiency, it is common that the economic profit earned will increase. (Bergfeld, 2015)
2.3.4. Scaling
The efficient stage leads to a more developed product/service, the customer numbers are increasing and as a consequence the company growth is also increasing continuously. At this point the Startup focuses on the customers and begins implementing inside processes. (Bergfeld, 2015)
In the early stages of scaling, the Startup will find investors interested in joining the idea and business plan, the Startups daily activities are heavily linked with the financial investment and the growth in co-workers/teams is considerable. (Bergfeld, 2015)
2.3.5. Profit …show more content…
For this reason the KSF are a mixture of important factors that enable the functionality and operability of the company, being essential for a future success. They describe how an outcome was the result of a determined action, the amount of KSF depends of the size, complexity and targets of the company’s goals. (Bergfeld, 2015)
In the case of Startups, these factors provide the first results of the first efforts made by the company. There are some basic KSF that can be measured by the starting business (increase in user base, percentage of payments), although this may be possible in the early stages there are some uncertain or unknown business related factors. The uncertainties cover several and diverse aspects. It is more common for first time entrepreneurs to face more unknown details to deal with. Figure 6. Key Success Factors towards a Goal / Vision. (Bergfeld,
Equally important as the steps of creating a Startup are the types of Startups. Understanding different types of Startups is a key factor to determine which resources and the respective amounts of those are needed to start the business. (Poland, 2014) Considers the following three categories by the funding of Startups:
2.2.1. High Growth
High growth Startups are ones that use media like for example Instagram or Flickr, they are called High Growth because it only takes some adopters online or in mobile apps to get it started, the more users these Startups have, the more companies will invest in advertising in the web product or app. With millions of accounts Instagram needs several servers, designers, programmers and other …show more content…
Efficiency
Provided the fact the product/service works and has a market that makes it profitable and replicable, then the Startup has the opportunity to improve the current usage of operational resources. With this in mind, efforts could be shifted into new reachable goals like for example looking for certain number of new clients (explore new markets) or even achieving specific operational high standards. When the Startup has reached its efficiency, it is common that the economic profit earned will increase. (Bergfeld, 2015)
2.3.4. Scaling
The efficient stage leads to a more developed product/service, the customer numbers are increasing and as a consequence the company growth is also increasing continuously. At this point the Startup focuses on the customers and begins implementing inside processes. (Bergfeld, 2015)
In the early stages of scaling, the Startup will find investors interested in joining the idea and business plan, the Startups daily activities are heavily linked with the financial investment and the growth in co-workers/teams is considerable. (Bergfeld, 2015)
2.3.5. Profit …show more content…
For this reason the KSF are a mixture of important factors that enable the functionality and operability of the company, being essential for a future success. They describe how an outcome was the result of a determined action, the amount of KSF depends of the size, complexity and targets of the company’s goals. (Bergfeld, 2015)
In the case of Startups, these factors provide the first results of the first efforts made by the company. There are some basic KSF that can be measured by the starting business (increase in user base, percentage of payments), although this may be possible in the early stages there are some uncertain or unknown business related factors. The uncertainties cover several and diverse aspects. It is more common for first time entrepreneurs to face more unknown details to deal with. Figure 6. Key Success Factors towards a Goal / Vision. (Bergfeld,