START-UP 101

Often hear the word ‘start-up’? The term that is becoming familiar especially among millennials down below, is a foreign vocabulary that apparently has been downstream consistently at the worldwide level for at least the last decade. However, in Indonesia itself shows a five-fold increase in popularity trends in October 2020 (thanks to StartUp K-Drama).

Google Trend

Despite all the popularity, does the meaning of the concept of ‘start-up’ itself be understood easily? How to align our basic understanding of this term?

Definition

CR: rawpixal

Basically, in the UK English dictionary, ‘start-up’ can be interpreted as a start-up. While the definition of ‘start-up’ US version according to Steve Blank, one of silicon valley entrepreneurs, is a temporary organization designed to look for a business model that is able to survive and develop, to in the future transition into a company or ‘company’.

Over time, since the time of the popular ‘dot-com’ industry, the meaning of ‘start-up’ in the business world has also shifted meaning. Now people know ‘start-ups’ as a new business and apply technological innovation to solve a problem in society.

FEATURES
The character of the modern ‘start-up’ itself, can be described through the following 4 points:

KEY PRINCIPLES
To drive a ‘start-up’ it takes important factors and elements as the main motor in this business, among others as follows:

In the end, ‘start up’ not only refers to the concept of business, but also the basic mindset and behavior that can be formed and learned, to be able to produce products that can be perceived benefits.
So, are you ready to make your own?

Source: cohive, startups co UK