What is a startup?

A startup is a young company built to find a repeatable, scalable business model. What sets it apart from an ordinary small business is the goal of fast growth: a startup aims to reach a very large number of customers without its costs rising at the same rate.

Most startups operate under uncertainty, since it is not yet clear exactly what customers want or will pay for. Testing assumptions quickly, shipping small versions of the product and learning from the market is therefore most of the team's work in the early days.