We live in the age of technology. The growth in the technology, infrastructure and accessibility to software tools has led to multiple startups. But did you know that there are various types of startups which differ from the way it operates and what their product or service offerings are.
The most common types of startups are below.
Small Business Startups: These very common and well known startups. They are self-starters like solo starters or partnership with very few employees and provide the services to a very few clientele. They operate for a long term as startups.
Offshoot startups: These are companies that part out from the bigger Companies. In spite of parting off from a larger company, they operate independently. They do work on certain processes, research or development etc. while they have the freedom to run their own show and experiment, innovate new things without much hassle or scrutiny.
Scalable Startups: These startups build a business model and seek investors. They get the funding from any friends, family, angel investors, venture capitalist or anyone. Those funds are used towards their company’s growth initiative. Later they look out for some companies who may buy them based on their customer base.
Buyable Startups: These startups generally offer their products, services and build a good customer base. Once they have the business steady and running, they look for buyers who would like to buyout.
Social startups: Obviously, these startups are growth obsessed and more into apps who aim at making money online. The main objective is about getting the money from whatever channels they opt in. These are Nonprofits, App based, as well as charitable companies.
Lifestyle startups: These are hobby startups like music, dance, yoga or teaching and certain lifestyle related activities. They do it themselves or do it with some like minded people, who have interest in various activities, who are ready to teach their passion for someone who is interested for a fee.
Irrespective of whatever you want to start, there is an idea required, and you need to know how to execute the startup idea be it small or big, which indeed needs a lot of planning and strategy to be successful. So there would be more efforts, hard work that needs to be incurred to start a startup from scratch.