What's the difference between a startup and a business?
On Quora.com, I site I visit fairly infrequently, someone asked the difference between a business and a "startup."
Once upon a time, most people would have said, a startup is a young business, just as a baby or infant is a young person.
But things have changed in recent years, and we're all getting smarter about the unique role and needs of a startup. So here is the answer I submitted:
In the new "lean startup" methodology, a startup is very different from a business. A business is an organization (or individual) that normally executes a proven business strategy. By contrast, a startup is an organization or initiative in search of a successful business model.
This approach is useful, because it doesn't demand perfection from a startup; when you acknowledge you are merely searching for the right success formula (rather than simply executing a formal business plan), you are more likely to tolerate mistakes, learn from them, and make changes (or as the kids today say, pivot) sooner to help you become more successful.