How does one say that a business is a startup or something more than that? Does it have any-thing to do with size, net income, and years in the business? A lot of us have seen and recognized startups, but we can’t really define what sets them apart from bigger companies. And some companies still have the “startup mentality” even after they have supposedly outgrown the sta-tus. Here’s how we can say a company has left its startup status.
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More employees
If the company has around thirty full time employees (which has doubled or tripled after its in-ception), it’s safe to say that its startup status is over. And when a company has satellite offices and branches, it is no longer considered a startup. Instagram is an example of a startup gradu-ate, having started with 12 employees, with its team exponentially multiplying after its acquisi-tion by Facebook.
Stable finances
A lot of businesses often make ends meet just to sustain operations. This might mean salary and budget cuts. But when the business can pay its employees well (with benefits) and makes great profit, it is no longer a startup.
Brand recognition
When a business does not need to boast about its awards, client base, and other notable achieve-ments; and is known for their unique branding, it is no longer a startup.
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| Image source: itnewsafrica.com |
Hi there, I’m Steve Sorensen, a networth and business blogger. Check out this pagefor more business news.
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