I came across a question on Quora which read Entrepreneurship: What is a “startup”, and why does everybody seem to be in one?. I had following answer, hope it will be helpful for everyone
Start-ups are companies which are newly created or are still in Market Research phase. Their growth, survival depends on the amount of popularity they get/clients they make/people they connect to. So their growth can be as fast as Facebook or can be modest as in case of Infoedge. Startups are generally based n an idea or concept which a group of people work really hard to implement and then even harder to Scale till it becomes a sustainable business.
Now coming to your question, why everyone wants to be in one? Well first thing first people prefer inventing a job than to finding it, as it involves more challenge and you actually can do what you want to do. Second the learning is great, all the things that you hear people talking abut you will be implementing on your on. Next is that you get to be your own boss. Next and it is important one, you actually address a problem or give it a solution which brings the change for all the good. Another important thing is if you succeed the return on a startup is insane, try finding what’s worth Twitter, Facebook, Google, Yahoo, Apple, Microsoft and the list goes on and on. They were all startups at one time. You can also read about Zomato or Redbus, they are all cool startups.
Now yes this is the place from where the pointless apps are coming from. But if you think again these Apps are not as pointless as you might think. They tell you good restaurants, tell you routes to different places, guide you till there, find good discount coupons, Games(save you from getting bored to death), update you with all kind of news, connect you with friend and social world. My point is startups help people by making their lives easier in one way or another and if you think again that is kind of a social service but only difference is it is a profitable one
- 10 Rules to a Great Startup Idea (grrrafik.com)
- The Three Ways To Make A Lot Of Money At A Startup (forbes.com)
- Who works for a startup? (grrrafik.com)
- How to Get Your Startup’s Technology Up and Running Today (newspodge.wordpress.com)
- 48 startups in Asia that caught our eye (techinasia.com)
- What It Feels Like to be CEO of a Startup (crazyaboutstartups.com)