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Startups are living organisms, especially early-stage startups operate under conditions of extreme uncertainty in search of right product–market fit. As the challenges and opportunities in each development stage are different, understanding of development stages will not only aid an entrepreneur in anticipating challenges and being prepared but also assist an investor to set right expectation from the startup. Over its lifespan, a startup develops across interdependent dimensions like organization objectives, customer, product, finance, business model, revenues, team, and organization culture. Most of the researchers have proposed models of startups by measuring growth over only one dimension. However, in current business landscape, none of the growth dimensions can be ignored. This chapter proposes a multi-dimensional development model for early-stage startups and explains attributes of each dimension for well-defined development stages. This chapter also presents a comprehensive yet simple framework for quantitatively identifying development stage of a startup. While evaluating numerous startups across the globe, the framework also helps to identify unbalanced development of the startup for a particular dimension and proposes respective remedial measures.
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- Development Stages and Scaling Issues of Startups
- Springer Singapore
- Chapter 1
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