Allen Young has an insightful post titled The Startup Myth, on the often mislead perception that building a Startup is the same as building a Business. He offers great truth on the distinction between the two and how an entrepreneur’s understanding of this distinction will inherently affect his or her approach to their business.
“[For] the first-time entrepreneur who has bought into the Startup Myth. His romantic vision of startup life becomes a self-fulfilling prophecy and he is destined to struggle with a small “startup” because that’s what he wants.”
Many people might wonder how the startup life filled with late nights, Ramen Noodles, and constant struggle can in any way sound appealing. But it is an odd fact that for many entrepreneurs this odd combination has a powerful allure to it. (Ah…the life of an entrepreneur.)
Enter Allen…“Dump the warm fuzzies. Entrepreneurship is not about startups. “
As Allen reminds us, don’t be disillusioned by the appeal of a startup. A startup is only the beginning to a much bigger and longer story. Focus too much on the beginning and take the risk of losing in the long run. Realize that approaching business and entrepreneurship as a Startup, is shortsighted and destined to struggle or fail. Entrepreneurship is not about the startup, “entrepreneurship is about growth and value.” A business will not measured by the “Story” behind the Startup, but rather its ability to create and grow value.
Lesson Learned: Build a Startup and have a Great story to tell, but Build a Great Company and others will tell it.