Aug 24 2011
During the dot-com era we saw startup companies emerge, expand rapidly, and deflate just as quickly. While startup companies continue to be major players in our economy, we have hopefully learned some important lessons from the mistakes of the past. Startup companies are still thought to be primarily rapid growth, technology focused enterprises that fill some sort of unique niche in the marketplace. These ventures are attractive to both investors and potential founders because one can establish and grow their business with limited amounts of capital, labor, and tangible assets. Reach too far, too quickly or neglect important business practices, however, and a startup can revert from a success to a failure practically overnight. It is through a marriage of innovative thinking, smart business sense, and an understanding of startup company law one can launch, nurture, and protect their entrepreneurial efforts.
We can all agree that every successful startup must begin with innovative thinking, but founders do not necessarily need to reinvent the wheel, either. Some of the most profitable startups are refinements and expansions of already existing goods or services. Facebook is a perfect example. It is built upon the very simple and traditional concept of a campus facebook or lookbook and has online predecessors such as Classmates, Friendster, and MySpace. Facebook is neither a carbon copy of these ideas nor completely independent of them, yet it is also its own distinct entity which has revolutionized the way we communicate with each other, do business, and learn about the world. The foundation of most successful startups is an original concept that drew inspiration from existing ideas and transformed them into something unique that people will respond to enthusiastically.