Sam Bankman-Fried Sentenced to 25 Years Jail
In a decisive turn of events that’s captured the attention of both the cryptocurrency world and the global financial community, Sam Bankman-Fried, the founder of the now-insolvent FTX[...]
If you haven’t founded a startup yourself, you more than likely know or have heard of someone that has. Today’s technology industry is filled with entrepreneurial ventures known as startups but what is the difference between them and a small business?
There is a common misconception that startups are simply smaller versions of large companies but that more defines a small business. Serial-entrepreneur Steve Blank defines a startup as a, “temporary organisation designed to search for a repeatable and scalable business model.” Key word being ‘temporary’.They should be short in which during the time that they exist they quickly implement their business model and raise enough funds to continue.
While small businesses already have some stability and are driven by profitability, startups focus more on growth potential and are more scalable. Blank also believes that wanting to ‘take over the universe’ is the first major distinction between scalable startups, technology clusters and small businesses. An excellent example of a startup that is on its way to taking over the universe is Canva. The company started in 2012 as a free, basic, graphic layout web app for professional and personal use. In 2015, Canva was valued at $US165 million ($AUD233 million).
Typically, funds are raised for a startup by pitching to venture capitals whereas small businesses can exist by raising money from one’s own savings or loans from friends or the bank. Of course starting any business is going to come with risks but startups take the cake in level of riskiness. Why? Finding the right product is hard combined with high chances you might end up wasting you own and investor’s money.
Essentially startups are focused on raising funds to implement profitable product with large growth opportunities. On the other hand, small businesses follow traditional business models and strong cash flows.
In a decisive turn of events that’s captured the attention of both the cryptocurrency world and the global financial community, Sam Bankman-Fried, the founder of the now-insolvent FTX[...]
With the banning of engineered stone in Australia coming into effect, and this extremely popular choice for benchtops and splashbacks no longer an option, many Aussie families are now wondering[...]
Originating centuries ago in the canal-laden streets of Venice, Venetian Plaster continues to captivate the imagination of designers, architects, and homeowners alike. We have selected our Top 5[...]
When it comes to choosing the right butcher for your family and friends, you want to know you are going to the best. But where do you start? There are so many butchers in Sydney, from large to[...]
