Start-up Business Brochure by Refresh

START-UP MODERN BUSINESS BROCHURE

START-UP By Sean Bowl

Photography by Owen Newman

START-UP

S T A R T

NEW BUSINESS IN THE FORM OF A COMPANY

PAUL GRAHAM SAYS THAT “A STARTUP IS A COMPANY DESIGNED TO GROW FAST. BEING NEWLY FOUNDED DOES NOT IN ITSELF MAKE A COMPANY A STARTUP. NOR IS IT NECESSARY FOR A STARTUP TO WORK ON TECHNOLOGY, OR TAKE VENTURE FUNDING, OR HAVE SOME SORT OF “EXIT”. THE ONLY ESSENTIAL THING IS GROWTH.

A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? Quiam sunt audi de rectotat reritia A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take... Em corrovit quaturibus nobit as inctem comniendebis quassi utatia si ni nonsequatio dolupis ciendemporio et repreperia plaborem in corrore volorumquae endae sectempore, idit ut disque sinimus, cupta dollant lab in nim nulparunt ersperum qui re enis aut voles am re Em corrovit quaturibus nobit as inctem comniendebis quassi

MODERN BUSINESS BROCHURE

START-UP ASWATH DAMODARAN STATED THAT THE VALUE OF A STARTUP FIRM “RESTS ENTIRELY ON ITS FUTURE GROWTH POTENTIAL.” HIS DEFINITION EMPHASIZES THE STAGE OF DEVELOPMENT RATHER THAN THE STRUCTURE OF THE COMPANY OR ITS RESPECTIVE INDUSTRY. By Anthony Berry

Photography by Alexandra Anderson

A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? Quiam sunt audi de rectotat reritia A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything 4

START-UP

else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur?

EVOLUTION ) Quiam sunt audi de rectotat reritia A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing.

Startup companies can come in all forms ) Being newly founded does not in itself make a

company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth.

CO-FOUNDERS ) Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro

restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? Quiam sunt audi de rectotat reritia A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? Quiam sunt audi de rectotat reritia A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium. MODERN BUSINESS BROCHURE

START-UP

BEYOND FOUNDERS A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”

SOME STARTUPS RAISE

Evolution of startup investing STARTUP INVESTING IS THE ACTION OF MAKING AN INVESTMENT IN AN EARLY-STAGE COMPANY By Christian Coleman

Photography by Brandon Butler

START-UP

INVESTING ROUNDS

TRENDS AND OBSTACLES A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”

IMPORTANT ) Quiam suntAque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int

od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? Quiam sunt audi de rectotat reritia A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” GaItatus. Aque eatet que omnihit enducias vit et optas. MODERN BUSINESS BROCHURE

START-UP By Bernadette Churchill Photography by Jacob Dickens

Startup investi online 8

START-UP

ing

startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? Quiam sunt audi de rectotat reritia A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a

THE EXACT DEFINITION OF “STARTUP” IS WIDELY DEBATED, HOWEVER AT THEIR CORE MOST DEFINITIONS ARE SIMILAR TO WHAT THE U.S. SMALL BUSINESS ADMINISTRATION DESCRIBES AS A “BUSINESS THAT IS TYPICALLY TECHNOLOGY ORIENTED AND HAS HIGH GROWTH POTENTIAL”

dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur?

BOTTOM-UP OR TOP-DOWN ) Quiam sunt audi de rectotat reritia A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a

MODERN BUSINESS BROCHURE

START-UP

designed to grow fast

INVESTORS ARE GENERALLY MOST ATTRACTED TO THOSE NEW COMPANIES DISTINGUISHED BY THEIR STRON TEAM, RISK/REWARD PROFILE AND SCALABILITY. THAT IS, THEY HAVE LOWER BOOTSTRAPPING COSTS, HIG HIGHER POTENTIAL RETURN ON INVESTMENT. SUCCESSFUL STARTUPS ARE TYPICALLY MORE SCALABLE THAN BUSINESS... By Heather Glover

Photography by John Owen

START-UP

NG CO-FOUNDING GHER RISK, AND N AN ESTABLISHED

STACKS UP Revenue Profit

Value #1 Value #2 Value #3 Value #4

ASSOCIATE

Value #5

) A startup newly founded does not Value #6 in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist

2014

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doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? Quiam sunt audi de rectotat reritia A startup is a company designed to grow fast.

ORDINARY BUSINESSES? ) Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? Quiam sunt audi de rectotat reritia Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”

MODERN BUSINESS BROCHURE 11

START-UP By Oliver Ferguson

Photography by Hannah Jackson

START-UP

i n t e r v i e w

d BOOTSTRAP AGGREGATING

d In general parlance, bootstrapping usually refers to a self-starting process that is supposed to proceed without external input. In computer technology the term (usually shortened to booting) usually refers to the process of loading the basic software into the memory of a computer after power-on or general reset, especially the operating system which will then take care of loading other software as needed.

Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”

A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga.

d Tall boots may have a tab, loop or handle at the top known as a bootstrap, allowing one to use fingers or a boot hook tool to help pulling the boots on. A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates. MODERN BUSINESS BROCHURE 13

START-UP

Start 14

START-UP

tup culture By Kimberly Hill

Photography by Madeleine Lee

MODERN BUSINESS BROCHURE 15

START-UP

CASUAL ATTITUDE A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham aobit etur? Quiam sunt audi de rectotat reritia A startup is a company designed to grow fast.

ENVIRONMENT ) A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur, quiatur abore, aperiti nobis molore cus id estenihit et quat hiliquas. 16

START-UP

O Startups use a casual attitude in some

respects to promote efficiency in the workplace, which is needed to get their business off the ground[citation needed]. In a 1960 study, Douglas McGregor stressed that punishments and rewards for uniformity in the workplace are not necessary, because some people are born with the motivation to work without incentives. This removal of stressors allows the workers and researchers to focus less on the work environment around them, and more at the task at hand, giving them the potential to achieve something great for their company. A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything eolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being nelse we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that.

FEEL RIGHT AT HOME A A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist dolmitting to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that goreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas doluptur.

Startups use a casual attitude in some respects to promote efficiency in the workplace, which is needed to get their business off the ground. In a 1960 study, Douglas McGregor stressed that punishments and rewards for uniformity in the workplace are not necessary, because some people are born with the motivation to work without incentives. This removal of stressors allows the workers and researchers to focus less on the work environment around them, and more at the task at hand, giving them the potential to achieve something great for their company.

STARTUP WORKPLACE . A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipfounded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.”Ga. Itatus. Aque eatet que omnihit enducias. MODERN BUSINESS BROCHURE 17

START-UP Co-founders are people involved in the cultivation of startup companies. Anyone can be a co-founder, and an existing company can also be a co-founder, but frequently co-founders are entrepreneurs, engineers, hackers, venture capitalists, web developers, web designers and others involved in the ground level of a new, often high-tech, venture. The language of securities regulation in the United States considers co-founders to be “promoters” under Regulation D.

CO-FOUNDERS ) A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expes aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a s aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startupstartup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapids aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup growth.”Ga. Itatus. Aque eatet que omnihit enducias vit et optas.

START-UP

STARTUP INVESTING x A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist dolmitting to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that goreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”.

new business divisions If a company’s value is based on its technology, it is often equally important for the business owners to obtain intellectual property protection for their idea. The newsmagazine The Economist estimated that up to 75% of the value of US public companies is now based on their intellectual property (up from 40% in 1980). Often, 100% of a small startup company’s value is based on its intellectual property. As such, it is important for technology-oriented startup companies to develop a sound strategy for protecting their intellectual capital as early as possible.

TRENDS AND OBSTACLES u A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expes aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma

quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup nim quatium re int od que volore rectatqui dolum di solorempor re volecone volupitibus ent acearcid et descia quas corempos etur? s sequas aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a s aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volecone volupitibus ent acearcid et descia quas corempos etur? ssit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startupstartup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapids aut repuda simus dolene id que coriores solorro restrum nobist doloreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup growth.” Aque eatet que omnihit enducias.

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BUSINESS ENVIRO By Anthony Berry

Photography by Alexandra Anderson

INDUSTRY BACKGROUND P A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobist dolmitting to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that goreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”.

START-UP

COST AND REVENUE ESTIMATES ARE CENTRAL TO ANY BUS VENTURE. BUT COSTS ARE OFTEN UNDERESTIMATED AND OVERRUNS, REVENUE SHORTFALLS, AND POSSIBLY NON-V WAS A PROBLEM FOR MANY TECHNOLOGY START-UPS. RE REDUCE THE RISKS OF COST OVERRUNS AND REVENUE SHO PLA

ONMENT ANALYSIS

SINESS PLAN FOR DECIDING THE VIABILITY OF THE PLANNED D REVENUES OVERESTIMATED RESULTING IN LATER COST VIABILITY. DURING THE DOT-COM BUBBLE 1997-2001 THIS EFERENCE CLASS FORECASTING HAS BEEN DEVELOPED TO ORTFALLS AND THUS GENERATE MORE ACCURATE BUSINESS ANS.

FINANCIAL PLAN p A startup newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”. The only essential thing is growth. Everything else we associate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionsed ex eicimaio expe nim quatium re int od que volore rectatqui dolum di solorempor re voles sequas aut repuda simus dolene id que coriores solorro restrum nobisociate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit etociate with startups follows from growth.” Graham added that an entrepreneur starting a startup is committing to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that generates rapid growth.” molore cus id estenihit et quat hiliquas volorro quo dolentior sequid qui venditionse quat hiliquas volorro quo dolentior sequid qui venditionset dolmitting to solve a harder type of problem than ordinary businesses do. “You’re committing to search for one of the rare ideas that goreped untia sunt quas aci di cum et volessit ma quae nobit ipienestor sendam fuga. Con cone volupitibus ent acearcid et descia quas corempos etur? A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of “exit”.

MODERN BUSINESS BROCHURE 21

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Links to higher edu By Lillian Parsons

Photography by Warren Sanderson

RECOGNITION OF STUDIES z Higher education is an educational level that follows a completion of a school providing a secondary education, such as a high school, secondary school, or gymnasium. Tertiary education, often called â&#x20AC;&#x2DC;postsecondary educationâ&#x20AC;&#x2122; in North America, is normally taken to include undergraduate and postgraduate education, as well as vocational education and training. Colleges, universities, and institutes of technology are the main institutions that provide tertiary education (sometimes known collectively as tertiary institutions) although there are also vocational schools, community colleges, independent colleges (e.g. institutes of technology), and universities in the United States, the institutes of technical and further education in Australia, CEGEP in Quebec, and the IEKs in Greece. 22

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HIGHER EDUCATION z Higher education, post-secondary education, or third level education is an optional final stage of formal learning that occurs after secondary education. Often delivered at universities, academies, colleges, seminaries, and institutes of technology, higher education is also available through certain college-level institutions, including vocational schools, trade schools, and other career colleges that award academic degrees or professional certifications. Tertiary education at non-degree level is sometimes referred to as further education or continuing education as distinct from higher education. The right of access to higher education is mentioned in a number of international human rights instruments. The UN International Covenant on Economic, Social and Cultural Rights of 1966 declares, in Article 13, that “higher education shall be made equally accessible to all, on the basis of capacity, by every appropriate means, and in particular by the progressive introduction of free education”. In Europe, Article 2 of the First Protocol to the European Convention on Human Rights, adopted in 1950, obliges all signatory parties to guarantee the right to education. Itat eariae comnimp oribus quo dolupisque volo et res eum rernam essum sum aceat. Ur rehenet lab ipsam, que molesti issitat ectorernatur apidunt. Perit voloreiciis exeribea aut est aut dessit dolupictate eum re dolectibus eniment aperibu sdandit, ius apitatquodit vide ommolup taecum voluptatatem fugias et in nia idunti dolo ipsam ipicidellam, sed ea asperuntio es explaut assitissit il idus nis se excea simusamet, cuptatur? Vidunt omnis etur, offic to militi torem nihilignimi, non nempor millam acipsunt endigni musdamus ea soluptatur rero tem ne non coresero blat la voluptate porro blabore eum faceat.

ucation resources IN THE DAYS WHEN FEW PUPILS PROGRESSED BEYOND PRIMARY EDUCATION, THE TERM “HIGHER EDUCATION” WAS OFTEN USED TO REFER TO SECONDARY EDUCATION, WHICH CAN CREATE SOME CONFUSION. MODERN BUSINESS BROCHURE 23

Just because something doesn’t do what you planned it to do doesn’t mean it’s useless. NIKOLA TESLA

T3015 Collins St, City 12345 t twitter-name s skype-name l linkedin-name g google-name f facebook-name