He differentiates between the two by writing:
A startup business – lacks a repeatable and scalable business model and lacks certainty.
A traditional business – proven many times before so you can take advantage of that information, research and learning which has been perfected, potentially over hundreds of years.
If you are not doing something new, then it is not a startup! You cannot apply all traditional business concepts before launching your startup product, primarily due to the level of uncertainty and the many unknowns.
This raises some interesting challenges to a startup, embarking on creating something totally new….
What existing tools and techniques are available? What path can be followed? How do you know…
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