Abstract
Research paper is summarizing results of project focus on business models and strategies of startups. The research was focused on identification of business models and strategies of startups. Research sample was creating from more than 70 startups at the beginning of the research and we finished research 3 years later with 53 startups. This research paper is partial output that analyze startups in global business environment in terms of doing business abroad and making strategic steps. The aim of paper is identify basic strategic steps and decision making of startups through selected indicators such as market presence and entry modes focusing on the last stage of research. Startups business model were also analyze and part of the output is mapping the shifts in business model Canvas of startups.
Highlights
Startups should be able to serve exponentially growing demand without a proportional increase in costs
A key startup recommendation is to focus on creating Minimum Viable Brand (MVB)
According to an article by published Garber, Fund [7] minimum viable brand for startups is based on these key components: purpose, people, proposition, product and personality All these strategic steps and decisions about product development, marketing, building brand, get a new users, keep and manage the existing customer, managing the customer segments, decision making about entry modes and how to scale are often gradual strategic steps that shape strategy and trigger changes in business models
Summary
Startups should be able to serve exponentially growing demand without a proportional increase in costs. Dave McClure, 2014 [1] claims that startup is a company that does not know exactly what its product is, who its customer is and how to make money. As soon as startup finds the exact answers to these three questions, it ceases to be a startup and becomes a real business Osterwalder and Pigneur [2] define a business model as a fundamental principle of creating, capturing, and offering the value to customers. The business model, the characteristics of business activities, and the specific strategy that should be global or at least regional, especially in the case of a startup from small local economies, are crucial in term of building the successful startup. The success of a startup is a scalable and saleable product that should be associated with effective market targeting and branding and positioning. It is important to find the right investor for startup, and if you are getting financial resources, do not just rely on one source, and search for other options like government programs, investors or venture capital
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