In recent times, a lot of people are starting up businesses but almost 80% of them have been known to fail by the end of the fifth year. Mostly this happens because, the owners do not have the basic idea of how a startup works or rather what exactly makes it work.
Startups have been known to have seven key features. They usually operate from a single office with less than 80 employees having a revenue of less than $20 million. The culture is of rigorous innovation and usually there are less than 5 people working as board members. These startups have also been known to have an ability to scale quickly which remains unconstrained by geography and has also been found to have the ability to solve critical pain points in the existing frameworks.