There’s always an ongoing debate in the entrepreneurial community about what makes a newly founded business a startup (growth business) vs a lifestyle (small business).
Today I came across yet another perspective on the growth vs lifestyle debate. This one comes from Atlanta serial entrepreneur and angel investor David Cummings from back in 2010. Cummings states:
Growth businesses have a repeatable sales process that doesn’t involve the owner/founder.
In short, the conclusion Cummings is making is that if you are required to be there everyday to generate revenue for you business, then you are not working on a growth startup, you are creating a small lifestyle business.
Either one is ok, just make sure you are clear with yourself on the time commitment and financial outcome your choice may or may not limit you to.
Read the full blog post from David Cummings here.