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We could also flip that around. Startups are nothing more than small businesses. Most will fail. A few will go on to become somewhat bigger. One out of a million becomes a Ralph Lauren empire. What's the difference really between a small business and a startup?

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Startup just sounds cooler, that's why - in reality there isn't a difference. A single parent starting up a hair salon or restaurant is also a startup, it's just a new business being set in motion.

http://www.paulgraham.com/growth.html

That's a good definition, and a very useful one for VCs . It's also not how most people are using the word. It's not how dictionaries or wikipedia define the word either. So I think we need to be a little careful and make sure everyone agrees on whose definition we are using at the start of a conversation.

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