Understanding Blank's definition of Startup

Let us see how Steve Blank's defines a Startup as:

"A Startup is a temporary organization formed to search for a repeatable and scalable business model."

[Steve Blank]

When you first look at this definition of startup, a few questions may arise.

• When is meant by a temporary organization?
• What is the Goal of a startup? 
• What does a startup search for?
• What is a business model?

 Let us look at these closely.

Temporary Organization

A Startup is a temporary organization, the reason it is called temporary is because its is specifically designed to achieve a goal - and after its goal is achieved it will no longer remains a Startup.

Startup's goal is to search 

Because Startups do not know what they are doing. That is why they have some people who are comfortable dealing with "how to deal with unknowns?".
The goal of a Startups is to search for repeatable and scalable business model.

 

Business Model

Business Model is a broader subject, and requires separate article or study circle session.
In short from a Business perspective - a Business model portrays the answer of following general questions.

• how your company creates values?
• how your company capture value?
• how your company deliver value?

NOTE: The specific success criteria may be measures depending on your company's metrics of success.

In simple words a business model means how your company makes money.   

In the end I have a question which definition do you like more? and why? Steve Blank's definition or SBA definition of a Startup? Leave your comments.