There is a huge difference between starting up a business and setting up a startup. If you are becoming a travel agent or setting up a grocery store, you are only setting up a business. The business model is well defined and you may be using some of your skills to execute on any available business model in the market. The same business becomes a startup if you are employing any innovative methods in your product, platform or marketing or any other facets of the business. Instead of becoming a travel agent, if you create a travel portal like Priceline or Makemytrip thereby enabling consumers to book tickets online, it becomes a startup. Hence startup is not about starting a new business but about innovation solving an existing problem or creating a new ecosystem to solve an identified need.
A startup that does not innovate is simply not a startup. You may just call it a new business or a new entity.
This is an extract from my book – Sack the Startup