It has to find *and validate* the model, but that's an amorphous goalpost. Start...

		DavidAdams on Sept 28, 2012 \| parent \| context \| favorite \| on: How much can I sell my startup for? It has to find and validate the model, but that's an amorphous goalpost. Startups stop being startups retroactively. They could look back a the recent past and say, "that point in time was when we finally validated the business model that we're now kicking ass on, that's when we stopped being a startup and became a fast-growing company."

that sums it up well to me, the switch is not so immediate for most companies