Pre-Venture. You are considering starting a business. Is this idea feasible; can you make it work? You are experimenting with different plans and looking for the best ways to market and operate a business with the financing you have or could get.

Never chase money without first solving your marketing and operational problems.

Startup. You have taken some actions to start the business. If you have registered the business as a corporation or LLC, made financial investments in the business, or made any sales, congratulations. You are a new business owner. 

Small/Medium Business (SMB). You have been in business for two years or more, with revenues at least $100,000, and employees or contractors other than yourself. Small businesses vary and are relative to industry. Small businesses are usually defined as businesses with fewer than 100 employees and less than $50 million in annual revenue. Medium businesses are generally organizations with 100 to 999 employees and annual revenue greater than $50 million but less than $1 billion.