Working in a startup company is a growing trend. Many relate to working in a startup as working in a cool, fun and casual environment that has rapid growth. While it can be true that working for a startup can be fun and at times life-changing, it can also involve a lot of risks. According to the Wall Street Journal, three out of every four startups fail. If you are considering joining a startup company, here are some factors you should consider carefully.
Most seasoned companies will have well-defined processes and guidelines that provide the basic framework for most employees to carry out their responsibilities. Employees will work in a well-established office with proper reporting structures and desk assignments. In a startup, it’s a totally different environment where most employees work out of a co-working space. Reporting structures and project plans can change every so often. Such frequent changes can be frustrating but to succeed in a startup environment, one needs to embrace chaos. You must be adaptable to these changes with a very open mindset.
Being a team player is the most important traits one must have in order to thrive in a startup company. One will be required to roll up the sleeves and get the hands dirty. “This isn’t part of my job description” should never cross your lips. Many join the startup wagon thinking that this will help them in polishing their resumes but gets a rude shock on having to perform a variety of tasks from the mundane to the challenging. However, if one focus on thinking how they can contribute to the company, one will find the challenges to be most satisfying in one’s career.
Job stability and challenges
While you may love your job in the new startup, you may not be able to keep up with the pace of changes happening. You may find yourself taking on many more new responsibilities and some may not be aligned to your career aspirations especially if you start to put in longer hours on the job. There is also the high risk of startups failing within the first few years especially in the face of technological advancements threats.
Monetary perks may not be what most startup can offer compared to the established companies but there are many other perks that startup will offer. Most startups offer flexible working hours and a casual atmosphere. Working from home is also a common trend since most of the employees work out of a co-working office which may not provide a very ideal environment for conference calls. Much discipline will be needed so that such perks are not abused.
The reality of startup companies may not be for everyone so before you jump onto the bandwagon, you should spend some time evaluating what you want out of a company and determine if this is the right fit for you. Regardless of the challenges and perks, you will undoubtedly walk away with a very unique experience which will definitely add flavour in your career path.