Startup mania is trending these days and we can spot many college grads from premier institutes jumping into their own venture or joining established startup companies like Flipkart, Snapdeal or Uber. Technology has given rise to many new business ventures. Even there is a new breed of social entrepreneurs that has emerged as a boon to the society. Startups are quite different from typical workplaces and it is difficult to exactly describe how a startup workplace is like. Each workplace has a different environment, culture and people. If you haven’t worked in a startup and you are planning to join one, we have compiled a list of few things that you could take into consideration before joining a startup.
Founders of the startup: Try to find out the founders of the startup you are keen to join. Gather as much information about them as possible like what are their previous experiences, their professional background and their achievements of course. But a word of caution; don’t judge the founders based on their previous failures because it doesn’t necessarily mean that they won’t be successful. In future. Instead, try to learn more about them because failures teach lessons that are unforgettable throughout the life.
Stage of the startup: This is a very vital point to ponder upon. If the startup you are keen to join is in the initial phase without seed funding, then it would be a big risk on your part to join them. On the other hand, startup that has been gaining enough traction with the product showing promise and customers receiving it very well, there is a huge chance that the company is trying to secure funding. I suggest you to join this company because if you join before the first round of funding, then you might be able to pick some equity and ESOPs.
Work culture of startup: A startup is defined by its culture and most of the startups have amazing culture. You would find people sitting in a bean bag and enjoying music on their earphones while working. It might be unusual to work for the candidates who are not accustomed to this type of workplace. You have to decide which culture fits you and should thoroughly research about the startup that suits you.
Your role in the startup: If you are considering joining a startup giving up your corporate job, then it is extremely important to figure out your role in the startup. Will it be just another 9-5 job or you would get a pivotal role to play in the success of the company or any one of its products? When you know your exact role and its impact on the future of the company, then you would be motivated to work even harder.
Role of the mentor: when you are at the start of your career, it is imperative to concentrate on learning rather than your paycheque. Startup companies are the best place to learn and it is very crucial to find a mentor with effective leadership qualities in the startup. You have to consider whether your mentor should be experienced to guide you during the initial days. Having a right mentor who shares his knowledge and experience with you, teaches you tricks of the trade, would take you to a long way in your career.
Don’t get sold on the idea of startup: Startups are hiring on a large scale and they are offering hefty packages. It is quite evident that young professionals get lured away easily by high salary and ESOPs. One thing what most of the people tend to ignore is the idea on which startup is based. Understanding the idea and more importantly believing in it contributes greatly towards your mindset after you start working on a startup.