There’s an entrepreneurial culture that has evolved with the unfolding of the tech revolution. Many young people aren’t looking for regular 9-5 jobs. They’re searching for opportunities to express themselves creatively and get paid for doing so. While it’s true that modern technology has made it easier for energetic, fired-up youngsters and older experienced hands to seek out adventurous, industry disrupting ventures, the startup culture has become more than just about building apps and pitching to investors. It’s a whole new way of life.
The excitement of being part of a small company with growth potential lures many talented people away from safe positions in well-established firms, and towards budding startups. But building a startup into a successful company- which is what startup teams do -is no easy task. It can be extremely demanding, and it’s not a route to be taken by the listless and risk-averse. You shouldn’t go into it without being prepared for an exhilarating, energy-sapping roller coaster ride.
If you’re thinking about joining a startup, you’ll do well to reflect on the following points before making a decision.
- Your motivation
There has to be a good reason for choosing a bunch of adventure-loving entrepreneurs over a firmly anchored establishment that has been in business for decades. It’s usually about being part of something that could become really big in the future, or just developing your own skills. Ask yourself these questions:
- Where is the company headed? Does it look like it has a great future?
- Will it give you the experience you need to move ahead on your career path? Don’t become part of a venture if you don’t believe in their product. If you’re not convinced about what you’ll be pushing to the market, you won’t put in your best to make the venture work.
2. The Startup Team
Startups can’t survive if their teams are plagued by tempestuous relationships. You’ll understand how important it is to get along with teammates when you realize that you’ll be spending very long time stretches working with them. Communication is key, and if there’s little or no bond beyond what work makes necessary, the startup project may not run as smoothly as you hope.
How do you know if you’ll be able to relate well with the other members of the team? You may observe their speech and conduct as you interact with them in interviews or informal discussions. If you see yourself struggling to cope with having them around you for extended working periods, you probably shouldn’t join them.
3. The company’s finances
You might insist that it’s not really easy to know what the financial outlook for the startup is like. But the unwillingness of a startup to tell you what its finances generally look like could be a warning sign (however, you should guard against coming off as irritatingly nosy if it’s a more established startup with a formalized recruitment process).
One way of determining the financial state of the company is by looking at what the demand for its type of product is like. If there’s a real market for its output, then it’s possible that its finances are alright. However, you should try to ask questions about the startup’s revenue generation model, so you’ll be sure that you’re not walking into something that’s just waiting to implode.
4. Opportunity cost
Have you weighed your options? Take a long, hard look at the costs and benefits of joining a startup, and measure them against the rewards and demands of things you could do if you decided against working with a startup. Note that your startup isn’t likely to pay much in the beginning, though it could give you more time and space to hone your skills than a regular 9-5 would make possible.
At the base of this consideration is this question: is the startup worth the time and effort you’ll be investing in it?
5. Values
This covers a whole range of issues: priorities, work ethic, morality, relationships, etc. You’ll be better off working with a startup that shares your values. This one is a deal breaker. If you get it wrong, your time with the startup could be torrid and short lived; if your values rhyme with the company’s, your work with them could turn out to be a success.
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This article was first published on 27th September 2017
ikenna-nwachukwu
Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.
Comments (1)
I love this write-up, deep, motivation is one vital key