Joining a startup is tempting. Who wouldn’t want to work in a fun, relaxed environment and bid goodbye to overly formal emails, ceremonial Monday morning meetings, and an overall stiff environment? Startups seem to be an ideal place to meet open-minded individuals and encounter countless opportunities to shape the future of a company. Working at a non-traditional startup has loads of benefits but also comes with a set of cons. Read on to find out what you must know and consider before joining a startup.
Prepare for your dive into the startup world with these 8 considerations
Pros of joining a startup:
1. You will grow and grow fast
A startup generally has low employee strength, so it is obvious that everyone does almost everything. While no pre-defined key result area (KRA) might not sound like the best deal, it can contribute greatly to your learning.
If you are in the initial phase of your career, joining a startup can do wonders to your professional growth. In a small firm, you won’t restrict yourself to doing just one or two things everyday but will have a plethora to choose from. You can evaluate what you love doing the most and carve a career in that field. Say bye to monotony!
2. You will meet passionate individuals
A startup is an ideal place to find people who really, really love their work. The adoration for the work they do for the company shows and energises the atmosphere. This is quite unlike a lot of big companies where everyone mutually mourns the arrival of Monday morning.
So, if you want to feel motivated and thrive during your time at work, join a startup. It will also give you a chance to work with and learn from some of the most zealous people you will meet during your career.
3. You will have flexibility
From wearing jeans on a Monday (or every day) to working from home twice a week, you can enjoy it all in a startup. In well-funded startups, free food, free drinks, and sometimes even movies can be a part of your regular day at work. Too much fun? It is. Working at a startup gives you a lot more flexibility than working at a formal, corporate office.
So, if you are unwell or cannot really travel to your workplace, you can work from home or if you have something lined up during the day, you can finish an assignment late evening as there are usually no clearly defined work hours. Welcome to a world where everything is cool as long as you respect your work.
4. You will never get bored
Notice how people turn into robots doing the same things over and over for years together? You will never be one of them if you work for a startup. With you and your colleagues trying new things every day, testing what’s working for the firm and what’s not, reading up on the topics you love, nurturing your interests and of course, picking up pizzas on the way to work, there will never be a dull moment!
Your brain will constantly feel the need to innovate. All this is beneficial to the company’s as well as your personal growth.
Cons of working in a startup:
1. You will always have a sword hanging on your head
Startups are risky. According to statistics, 74% of high growth Internet startups fail due to premature scaling. Now that’s a huge, scary number. You don’t want to work at a startup that shuts down in no time. However, when you join one, you must be prepared for the worst.
What you can do to save yourself the trouble is research enough about the financial backing, investors, and founders of the company. You can also always have a Plan B ready in case this one fails.
2. Money can be a problem
Not all startups become successful in a short time. If you join a startup it will be expected from you to be prepared for all sorts of ups and downs. These could be those related to working hours, facilities and sometimes, even salary.
You might have to take a pay-cut temporarily or wait for a few months for the salary to be credited in your account. So, don’t expect the salary scene to be as smooth as that in a big, fancy MNC.
Related: Should You Ever Take a Pay Cut?
3. Be prepared to slog
Since it is a startup, you will have to put in extra hours, extra efforts, and extra optimism every single day. Get ready to bid goodbye to the regular weekend offs, 9-5 working hours, and timely tea and coffee breaks.
While startups do come with a relaxed environment, they bring along erratic work schedules and a ‘no work is too small’ attitude. So, roll up your sleeves and get ready to get your hands dirty.
4. Lack of additional perks
From travelling business class to having a hefty health insurance, you will mostly have to say goodbye to all these perks. Since most large corporates have tie-ups with airlines, health insurers, and a travel desk, life is easier there. All these benefits over and above the salary only make you love your job a little more each day.
In a startup, on the other hand, you will have to find travel deals yourself and have a fairly low health insurance plan. On the bright side, you might be able to book your tickets yourself and earn rewards on your personal credit card!
Working in a startup and getting a job in an MNC are two different career paths. Choose wisely!