Startups are considered to be the new talk of the town lately. A huge number of new companies are aiming to imitate the success of Facebook, Instagram, etc. making headlines and millions overnight. So here is the question, why should you join one?
It is assumed that landing a proposition at a startup is risky. In some cases that can be true, comparing to firmly established corporations. The future of a startup is mostly unclear. According to the Wall Street Journal, three out of every four startups fail. Maybe you didn’t even know that there are startups funerals in Silicon Valley. Here the CEOs highlight the mistakes they have made when running the company.
The increase of startups – and this means job opportunities with startups – means any professional or job seeker should consider the pros and cons of working at a startup.
Here are a few reasons we have hand-picked for you to consider a startup for your next job.
1. Difference in the company culture
The company culture plays one of the biggest roles, when it comes to how satisfied and happy you are with your job. So each of us wants to find one that suits us. Working in a startup often means that you can shape the culture around you, which sounds almost impossible for corporate jobs. Larger organizations already have a pre-formed company culture that has existed over the years. In most cases, culture is the same as the coming and going employees. In comparison to this, in a smaller team, you and your colleagues can have a direct impact on the working environment. Besides, you are able to share your ideas and provide valuable feedback on improving or changing to make sure that everyone is happy.
As you know, most startups are small. This is a great chance to get to know your coworkers very personally, create a good relationship with each team member. Working at a startup is almost equal to being part of a close-knit family.
Imagine working in an open office where an intern can speak directly to the CEO, discuss some issues or project ideas and give feedback to experienced professionals. Diversified opinions are not only widely accepted during meetings and brainstormings but encouraged, while bold ideas are accepted and actually executed.
2. Personal and Professional Growth
It is well-known that startups are ever-changing. For you, as an employee, if you do your job well, you could fast land a management position, a lot quicker than in an established company with a defined hierarchy.
Working at a startup is a great way to build upon your existing skill sets, gain valuable experiences in many functional areas, and, if you are nor scared of it, take on a ton of responsibility. As soon as the company grows, so will your career opportunities.
A competitive salary, benefits, job security, and work-life balance are on top of the list for most job seekers, but I hope you agree that career growth and strong leadership matter too. Generational trends reveal different priorities. Career performance is paramount for Gen X workers. Company culture, growth potential, and work-life balance are important for Millennials/Gen Y.
And last, one more benefit for joining a startup is because of its unique experience to help build something, be an inseparable part of its growth from the very beginning, which includes living the high highs, low lows, and everything in between.
3. Creative Environment
Instead of the typical scenario that you’ll find in most large companies, many startups have creative work environments that are designed to increase employee creativity. It’s even ok to exchange the suit and tie with the jeans and sandals.
Any person you know who works for a startup will tell you that they can easily chill out with his team or even bosses after work. Most of the startup employs young people who are ready for determination to give their best. Many excitements show that working with people you like, makes solving problems easier. This mostly happens because you can always walk up to the person and have a one-on-one conversation or important discussion.
There is no doubt that you are given a lot more freedom in a startup. This helps to get the work done in a way that you feel works best for you specifically. This can also refer to the working hours.
To cut in short, all employees are welcome to have input in a startup environment. As a result, this critically reduces the sense of hierarchy in smaller teams, one day you may find that you are working alongside professionals of all levels of seniority, including the CEO.
4. An Entirely Different Way of Thinking
Let’s first define what exactly is important for you in your job. In most jobs, a lot of what you do is following pre-set procedures that have been done before you. Larger companies already have a standard “way of doing things” for almost every aspect, starting from manufacturing to marketing and putting meeting agendas. And while new ideas are often welcome, usually they fall into a framework of how the company has operated in the past. (So, in case of solid ideas, it may sound like: “cool idea! Let’s put it in the Q2 product roadmap”).
Be ready that at a startup you are most probably building everything from scratch.
You are right, my friend, if you imagine designing, building, and creating requires a completely different skill set than following a standard pre-set protocol. As a matter of fact, recent research outlined important factors driving the evolution of our workforce. One of the most important skills is the ability to think beyond what’s been done before. Another one is so-called “transdisciplinary thinking”, aka the ability to think beyond your functional role. These are the two of the key abilities that will play an important part in your future success.
5. You will be challenged but work will be recognized/ Loads of opportunities
In a startup, it’s impossible to ignore an employee who is doing a good job, as very much is visible. If the credit is due, it’ll be yours for sure. Spread your arms in glory, my friend, your work has been recognized. If it’s teamwork, the small but efficient team will be appreciated. However, be careful, as your mistakes will be noticed too, which is never a bad thing!
In most cases, a startup may not pay as well as a successful corporate job. However, there are other benefits. It is obvious that you (or your degree) may be worth more than a startup is able to pay. Anyways, working at a startup offers a different type of reward, which are an incentive-based system that isn’t based on dollars, but rather in skills attained and opportunities seized. This type of experience will outweigh the pay cut.
Be sure as a startup grows, your scope of responsibility and experience grows simultaneously. From a young and experience hungry employee, you will accelerate your career to a competent professional. Startup companies provide the best possible opportunity, it is even said that startup years are like dog years – one year at a startup equals seven anywhere else.
6. You will learn from true innovators.
People who start their own businesses have a different mental setup than those who have never thought of creating something for their own. These people are defined by seeing a problem, thinking of an innovative and original way of approaching it. Due to this innovative nature, entrepreneurs are some of the best people to learn from. They address issues differently, are constantly thinking of solutions, and are driven to make the most out of their time and work. Innovators constantly challenge when you present a problem because they often view it from a different perspective. Always remember that every successful startup has a true innovator, and if you find the right ones, you’ll learn plenty.
7. Quick Promotions and Impressive Job Title
Obviously, the corporate world has the schedule for promotions, which generally follows a set path; before employee shifts to the next role, they need a year or two of experience in the current position. This means that in some cases there will be no promotion as “that job just isn’t given to 27-year-olds.”
At startups, especially in the early stages, the related experience you have matters much less than what you’ve proven you can do once hired. Often, people who join a startup at the early stages and are part of its growth, responsibilities, get job titles that they never could have dreamed of at a bigger company. Working at a large company, you might be involved in everything: strategic decisions about business operations, culture, financing, budgeting, and so on, which are typically made by the C-levels or a board room, behind closed doors.
No, startup life isn’t for everyone. The last thing I want to advise is to evaluate what you expect from the company and how you see your future. By doing this, you can determine what is right for you. Of course, startups may fail, but there’s always a chance it will succeed.
First of all make sure you understand your career goals, what you hope to get out of the experience and how it all fits together. As startups can be here today – gone tomorrow. Besides, they are often quick to hire and quick to fire. In case you prefer long term stability, it’s not the right choice for you.
If you want personal growth, it is great for figuring out what you’re best at and excelling in it.