A Startup usually is an idea, contemplated to solve a problem by developing a viable business model around an innovative product, service, process or a platform. Nowadays, number of startups are budding due to creative ideas, favorable marketplace and funding sources.
Most of us want to show our potential and reap the early bird rewards by becoming part of these startups, either as an employee or co-founder. In spite of the thought that it’s going to be very tough and challenging, in our subconscious mind we are considering joining an exciting startup that will change our professional and personal life forever. Given all the prospects and challenges, a question now arises that should you really join a startup? Though it is true that the position may be full of potential, but you must consider all the pros and cons before doing something radical, so just look into these few pointers and decide whether you should join a startup or not.
- More riskier:
Startups are very new to the market hence more susceptible to failure. It may not be sufficiently funded or properly managed. Employees may have to work on a less pay or no pay for some time till the company starts making money and you will get the benefits out of it. Another thing could be a possibility that the startup may not succeed as planned as many startups fail during first 6 months after their start. So weigh the risks verses the benefits and then take the step forward.
- Work for money:
Startups may not be very lucrative every time and may not pay you hefty salary as you expected as they are just emerging and starting to make their stand in the market. All startups are not that much lucky to get funding from initial days to support their idea and therefore not able to pay enough to their employees. It happens mostly in non-funded startups.
- Wondering about Position or growth:
Another important thing to consider is the growth in the organization. You might get a good position in the initial stages of the startup but not always you will grow with it. So before taking any decision, be sure to envision the growth potential for your position and the company itself.
- Seeking Stability and long term career:
If you are seeking for stability in your career, then joining a startup may risk your dream of long term career. The startups itself is not stable unless it runs for some years; therefore thinking for permanence is sometimes a mere day dream. It is not necessary that every startup will fail but working with a startup is surely a wager.
- All work and no play:
As startups have a low profitability initially so the employee strength could also be low and you could be overloaded with lot of work and may have to do overtime to complete the job at the stipulated time. You can land up doing more than your pay grade.
- More responsibilities:
It’s true that handling more responsibilities tends a person to learn and explore more things; however in startups you could be taken as the whole sole person to take all the responsibilities and may need to work as founder, officer, and clerk and sometimes as peon too. As people working in budding startups are less, many gifted responsibilities will be on your way every time and may be every day.
- Dynamic working environment:
In startup, every day is not same and hence you should learn to work in a dynamic environment. Ups and downs are part of a startup until it gets settled as a business. What happen if recession hits? What happens if customers denied service? What happens when investors stops funding? There are various factors on which success of a startup depends and if these factors change everything will change.
- More clatter:
In a startup, many times you could feel uncomfortable to work with colleagues and have fight on various topics. This battle may continue and may frustrate you for days. Harmony with all employees is sometimes not possible and clashes on small topics may lead to a chaotic work environment.
After properly evaluating the risk v/s benefits you should decide, if joining a startup would help you in your career progression or lead you to dooms day.