5 Things To Know Before Working At A Startup
Career Paths

5 Things To Know Before Working At A Startup

Fancy working for the next Google, Facebook or Amazon? All of these were startups once which makes working for a startup a popular career choice. Is it right for you? Check out the 5 things you need to know before working for a startup.

Working for a startup is exciting. Often at the cutting edge of technology, they are undoubtedly some of the most sought after employers and applications to startups are always high. However, working in a startup is not for everyone. If you are thinking of working for one then there are certain things you should know:

1. You Need To Be Comfortable With Risk

Figures published by Tech.co compiled by the Statistic Brain Research Institute shows the percentage of startups still operating after four years:

  • Finance, Insurance and Property – 58%
  • Health and Education – 56%
  • Agriculture – 56%
  • Services – 55%
  • Wholesale – 54%
  • Mining – 51%
  • Manufacturing – 49%
  • Construction – 47%
  • Retail – 47%
  • Transportation, Utilities and Communication – 45%
  • T. – 37%

You have to be extremely comfortable with risk. Even in the most successful startup industries of finance, insurance and property, 42% of startups do not survive four years. If you are looking for stability, working in a startup is almost certainly not for you.

You Need To Be Comfortable With Risk

2. You Need To Be a Team Player

Whilst there might be defined roles and responsibilities in a startup, you also have to be prepared to roll your sleeves up and get stuck in. So whilst you might have quite a senior role within the organisation, you’ll also be expected to pitch in with the more menial tasks. If you’re not prepared to get your hands dirty, then a startup is not for you!

3.You’ll Need To Be Comfortable With Change

When you start work for a company that has been in business for a number of years, they have well established rules, regulation and procedures. At a startup however, many of these things may not have even been implemented.

You may even find that your job location changes often too. Startups often rent shared offices to give them the flexibility to grow quickly. This means that you could find yourself working in a different location time after time. If you relish change, then a startup is a great choice.

You’ll Need To Be Comfortable With Change

4. The ‘Startup Culture’ May Not Always Be Present

There’s no doubt that working in a startup is exciting. With so many stories of startups like Google, Facebook and Amazon, it means that there’s a lively and optimistic culture in all startups. But don’t think that the informal and fun nature of a startup will always be there because in many cases it won’t. If the startup you work for begins to grow, it will almost certainly have to change the culture and become more of a ‘regular’ business with more rules and regulations.

5. Your Importance May Diminish As The Startup Grows

Most startups begin with a brilliant idea and a bunch of talented individuals. If you’re one of those then the early days whilst being hard work can be tremendously exciting. However, when the company attracts more investment and starts to grow, experts will almost certainly be brought in and that can make your position seem under threat or at least lead to you feeling less valued. It’s a common scenario and one that you should be prepared for if you’re looking at working in a startup in the long term.

Working for a startup isn’t for everyone but if it is for you, it can be a very exciting albeit risky career move.