The exciting Pros and Cons of working for a startup companyWould you work for a startup, in order to have more flexibility and freedom of choice?
According to the Business Dictionary, a startup is the “early stage in the life cycle of an enterprise where the entrepreneur moves from the idea stage to securing financing, laying down the basis structure of the business, and initiating operations or trading.” Therefore, we are dealing with a business that is still on its primary stages, usually financed by its founding members. When a startup company shows sufficient growth, investments from outside start coming in, ensuring a higher degree of stability.
While on one hand investments are hugely important, on the other primary and secondary market research is considered strategic for any startup, because it allows “to fully understand the feasibility of the project as well as key target market information.” (Small Business)
With no doubt, if you decide to work for a startup, possible disadvantages are just around the corner, therefore we advise you to always perform a thorough research about its reputation.
Whether you are at the beginning of your career or an experienced professional looking for a new challenge, knowing all pros and cons of working in a startup is always a good thing.
According to most studies and online surveys, such as the one conducted by VentureVillage, the main advantages are “work environment, flexibility/freedom, more responsibility, and steep learning curve.” Instead, the disadvantages that emerged from the survey results are “lack of structure, low compensation, long working hours and uncertainty/instability.”
- Fun and flexible team culture – the lack of structure makes a startup a magical place where to work and learn fast. You will feel less restricted and limited because the company has yet to become a bureaucratically complex machine.
- Agility is the way to go – a startup is usually considered to be an innovative working place. In order to grow at a fast rate and achieve monthly business objectives, agility has to be part of the process. An immersive use of all digital tools and innovative methodologies can improve the way all tasks are performed.
- Freedom – once you’ve become part of a startup you can use your position wisely and freely. You are going to be in charge of plenty of projects, and managing your freedom is a smart way to facilitate your daily routine.
- Stress factors – a startup is a fast-paced and hectic environment, and stress can become a factor that you mustn’t underestimate. Sometimes you will be asked to multitask or will have to be subjected to sudden management changes.
- Economic instability – this is maybe the most important item that needs to be carefully taken into account. If for you this type of instability is uncomfortable then you should review your motivations before entering a startup.
- Relevant effort – there are many advantages if you decide to onboard a startup but keep in mind that a considerable effort will be asked from your side. It is all about ownership and teamworking, believing in the same dream, all together with the same passion.
If you are curious to discover what the startup market has to offer, explore our job opportunities!