Startups are a huge thing in today’s world but they are not all glory and shine. Working with startups can be risky and if you join a wrong startup then there is a high possibility that you might end up failing. This article is about the things you should research before joining a startup. But it doesn’t mean that startup CEO and entrepreneurs do not need to read this.it can be useful for them as well because they can learn concerns and feelings of the people whom they are going to work with. If a founder is willing to pit his heart into his/her startup then he/she should be ready to make the environment in such a way that all his employees feel the same way and that’s where this article will be useful for all the people who are somehow related to startup concept. So here we go.
joining a startup is somehow like joining a pirate crew. You are going to sit in a ship and sail in uncharted territories full of rivals, so stability is a huge concern for the people who are going to join a startup company.
This stability is directly connected to trust and all the issues related to that. If you feel like you can’t trust the management team then it will be hard to put your heart into work. On the other hand, do you trust the business as a whole? Do you believe in the particular business which a startup is joining or you feel like the ship is on the wrong winds?
Employees should fell secure in both work and finance aspects of a startup and that’s why they might need financial statements checked before joining in. as for the pirate example, if the crew don’t trust the captain then the whole ship is doomed to sink and that’s why CEO and founders should come in clean and open with their employees so if they feel like they can’t stand one another then starting is wrong.
Acquisition or independency
Big companies are buying startups every day but as an employee, this can be a huge risk. What will happen to them if management shifts after being acquisitioned bigger company? This is a huge concern that can be solved by paying attention into details in contracts. So if you are going to be a good boss and a good leader then you should make contracts in a way that protects your team even if your startup become a part of a huge industry giant.
Future and potential
Most of the startups start based on a brilliant idea but what will happen next? What if that idea reaches the saturation level? Where the company will go next? These are the questions that many people have in their mind before joining a startup. These questions can be rectified easily by making it clear that the startup is not dependent to only one idea. Show them how big is your sea and they will love to set sail in it.
In today’s world, data is knowledge and knowledge is gold. But will you put your chips on unsecure gold? The same thig goes for startup companies. Employees should check company’s security before joining them to make sure that they can protect his work.
If a huge breach happens to a startup then employees will not only be at the risk of losing their job but they might even lose their goodwill and name in the process. That’s why making sure of security is a must for both employer and employee.
Backup plan in case of failure
We all might fall but winners are the ones who stand and continue. That’s the whole core of this point. What if a startup fails somehow? Can they go back on their feet? Do they have a backup plan? What if disaster comes knocking in? A startup should have a recovery plan and employees should know of its existence before starting their work. If they know that the startup has such plan then they can support it in the time of need.
So here we are with more knowledge about joining a startup. What do you think is important to know before joining a startup? Let us know in the comment section below.