Many people are taking the entrepreneurial drive and creating their own startup companies, and these companies are designed to help provide more employment and stimulate a growing economy. However, while joining a startup can deliver a variety of perks to you, it can also come with some risks. If you’re interviewing for a position at a startup company, here are some things you need to know before accepting the job.
You’ll have to adapt to change.
Startup companies are just getting their feet wet, and this means that company policies, procedures, and job needs will change at the drop of a hat. If you are someone who likes to have a set schedule and doesn’t adapt well to change, then a startup is not the right atmosphere for you. Instead, you need to be willing to change your responsibilities, tackle different projects, and adapt to new policies quickly. If this type of environment sounds like something you’d appreciate, then a startup company is the right place for you to make a career move.
Perks can disappear.
Many startup companies like to attract employees by offering certain perks, such as a kitchen full of free snacks, half-day Fridays, a happy hour in the office, or anything else that stands out from traditional office practices. However, as the company grows or hits a rocky quarter, these perks may soon become obsolete because the company cannot afford them. If you are only taking the job because they allow you to play ping pong instead of sitting at a desk, then you may want to consider another company or find other reasons this startup is a good fit.
Traditional benefits may not be available.
When looking for a job, there are a variety of things to consider: the future of the company, the ability to grow, the money, the commute. When looking to work at a startup company, you may realize that traditional benefits you’ve received from other employers may not be available. For instance, companies with less than 50 employees do not need to provide health insurance, which means you may need to pay for this on your own. In addition, you may not have benefits like paid maternity leave or a 401K option either. If these are things that are important to you when making a career decision, then you’ll need to factor it in before deciding on the startup.
You may have untraditional hours.
Most people have accustomed to the 9-5 working hours associated with most companies, but since startups are new to the game, they need to work extra hard to get the company name out there. This means that you may be working longer than eight hours a day. For some people, this is fine, but for others, it eats into their work-life balance, and this can be a problem. Be sure to find out what hours you’ll be expected to work before you sign any contracts, and use this to help you decide if this is the right move to make.
You could see future rewards.
If you start with a startup during its infancy, you may be able to get some percentage of the company. At first, this may not seem like much, but if the company grows and is successful, this little investment could turn into a huge reward. Even if you’re not offered a share in the company, a successful company may reward their first employees with nice promotions or other perks as a thank you for staying on and helping to build the company.
You may start before the company actually launches.
Startups need to do a lot of work before the company actually gets off the ground. This means that startup companies will be looking for talented people to tackle certain jobs as soon as possible. For instance, startup companies like Boat Planet started marketing efforts before the company launched, which included building a website to let people know they exist. If you’re going to work for a startup company, you need to understand you’ll be needed to do a lot of activities to get the company ready to launch.
Working for a startup can bring a lot of freedom, excitement, and reward, but it also comes with some risks. If you’re considering working for a startup company, then you’ll want to factor in all of these things before making your final decision.