“Rise up, start fresh and see the bright opportunity each day”, Sounds interesting and intriguing at the same time? This is how life is when you are employed in a start-up!
A crazy idea related to a product or service with a potential to solve challenges of a group of people, community, country, and/or the whole world, when clubbed with other essentials like the brain where the idea was generated, the money to go into the idea and the very place where all this would finally meet, gives birth to a start-up.
“A good idea is worthless without impeccable execution and a commitment to iterate” – Zach Klein (Co-Founder, VIMEO)
According to a study by Small Enterprise, 90% of the start-ups do not make it to the third year. It could be due to many reasons (Leaving apart the current pandemic, COVID-19). Yet, as you were reading through the introduction of this topic, there are at least 4-5 start-ups being born at this very moment.
The most essential element of any start-up is its team. Data shows us 60% of most start-ups fail because of its team. It becomes crucial for an entrepreneur to find its tribe for sustainability of business. As an entrepreneur one can identify the right set of people that they want to work with.
A right set of team members can help your startup achieve great heights. It is rare to find people who have a shared passion, commitment, and persistence. Yet, successful entrepreneurs overcome these hurdles & have a unified team.
“Great things in business are never done by one person. They’re done by a team of people.” – Steve Jobs
For an entrepreneur it is the success of business, which pays off for his time, effort, money & commitment over the period. But what is it really like working with such entrepreneur (or let us say Start-ups)? Working with a start-up is certainly going to give you sleepless nights. So, is it worth it? Let us see what a start-up can give us (as employees).
1. Abundance of work – I have met several start-up owners and one thing in common is that they like people who can multitask and adapt to situations. Startup Employees need to be adaptable, quick thinkers who can come back with quick turnaround solutions to the problems. Startups are still like building blocks to the organisation & its process are yet not completely in place like MNC’s. employees get to experiment and get hands on with the problems and have real life challenges put across to them.
2. Work with the BOSS directly – Most or many of the start-ups have CEOs who are the founders of the company & to associate oneself with one such start-up means working with them directly. The benefit of this simply is not measurable to any other perk. This experience can make one visionary & more prone to finding solutions. The leadership, decision making & appreciation are all at arm’s length & transparent (at least in most cases). One is likely to be more productive when sharing the same vision as founders of the firm. Your contribution does not go unnoticed.
3. Opportunity to handle exceptional responsibilities – Working with an early stage start-up will imply wearing multiple hats at the same time, which in turn also makes it a lucrative opportunity to learn & grow in the domain. Founders/CEOs are likely to promote internal employees to higher designation (considering the company grows). One should always be up for new challenges & adapt to technological advancements. Simultaneously one should be adept with strategies to enter new geography, marketing & advertisement plans.
4. Flexibility with Work life – As mentioned above that working in a start-up may give you sleepless night, yet it would certainly give you enough time to socialise, plan your work & spend time wisely by allowing you flexibility to finish the task & not limit the work only between 9-6. Many companies around the world offer Flexi timing, Flexi workspace to motivate/encourage employees to work at convenience. It is considered one of the best perks working with a start-up.
5. Handsome Pay & ESOP – One of the factors of choosing a job is because of the PAY. Afterall the efforts, sleepless nights, wearing multiple hats, if you are not paid enough, you are simply at a wrong place. Start-ups & their leaders make sure their people are happy and to make sure the employees shares the responsibility and has the same vision , mission and goals are aligned and the Employee is a Key asset to the startup , sometimes they even go to an extent of sharing the ESOP( Employee stock options), which makes you a partner in the company, which is a rare possibility in MNC. This is cool, isn’t it? It is just not the end. Employers even offer perks like, Laundry Allowance, GYM at Office and Free Parking.
6. The Awesome Culture – The coolest thing about working with a start-up is its culture. With my experience of interacting with leaders in Start-ups who are passionate about an inclusive work culture. They want to make it really cool for employees to feel at home and organise Friday party, fun-time activity, trekking trips, regular appreciation, and recognition are part of a start-up culture. Some start-ups do not have a dress code (especially for IT folks), which means you can literally wear your shorts and a t shirt to the office.
7. Working towards a common goal – When you start working with the founding team, the company’s mission and vision are not just his/hers, it would eventually become yours too. The pleasure of working towards a common goal and achieving it is always better then working for a monthly pay-out. When working towards a common goal and being part of something bigger makes one more included which drive exceptional productivity and ensures success, sooner than later.
There are so many more pros and cons about working in a start-up which would be challenging to accommodate all here together. Whereas, after reading the above if you feel you should be part of a bigger cause, you have the decision in your own hands.
Please reach us out at Multi Recruit, we specialise working with start-ups and shall be glad to bridge between your next employer and yourself.