Summary: Startup businesses are exciting but is the risk really worth the reward? Below are some pros and cons of working in a startup.
Startups are fast-paced and risky. Some may love this while others would prefer something more stable and predictable. If you are considering working in a startup, read below to get a better understanding of what it’s actually like working for one.
High Risk, High Reward
When working with a startup, in any capacity, it is important to understand that nothing is guaranteed. Most startups are notorious for having uncertain futures because of their general lack of funding, stable revenue streams, customer bases, and polished products. All of these variables can make it difficult to justify working in a startup, especially if your primary goal is to make a fortune of money. Statistically speaking, not every startup will be as unique, profitable, and game-changing as Uber has been, but every now and then angel and VC investors will find a concept and a team that have potential to make it through the ups and downs.
If you are not an investor or an individual who is closely related to the startup founders, it can be tough to get your foot in the door. If you are able to get involved early on in the development of the business, there is a chance you can make a decent profit as the company grows. Even if it does not get far, as most startups usually do not, understand that the risk comes with the territory.
One aspect of startups that many who have been involved with at least one enjoy is the degree of autonomy they have. When working in a small team that can very well be smaller than 10 people, there is a good chance that each individual will wear many hats and have many responsibilities. As a result, each person has a lot of say in how the business is run and his or her actions have a greater impact on the future of the business than the average employee in a large corporation would usually have. To some, this power is a characteristic that is more important than job stability or salary. On the other hand, some people may not want as much responsibility.
Good Learning Experience
Even if the startup you are working for does not make much of a profit, there is no denying that you will learn a lot throughout the process. Due to the very hands-on nature of the small startup, each person involved will learn a lot very quickly. Startup workers will learn a great deal about how to run a business just through the experience and exposure to the environment. Not every business will become huge but each setback will be a learning experience that will make you wiser.