It’s A Match! Finding A Startup That’s Right For You
Oct 25, 2017
Startups are like snowflakes. No two are the same. But with so many out there and each one promising an array of different work opportunities, sometimes it’s tough to know which startup is right for you. But there’s no need to get caught in a startup snowstorm. This is our essential guide to finding your perfect fit.
Talk is cheap
When seeking work in a startup, it’s all too easy to get lost in jargon. Don’t know your bootstrapping from your burn rate? Well there’s no need to worry. Any startup worth its salt will have a clear mission statement that lays out its objectives quickly and easily. Take a look at horticultural hotshots Bloom and Wild.
‘Flower delivery, through the letterbox’
It’s simple, it’s effective, it’s memorable. If the startups you’re investigating are clear on their mission statement, the likelihood is they’ll have a stronger practical plan for how to grow and develop. Does their vision fit with yours? How would you help them fulfil it?
How big, how soon?
Every startup will have its own idea of how long it will take them to reach global stature but there are a few key stages of development that pretty much all will fall into. So whether they’re developing management software or recipe boxes, it’s important to establish where they are in their business journey. Are they…
Pre-seed? This means they’re in the early days of development. They may have identified a problem in their market and are framing how their idea can provide a unique solution. At this stage, financial rewards may be low but the capacity for creative and technical input is huge.
Seed stage? After some initial investment, the startup is beginning to execute their idea. Growth may be slow at first but this stage is ideal for those looking to work in building customer bases and client communities.
Early stage? Sometimes called the post-seed stage, by now the company is entering execution and growth mode. At this point, it’s all about product improvement and effective PR.
Evaluate your skillset and career ambitions. At what stage do you think you could thrive?
Money money money
They say money can’t buy you love. But it’s also true that love can’t buy you money. So even if your start up is making your heart race, without a helping hand, it’s unlikely to get off the ground. That’s why it’s important to understand the levels of investment your startup is securing. Here are a few things to look out for.
Are they crowd sourced? IndieGoGo has revolutionised the way small startups can earn investment. But while crowdfunding appeals to a young demographic, there are repercussions for not reaching the required targets.
Have they secured seed investment? As mentioned earlier, seed investment helps kick start a startup. Often provided by a friend or relative, it may not be a lot but it’s enough to put an idea into practice.
Angel investors. Unlike seed investors, angels are more likely to get their hands dirty. Perhaps they’ve run a successful startup themselves and are looking to support the next generation of entrepreneurs. They can take a large chunk of the company’s shares but they usually bring strong business acumen and an array of useful contacts.
Venture capitalists. VCs can provide the big bucks to help a startup broaden its ambitions. But while the level of funding on offer may seem appealing, VCs may be less willing to take a risk and demand a greater deal of control.
Crucially, the level of investment will have a direct effect on your startup’s wage policy. If you’re able to work for peanuts then the rewards may eventually be great but if you’re looking for something a little more stable then seek out a startup with strong financial backing.
Love at first sight
Sadly some startups can favour style over substance. Ping pong tables and boozy brunches may set pulses racing but take time to investigate the brains behind the beauty. By evaluating the ideology, development and funding of your startup you can avoid career heartbreak and finally find the one.
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