3 Questions to ask before joining a startup company
Whether the CEO is your best friend or a total stranger, you must be strategic regarding startups. So before joining, you must think about some key details.
Here are some questions you need to consider before supporting a startup company.
1. Can you afford it?
When joining a startup, you will not get paid regularly. Instead, because of how much money it takes to start a business, you should prepare for a three to six-month period where you are not paid.
2. What can you learn?
When taking financial risks like that, you need to ensure that it pays off in experience. Generally, in a startup, you will focus on much more than one task. That means you will have to step into many different roles, giving you more learning opportunities.
3. Who is founding the company?
You need to know the founders’ backgrounds. See if it is their first startup. See if they have experience in the industry. Think about how they plan to innovate. Get an idea for their company vision. This information will help you figure out how they will run their company. For example, if they have no startup experience, consider whether their plan seems sound enough to ensure the company’s survival during uncertainty.
Everyone has their unique non-negotiables list, so there are no right or wrong answers to these questions. Perhaps you are okay with no pay if it means you get to learn a lot. However, no matter your non-negotiables, ensure you understand them when figuring out these answers, so you know when it is time to walk away from a startup.