Job Seekers: Choosing the Right Startup for Employment
If you’re like some 40 million unemployed Americans, finding employment is the first priority in your life. Considering the hundreds of startup companies developing and expanding each year, it might be time for you to broaden your job market scope to include this fast rising business sector. Working for a startup has many advantages including possible equity in the company – look how many millionaires work at Google because they started there when the company was just a startup.
When choosing the best startup to seek employment, there are a number of factors you need to consider to ensure a successful and long-lived opportunity. The first factor to scrutinize would come with an investigation of the economic and financial stability of the business. It is important to make sure the startup is financial sound currently and for future growth by researching the history of the company – owners, funding sources, profitability and how these are all utilized within the structure.
Next, it is imperative to research the reputation of the company by delving into the reputation of the business including past, present and future project successes and failures, while also getting an industry perspective from competing businesses.
A third and critical factor is to review the compensation package thoroughly. Many startups offer equity in the business in lieu of either all or a portion of the salary. This may sound great, however it could take years before any real profits are achieved, thus knowing whether this is financially feasible is crucial.
Additionally, it may be necessary to ask about support staff (if any) and who else works for the business and what their role is within the company. Ideally, all of the pieces will mesh together to form a cohesive entity that will offer a pleasant and rewarding employment opportunity. Working for a startup can be very exciting, frustrating, and exhilarating all at once with each day offering a different and new experience for any new hire.