Pros and Cons of Working at a Startup
In today’s scenario, there are many people who love to take risks and have high aspirations for themselves. Startup companies are what most of them choose to feel the thrill and excitement of entrepreneurship. It isn’t necessary that a startup will always be successful. Many new companies fail to accomplish the statures which other companies started as startups may have. However, working in a startup can offer various benefits as well to your career. So one should think carefully and assess all pros and cons before joining any startup. In this article, we’re going to discuss various significant pros and cons of working at a startup.
What is a Startup?
A new business started by any company is known as a startup. The company can have single or multiple owners who work on the launch or promotion of a single product. The primary goal of any startup company is to introduce something new in the market and earn revenue from it. Typically for any start-up to work properly, there is a requirement of funds that the owners can provide mutually or get funding from somewhere else. Some of the most successful startups all across the world include Uber, Airbnb, WhatsApp, etc.
So now let’s take a look at the pros and cons of working in a startup company:
Pros of Working at a Startup Company:
Working in startups might scare you but people who are new in the corporate world or new graduates, get several opportunities. As in a new company, one can learn various things such as:
- High Level of Responsibility
- Day-to-Day Challenges
- Learning Opportunities
- Steep Learning Curve
- Work Place Benefits
- Less Supervision
1. High Level of Responsibility
The majority of the fortunes of a startup would lie on the shoulder of a technical geek. Since you are chosen from many candidates, likewise with relatively less helpful staff, it is you who have the additional duty to control a startup and make it a real success.
2. Day-to-Day Challenges
If you are a person who’d love to acknowledge diverse difficulties, then the job is perfect for you. Startups are likely to confront numerous monstrosities at the beginning which would be specifically diverted to you as a lead. This consequently would enable you to fabricate yourself and make you solid enough to confront the vast majority of the genuine issues which were being looked at by the organization.
3. Learning Opportunities
When a person starts working in a start-up he/she is given numerous new responsibilities, which eventually increase the learning opportunities. A start-up company does not hire many people at once thus a single person has to play several roles which allows them to learn various things from one department or different. However, sometimes it can create confusion but the benefit is you can end up learning many things and decide your path accordingly.
4. Steep Learning Curve
You CAN commit errors in a startup which would be exceptionally useful for your own particular growth. You will be effortlessly ready to understand your oversights and work upon them quicker and faster, which would effectively influence you to stand aside with the additional skills you learned as opposed to your associates working in great/presumed companies. Additionally, the unstructured condition of a startup will enable you to take in more than the structured condition of a “Tech Giant”.
5. Work Place Benefits
In order to lure candidates, start-ups provide them with several benefits such as free food, a casual working environment, flexible working hours, travel allowances, work-from-home opportunities, Unlimited paid time off (PTO), shorter work weeks, etc. When an employee gets to see these benefits they stick with the company for a longer period of time.
6. Less Supervision
Another pro of working in a start-up is that you are given a chance of experimenting and given less supervision by your superiors. As this creates confidence among the employees and strict supervision can hamper that. Employees are also given the liberty to take their own decisions within their roles in the offices which provides them with the opportunity to contribute to the growth of the company along with contributing to their own success.
You start to deal with things better. You begin to make sound decisions since you’re permitted to settle on some awful choices before everything else. Furthermore, in conclusion, you will soon achieve a situation in which you can lead an entire group in the future.
Also Read: Why New Developers Should Work in a Startup?
Cons of Working at a Startup Company:
- Job Security
- Long Working Hours
- No Structure
You are the person responsible for whatever is doled out and expected of you, which straight away places you in much more weight of dealing with some troublesome circumstances which you probably might not have to face in structured companies. So there is an additional risk in whatever you do, you should be sure of.
The one thing which many think of. A startup, well in most cases, is not financially backed, so one ought not to hope to get BIG salaries. You may not be paid as much as those working in tech giants. In the case money is more critical, perhaps you have to glance through choices in the market other than the new companies. However, you need to know that nowadays even startups are trying to offer ravishing salary packages to hire great talent.
3. Job Security
Not all startups fly high, so one should be always clear that it’s not necessary that you might get to work in the same company for 5-10 years. Any fatal mistake, you are fired since you were the one who solely looked after that task, which definitely puts you in a danger zone. In case, the startup flourishes, then it might be one of your best decisions of joining the startup, also till then, you might be the leader of that company at such an early point of your career.
4. No Structure
When a company is new the leaders or managers tend to mix up with the employees thus not creating a proper hierarchy of power among the employees. In an established organization, people know their boss or the levels through which they have to go through. But these things lack in a start-up and sometimes make people unsure about their role hence creating confusion and uncertainty about their job role.
5. Long Working Hours
Another con of working in a start-up is that you need to work for long or indefinite hours mostly without any fixed holiday or vacation. There you cannot get a typical 9-5 working schedule and often stretch till late at night. As these companies want to achieve a lot they do not keep a check on employees’ personal life which can cause trouble in the future.
New opportunities bring new responsibilities and with that comes much workload. In new companies, there is often one person doing several tasks which can create an excessive load on one person. Stress and burnout are common among people working in a start-up as they have to work for longer hours beyond their skill set.
In case you’re not willing to go out on a limb or take risks, don’t join a startup. However, in the case that you feel that you have an aspiration to begin something all alone one day and you require preparing the ground to do only that, you can devote your initial years to a startup which will enable you to fabricate your establishment and offer you openings that will provoke you and improve you to be an expert.
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