Questions to ask before joining start up
Here is what you should do as an employee before joining a startup, and even while working for one:
Ask questions. Discreetly. Go to the CEO and ask him how the company finances are. If he acts defensive or evasive, this is a red flag. Talk to the founders. See if they're cohesive and saying the same thing.
You are one of those super-high paid engineers, hold off on buying the fancy car that will stretch your finances. Don't assume your next pay-check will be as big as your last. Be prepared to simplify your life. I bet you were not wallowing in luxury 3 years ago and your life was not miserable back then. You will re-adjust if needed.
Don't overcompensate and go to the other extreme. Just because your last startup is out of money, it doesn't mean all startups are dead and you should be punching your time card at a large services or MNCs for the rest of your life.
If you enjoy freedom, creativity and a lot of ownership, you ARE startup material. Just look around, there are some great startups run by seasoned entrepreneurs, with tons of cash who are looking for talent.
While your family is critical and you need their full support, don't take advice from them. This is a brand new world and no matter how well meaning and smart they are, they will not be able to relate to you and give you the right guidance.
Do find a good mentor. Preferably one of them from the startup world, who can give you balanced advice.
And here are the three key questions you should ask the founders:
What is the vision for this company? Where, if things go well, do you expect the company to be in 1 year? 2 years? 5 years?
What is the financial state of the company? How much money do we make (or will make)? How much "runway" do we have?
What will I be doing now and what can I grow into in this time frame? Is that exciting?
You should not expect perfect answers to these questions, there are none. Instead, make sure you get authentic answers. At the end of the day, it is all about trust. In both successful and failed startups, the worst emotion I've seen in very hard-working people is the sense of betrayal and you really want to avoid that.
If you enjoyed the boom, good for you! But be prepared to ride out the bust. This too shall pass. Smartphones, Cloud and Social Media are all game-changers and the new world order will have some great companies who will create serious wealth for investors, employees, and entrepreneurs!
the above is authored by Bala Parthasarthy, an enrepreneur and angel investor. more
Ask questions. Discreetly. Go to the CEO and ask him how the company finances are. If he acts defensive or evasive, this is a red flag. Talk to the founders. See if they're cohesive and saying the same thing.
You are one of those super-high paid engineers, hold off on buying the fancy car that will stretch your finances. Don't assume your next pay-check will be as big as your last. Be prepared to simplify your life. I bet you were not wallowing in luxury 3 years ago and your life was not miserable back then. You will re-adjust if needed.
Don't overcompensate and go to the other extreme. Just because your last startup is out of money, it doesn't mean all startups are dead and you should be punching your time card at a large services or MNCs for the rest of your life.
If you enjoy freedom, creativity and a lot of ownership, you ARE startup material. Just look around, there are some great startups run by seasoned entrepreneurs, with tons of cash who are looking for talent.
While your family is critical and you need their full support, don't take advice from them. This is a brand new world and no matter how well meaning and smart they are, they will not be able to relate to you and give you the right guidance.
Do find a good mentor. Preferably one of them from the startup world, who can give you balanced advice.
And here are the three key questions you should ask the founders:
What is the vision for this company? Where, if things go well, do you expect the company to be in 1 year? 2 years? 5 years?
What is the financial state of the company? How much money do we make (or will make)? How much "runway" do we have?
What will I be doing now and what can I grow into in this time frame? Is that exciting?
You should not expect perfect answers to these questions, there are none. Instead, make sure you get authentic answers. At the end of the day, it is all about trust. In both successful and failed startups, the worst emotion I've seen in very hard-working people is the sense of betrayal and you really want to avoid that.
If you enjoyed the boom, good for you! But be prepared to ride out the bust. This too shall pass. Smartphones, Cloud and Social Media are all game-changers and the new world order will have some great companies who will create serious wealth for investors, employees, and entrepreneurs!
the above is authored by Bala Parthasarthy, an enrepreneur and angel investor. more
Viewed by 2444
View all 10 comments Below 10 comments
Areake DM SP CP CMO POLICE STATION KE Name MObile no MP MLA MLC ke No .Janta contact kar sake .BOard lage . more
Apr 21
I guess, the first question -- why do you want to join the startup. If the problem is big enough and you are passionate enough...then join; otherwise stick to your traditional corporate or government job! more
Apr 21
Shri Alokekumar Das, these many people take a regular job after retirement. I worked for central Govt. for 11 years, for a PSU for 25 years and 10 years in private sector after retirement. All employees retire at the peak of their career. However, the post retirement job, if at all available, shall be at a restarting a new career. So the question you need to ponder are: 1 Are you prepared to accept a start up level? 2 Are you willing to accept a job at 30% to 40% of the salary you were receiving? 3 Are you prepared to relocate or you are looking for a job in Calcutta only? 4 What is your field of expertise? Is there demand in the market for such expertise.? 5 You may look for job in private sector firms which are working for Metro Rails, in Calcutta or other cities. more
Apr 20
Its good to ask questions with a view to secure once future, smooth running of the organisation and its bright future n keep expenses under check at the same time one should be least apprehensive n dedicated . more
Apr 19
Transfer of legal heirs ship, Preparation & Registration of Will Succession Certificate Letter of Adminstration. Guidance & Assistance for legal matters. Stamp Duty Registration. For details kindly contact Pratap 9820619386 / 9819389386. more
Apr 19
