Electing to work for a startup is a big decision, given that the failure rate of venture-backed startups is on average between 60 to 79 percent, according to investment firm Cambridge Associates.
So, why should you consider working for a company that you know has a more than 50-percent chance of failure? Here are four major reasons you might want to work for a startup.
1. Opportunity to take on new responsibilities
Working for an established company with a long history means that in most cases, your job will be predictable and you will do similar things for an extended period of time. In contrast, working at a startup requires agility, as you will need to continually adapt and change what you are doing based on customer feedback.
As a result of this constant change, startup employees have lots of responsibilities outside their job descriptions. New scenarios will arise that will require the most suitable person to step up to do the job. By taking on new responsibilities, you can gain valuable skills that could help you land a promotion or another job down the line.
2. Collaborative environment
At a startup, the internal structure is usually flexible, meaning you can to talk with all team members and contribute to discussions whenever you have an idea. At a larger company, the bureaucratic structure can make it very difficult to get your ideas across to the CEO.
Given this flat structure, most decisions at startups are made by the group as a whole, incorporating viewpoints from different team members. For example, if you work in marketing, you might request feedback from developers and designers at your firm in order to understand their views of your product and determine whether they align with users’ expectations.
3. Ability to innovate
Whereas larger corporations may have strict processes in place that you have to follow, startups often have more room for innovation. If you come up with a promising idea, you can typically communicate it to management with ease, given the flat structure of the organization. And if a higher-up decides your idea is worth implementing, the implementation process will probably occur much more quickly than it would at a big corporation.
“Working for a startup is a great experience since it focuses a lot on the product and the core team in the beginning, thus giving you the opportunity to have your ideas and your voice taken into consideration. The benefit of working in a startup is that it cuts all the corners and redundant processes that are normally found in big companies. It can be an inspiring environment where you have the courage and experience to start something on your own as well.”
4. Job satisfaction
Finally, at a startup you are often just a step away from the customers, so you can see first-hand how your team is creating value for them. You can contribute to the startup’s significant milestones, such as the first 10.000 followers on social media and the first 100.000 unique users.
You can actually observe how your career, expectations, and responsibilities increase after each achieved milestone. It feels like being part of a family, of something special that is having a real impact.
In order to land a job at a startup, be sure to update your resume and tailor it to the company.
Andrei Kurtuy is the CMO and one of three co-founders of Novorésumé. An idealist and optimist, he believes we should always strive for improvement and efficiency. In his free time, he loves running, reading, and wandering around cities to discover new places.
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