How to Choose the Right Startup to Work For?
Startups are small enterprises founded to develop a new product or service, bring it to market, and attract clients. A startup, which is based on innovation, strives to improve existing products or create new categories of goods and services, challenging established business models and disrupting entire sectors. As a result, many start-ups are dubbed “disruptors” in their respective industries.
India has overtaken USA and China to be the world’s third-largest startup ecosystem. In 2021, a total of 44 Indian firms earned unicorn status, bringing the total number of unicorn startups in India to 83, with the majority of them in the services sector. Indian entrepreneurs closed 65 agreements of $1 billion in January 2021, and the number has been steadily increasing since then.
If you are interested in joining a startup, you’ll find plenty of options. However, it can be an intimidating task to choose the right startup to work for. This is what we are here to help you with. Here we’ll talk about the various things you must consider while choosing the right startup to work for.
Things to check before joining
Here are a few things that you should consider before joining a startup –
- Company expectations: Working with fewer resources available during its early stages, a company tries to make the most of what it has, which typically entails a diverse range of duties. As a result, knowing your job description and key result areas is critical when joining an early-stage company. Job names, desk assignments, and project plans are regularly altered. Those who dislike ambiguity should avoid starting a business.
- Founder’s credibility: Perform a background investigation on the founders before considering joining a startup. Pay close attention to their industry knowledge, academic background, network, abilities and experience, and any accolades they’ve received, among other things. You should look into how much the startup’s founders have put into it.
- Funding background: Money is one of the most crucial factors to consider before starting a startup. What is the source of the funds? The startup is either venture-backed and has millions in its bank account, or it is self-funded. It’s crucial to find out who is behind the startup and whether the company can give financial security even through a rough patch. A startup with a solid, dependable collection of investors has a considerably better chance of succeeding than one without.
- Product success potential (future scope): Get a sense of the startup’s product or service’s market. Look to see if the market is packed. Is the business in direct competition with other businesses already on the market? Ask questions and seek their answers like what problem is the business aiming to solve? The company will not be able to operate for long without clients or marketplaces for what you’re starting up.
Questions to ask the founders
During the interview process, you can ask the following questions to understand the startup better –
What does success in this role entail, and how will it be measured?
Asking this question can help you better understand your role and duties, keeping in mind that you were hired to solve a business problem or create a new segment inside the company.
What are the values & mission of the company?
Mission statements can help you determine how you view your future at a company. Identifying the aim of your work will help you better grasp the objectives that your firm should strive for.
What is the current rate of expansion?
Consider what the future of your industry will look like in a few years and whether the startup you’re considering joining is a viable effort.
What are the team’s organizational structures?
For a startup to succeed, the correct team structure is critical. In a startup, it’s critical to delegate critical roles correctly.
What is the present runway, and what are your funding intentions for the future?
Working with a firm with a few years of cash under its belt vs a startup nearing the end of its funding and wanting to raise more money will require you to recognize the varying levels of risk.
Tips for jobseekers
Here are a few helpful tips that you should remember if you are seeking a job at any startup –
- Be proactive and look for different businesses. Take the initiative and initiate dialogue. Seek assistance from your contacts.
- Do your homework. Learn everything you can about the start-up, its industry, and its future ambitions.
- Define your passion. Indicate which areas you’d like to help with and what you’ll bring to the table.
- Great founders and teams will create fantastic products. As a result, the quality of a product serves as a proxy for talent in any startup. You should test it if it’s a consumer-oriented startup. Inquire of old coworkers and contacts to see whether the service/product might help them address challenges at work.
- Conduct research into the company’s valuation history.
- Rather than an employee, consider yourself an investor. Essentially, it means prioritizing aspects critical to the company’s success, such as market expansion potential, over less crucial factors, such as office design or employee benefits.
- Examine your competitive advantages.
- What are this company’s competitive advantages, and are these advantages expected to increase or lessen in the future?
All of the above things are critical before you join a company in the hopes of making more money and obtaining a prominent title. However, keep in mind that no amount of due diligence on your side will ensure a startup’s success. All you’ll get out of it is a diverse range of expertise and fresh industry contacts, which will help you find new jobs.
Why choose Dresma
If you are a job seeker looking for a fast-paced career in a high-growth startup then Dresma could be the right fit for you. We are a SaaS-based startup helping online sellers improve their product-photography workflows. Through our AI-powered image creation tools, eCommerce sellers can cut down their time and cost considerably.
Our tool, called DoMyShoot, is the perfect balance between an enhanced quality product image and doing the job of a skilled professional photographer while cutting the client costs of hiring an individual. DoMyShoot allows users to click high-resolution pictures for product catalogs and simplify photography.
Dresma, today, is standing at the intersection of technology, SaaS, and eCommerce. We have a clear vision, mission, and passion. We aim to democratize product photography for online sellers around the globe.
So, if you are someone looking for an exciting career then Dresma could be the place for you. We are looking for talented people to join us in our growth journey.
To know more about the available opportunities, click the button below.