Should you join a startup? Following my recent video on the top five pros to working at a startup, in this video, we're going to go over the top five cons to working at a startup.
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0:00 - Introduction to Top 5 Cons to Working at a Startup
0:37 - Con #1: Be prepared for this
For me, this isn't a huge deal because I'm a pretty independent person. And I like to learn things myself, but this might be important to you if you're the sort of employee that likes to have a mentor or a coach figure in your workplace.
If you really appreciate having constant coaching or mentoring on a weekly basis with somebody at work, then you might want to look for a startup that either has the resource to support you there or for a larger organization.
2:46 - Con #2: Consider this before joining a startup
This is a misconception with startups in which people generally tend to bucket large tech companies like Facebook or Google with the idea of a startup, but they're technically not really startups these days.
If you're trying to optimize for your earnings, you're better off working for one of those companies. Because you can actually follow their levels approach in which you will get more predictable comp increases as well as the public stock of those companies through RSUs.
3:44 - Con #3: Expect this when it comes to joining a startup
I think this comes from the fact that when you're working in a smaller organization, you will generally be working more closely with every single person in your company.
People tend to let their guards down in terms of their true personalities. And as a result of that, you get both the good and the bad to that.
So just remember that when you tend to gravitate towards a smaller team, having one bad apple in the bunch is actually a bigger impact on you than if you were part of a larger team in which you only had one bad apple as well.
5:10 - Con #4: Be ready for this
If you're the sort of person that likes to go through life, knowing exactly what checkboxes need to be checked off in order for you to level up to the next stage, then startups might not be for you.
Overall, I found that careers and startups, especially early stage startups will tend to be windy in terms of their pathways. What I mean by this is it'll largely come down to what the opportunities are at the organization, what your skills are and whether or not your boss is willing to give you that opportunity when the time comes.
6:21 - Con #5: One of the most toxic startup cultures traits in my opinion
The notion is essentially that because startups are more collegial and friendly environments that we can treat each other like we are family.
I think that this notion is flawed. And the reason why is because it allows people to start to treat other people in a different way than how they would actually treat others in a professional environment.
Personally, I'm more in favor of a clear split between your work and your life. I think that work-life integration is really important, but I've seen malintent in terms of how this we're like a family mentality has been used in startups in the past.
7:39 - Two Big Takeaways to Remember:
1. Be prepared to accept the trade-offs of working in a startup.
2. Be aware of the cool way
✍️ COMMENT BELOW:
What is something that you think is a drawback to work at a startup or that you felt in the past?
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Disclaimer: Grow with Will does not provide tax, legal, or accounting advice. This video, and the ideas presented in it, are for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.
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