What is start-up?
Whether you study business, computing, fashion or any other subject you are probably familiar with the term start-up. At some point in your life you will face a choice, what type of company you would like to work for. It could be a start-up, SME, a large corporation, NGO or public sector employer. Whichever path you choose, it is worth to take start-ups into consideration. Although the term ‘start-up’ is used everywhere in the media, there is no concise definition of it. We usually define a start-up as a small sized, innovative, young and growing company. Start-ups are frequently associated with high-tech sectors but it is not always a case. There are some brilliant start-ups specializing in cakes production or innovative fashion designs.
What are the advantages of joining a start-up?
In comparison to large companies, start-ups offer different type of work experience. Unlike in a corporation, start-up employers will expect you to make an impact from day one. Start-ups are developing enterprises with limited amount of employers. Therefore the bureaucratic procedures are limited, and strategic decisions are made through informal conversations and every day interactions. You will have a chance to shine with your own ideas and show initiative at work. If your company goes big, then you will be part of the success story. If you work hard in a start-up company you will get promoted to higher managerial positions very quickly.
What are the disadvantages of working for start-up?
Certainly being exposed to variety of departments will be exciting and will equip you with variety of skills. However due to limited budget and staff shortages you may face work overload, so if there are deadlines approaching you may be required to work until late. Another challenge that some start-ups experience is lack of financial liquidity. It takes time before a company could start generating profit and initial financial back-up from investors is usually required. Investors finance new businesses based on promise of future revenue. If a business fail to deliver profit, then investors will be disappointed and they might withdraw from further funding. In a consequence a start-up may become insolvent and your job will be at risk.
How to get a job at start-up?
Recruitment process is usually far less formal in start-ups than in large companies. Networking is crucial, because owners often prefer to hire someone that they know or at least have met before. If you go to the meetup.com website and search for ‘start up’ you will get many results, for various enterprising groups. It is an excellent opportunity to join some of them, attend their events and network with start-up community business owners. Your professional network will grow and you will significantly increase your chances of getting a job or securing an internship position. There are also some websites specializing in job adverts in start-ups, such as: UK start-up job, Angel list, or Work in Sart-up. Don’t forget to check our careers advice, before applying.