Not all startups are created equal. Not every 22 y/o is Zuck. If you’re considering joining a startup, here’s how to evaluate it before joining.
But first, the benefits of joining a winning startup:
- accelerated career growth
- speed to maturity
- deep learning in an interesting industry that can be parlayed into an industry role
- work with young, hungry likeminded (read: future winners) people
1. The leadership team. Like I said, they’re not all Zuckerbergs. Look to work for a leadership team that has seen success before. Either worked at a successful company or, ideally, started a successful company and this is their second act.
2a. The market. This is a two-part equation. Will the market grow to support a big company or is it super niche? It might start small but ask where is the expansion opportunity. Avoid a 1 product company or a potential feature of another platform. Bad for your personal growth.
2b. The budget. Does your target customer have budget for software? You can hope the founders have this validated but recommend you reach out to your network or better yet sales friends to get some insight.
3. The clients. Who are you selling to? Clients will get mad and upset regardless but best to understand do you like working with these type of people. Selling software to law firms? Ask yourself if you like talking to lawyers.
There are plenty of other factors like bootstrapped vs VC funded, pay, insurance, yada yada but the big three for success are above.
Can you think of other factors?