What Questions Should You Ask Before Joining a Startup?
Starting a job with a startup can be an exciting and unique experience. But you don’t want to commit to a job with a new company before understanding all of the risks and opportunities that come with it. Before taking a job at a startup, here are some essential questions you should ask.
- What is the Role?
Before joining a startup, it’s important to understand what your role will be. Does it include any long-term goals or tasks? Are you expected to work in a capacity that will help the company grow? And how does this position fit into the overall structure of the organization?
- What Type of Culture Are You Looking To Establish?
Culture is important in any workplace, but particularly so in a startup. It’s critical to understand how the company is looking to develop its culture and how employees are expected to participate and contribute to it. Are there certain values or behaviors that employees are encouraged to follow? What type of environment and incentives are in place to ensure employees are participating in and protecting the culture?
- What is the Company’s Financial Status?
It’s important to understand the financial status of the company before taking a job. How is the company funded? How much revenue has it generated? Does it have any external investors? Does cash flow match up with projected expenses? If a startup is not in a financially stable position, it could put your job security in a vulnerable position.
- How are Roles and Responsibilities Defined?
It’s helpful to get a general understanding of how roles and responsibilities are defined within the company. Who reports to who? Are tasks assigned or is there an open definition? Are decision-making processes defined? A lack of defined roles can be a challenge and lead to confusion.
- What Benefits is the Company Providing?
Startups often provide enticing benefits that can be attractive to job seekers. It’s important to understand what benefits are being offered and how these benefits are allocated. Are there any stock-sharing plans in place? Is healthcare coverage available? What is the vacation policy?
- How is Success Measured?
This question helps you to understand what metrics the company is looking at to measure success. Are there key performance indicators that the company is measuring? Do they track metrics like customer satisfaction or employee engagement? Understanding what success looks like to the company is important to ensure that you are on the same page.
- What is the Growth Plan?
Growth is important to any business, and a startup is no exception. What kind of growth strategies is the company looking to pursue? Are there different phases or milestones the company is hoping to reach? Understanding the company’s growth plan can help you understand how your role could expand or change in the future.
- What is the Exit Strategy?
It’s important to know how the startup is planning on exiting the market or transitioning ownership. Is the company looking to be acquired or is it looking to go public? Understanding the exit strategy of the company can help you gauge the company’s long-term viability and timelines.
Starting a job with a startup can be an exciting and rewarding experience, but it’s important to understand the risks and opportunities that come with it. Before joining a startup, it’s essential to ask questions about the role, culture, financial status, roles and responsibilities, benefits, success metrics, growth plan, and exit strategy. Knowing the answers to each of these questions can help you make an informed decision about whether a startup is the right fit for you.
