Joining a startup? look before you leap…

It was 2003, August, Edward air force base station in California. A bright day with blue sky. And, I jumped off a plane. Right next was my wife. And boy, this has been one of the most memorable experiences of our lives. Wind blowing, the earth zooming in rapidly… It is etched in our memory though we have lost the tapes : ) The next day, with the smile still struck on our faces, we were in airport bidding adios to LA, the memory playing the sky dive in loop. We were in the security check, and a lady front of us in a wheel chair with a leg in cast. The security guard asked her “what happened”, she said “skydiving, two days ago, fell and broke my leg”. Oops. We were jolted into reality. That could have been us!

And this my friends, is how joining an early state startup is. You could have a blast of your life… or you may crash land. It is all a chance. This is not just for employees but for founders too. The reality is, most startups fail.

If you are considering an early stage startup, as an early employee or co-founder, or one of the first 5-10 employees in leadership role, you have to check your landing gears before you fly, or leap in this case. And then come back and read this article. If you are joining a Peer-Mentor company, it is good to browse around this page, read more blogs and check the “cultural fitment”.

A great team, and good timing are two sure shot ingredients for a success. Making is a team is in our hands, and timing is in Gods hands : ) So, at Peer-Mentor, we structure the startups to run long. We make sure* to be sustainable at every scale. So, we can catch the “timing” when it happens. In that sense, for us, a successful startup is one that is still running.

Now, coming to the team, and hence you. Are you cut out for a startup? Should you join? What to expect?

Are you cut out? In early stages, we are high on adventure, and so is the “get your hands dirty”. When we say dirty, it could even be real dirt. Based on the situation, you may have to stoop down and do the due. Clean the coffee cups, mop the floor, transport the furniture – you may have to do whatever moment asks. You may be a lawyer, but you may have to quickly learn how to use that accounting software, fill up the numbers, and explain it to a doctor. You have to be flexible. You may have a well-defined role and responsibility but you will have to learn a lot on the go and do.

You will have to drop your old badges, designations, paraphernalia of corner room, certificates, and knowledge. You will have to see from a fresh perspective.

You will need to differentiate your “innate skills” vis a vis the skill you used in your old job. So, for e.g., if you were a pilot, then your skill could be “flying a plane” but your real innate skill would be “staying calm under pressure”, “taking responsibility for lives”, “being disciplined”, “abstracting and understanding complexity” – pilots know how their machines work, they may not be engineers but they abstract and understand, “communicating with clarity”, “working odd hours”, “staying away from family”; so I hope you get the drift. In a startup, as a pilot, you may not fly, but it is the fitment of your innate skills with the startup needs will be the reason for you to join.

There is chaos all around. Things will fail all around.

Out of the blue, you may find yourself better in marketing and copy righting than the marketing head; even without knowing, you will be suggesting and advising them. You would have discovered a new self.

No one will stop you if you want to take more responsibility as long as you don’t step on their shoe or come in their way. People will be glad to see you do more. If you deliver, they will move aside and make way for your growth.

Do not depend on equity (of course, we are talking about really early stage here). It is a mirage. It may be a pot of gold or dead duck. Do not compromise your salary beyond what you need for a minimum in lieu of stocks and equity.

In early stage, your offer letter may not have a “take home salary” and hence you may not get paid. Like in other jobs, a salary is not a given. Be clear before you join on what your take home is if any. In many startups, you may even be expected to invest.

Do you know whats a bigger regret? Joining a startup for wrong reasons!

You should not be joining because

1. your brother in law has joined a startup and your wife is pressurizing you

2. it is cool to be part of a startup

3. your good friend or spouse has started; cause you may end up losing your friend or spouse and the job.

4. you fell for founder’s bravado. If you think the idea is foolish, no value, no one will pay, or you don’t think it makes sense, the listen to your inner voice. Don’t join.

When should you join?

1. After you understand that it is all a gamble

2. You gel well with the team

3. You connect to their passion and purpose

4. Your innate skills will be useful

5. You are willing to sacrifice 12-18 months of career

6. Your family understand what you are getting into i.e., the high-level risks and the company direction

7. You are doing well in your job, however you are feeling secure, stable, and bored. Your internal growth has stopped. You have a burning itch to be adventurous, you want to explore and expand your capabilities. You are feeling stale in your current job. You are passionate, you wanted to startup on your own since long.

8. You know how long will they last i.e., how much money they have to take care the expenses

9. Your instincts haven’t sniffed any red flags

10. Your common sense says “go for it”.

If you are game, strap on your parachute, and jump off.

If you have any questions, comment below, I will respond.

– Rohith

Peer-Mentor.com