A few years back this topic was not relevant. Now a days, this is one of the most talked topic among college graduates and experienced professionals. If you have two job offers in your hand, one from an MNC and another from a start-up about kick-off their business. You must be in dilemma.
You wanted to join an MNC which has its own set of benefits but you have seen the start-up’s product, believe their idea and liked the approach. At one side an MNC offers lucrative pay with awesome benefits. Another side an idea, a product, a concept started with the belief “WE CAN” which you think has all the potential to get recognition in the society and win customers in future. The choice is easy for 9 out of 10 – An MNC, which can give you stability and job security at the initial stage of your life.
Is it? Do you think so? Read these points and dive into the start-up ocean.
It is more effective to do something valuable than to hope a logo or name will say it for you
Jason Cohen , Start-up Founder
Responsibility & Accountability
Joining a Start-up means you are part of a small team. You are the part of founding team because there is probably nobody else in the company who possess the same skill sets as you, approaches problem the way you do, or even thinks the way you think. You will be entitled to a lot of responsibilities. You are accountable for certain tasks. You cannot limit yourself to any single domain or a task. You have to be a generalist and specialist than being only specialist. Flexibility, learning ability and adaptability are key for any start-ups.
No doubt, this is a place where you can make huge impact. If you do awesome work, the entire team will shout out for you. You may not get incentives for this but defiantly can expect a note of appreciation from the founders. On the other hand, if you make any mistake, the entire team has to suffer for that. But this is where start-ups are different from MNCs. Agility and cautiousness are inside their veins. Learning from mistakes is not advisable in the start-ups. You must learn from others mistake and if mistakes happens teach other to not repeat. Most likely your mistake won’t actually get you out from the company, as long as you were trying to add some value to the company.
At an MNC, you need years to become a leader. Not in the case of a start-up. If you are good enough to solve complex business problems and can inspire people with your innovation, you can move much faster in your career. In a start-up, it doesn’t really matter how many years of experience you have or how many clients you have managed. What matters is how much value you are adding to the company, the product and your team.
When you work for a big corporate, chances are high that you will manage a tiny part of a big project. In a start-up, you will manage a major part of a project or even sometimes the entire project all by yourself. The difference is, in a start-up your hard work won’t go unnoticed. You have a small team to work with, chances are everyone will recognize your commitment and will instantly shoot a message on Slack or an Email to the entire team appreciating you on achieving a goal. The value you add in a start-up to build the company can never go unnoticed. This positive motivation can do wonders for an individual. The recognition you receive for going an extra mile lifts your spirit and motivates you to perform excellently in your next assignment.
Knowledge and Innovation
Entrepreneurs always have a different approach and professional makeup. The reaction towards a problem, brainstorming and creating an innovative solution makes them different from others. Because of innovative nature, start-ups are the best place to learn. Attitude and detailed research are two of the keynotes. Innovation is more than just creativity. It is pushing your limits every day and solve problems in a new enlightening way. Every start-up has innovators. It is up to you to find the right one to learn from.
Our Industry doesn’t respect tradition, it only respects Innovation
Satya Nadella, CEO – Microsoft
If you want to Innovate something which can impact millions, if you want to inspire people and see yourself changing the society at some point in your life, start-up is the best place for you. No big corporate can match that thrill of innovation. You can also get an opportunity to understand how the ship is made because when you make your own ship you won’t repeat the mistakes.
Transparency is the key in a start-up. People working in big corporates doesn’t even have the knowledge about their own project. In a start-up you get to know why and how much the founder decided to raise fund, what is the reason behind hiring a VP – Marketing, why your company has opened a new office in other city. Always, there will be some information for you. Yes, few information like investor details, individual salary and equity, board meetings details etc. are always not to be shared though. But in general, all other decisions related to business and company are very transparent. You can witness how the company grows, how the company is making strategies, how you are promoting your business etc.
This can make an individual feel important for the company and most importantly there won’t be any corporate politics. Transparency fosters an environment full of team spirit and a bond with every person from the founders to the interns.
Long Run Growth
You might not get a very lucrative package from a start-up who is still fixing the product and looking for investments. But it can’t be a deciding factor for your future. Many start-ups offer equity and ESOPs to their first few high level employees. These options rapidly can increase its value as the company grows and receives more funding. Chances are, you start with a salary that is below average but end up making four times as much as your peers in next 2 years. Start-ups grow quickly, they get a huge round of funding and few high end clients, at the same time you performed exceptionally great. Think long term.
A company is mostly an extension of the founder’s personality and ethics. But in the early stages, you can contribute to make company culture. You can define companywide goals and policies which will reflect on your own future. At the start, it is only about few people, if you can create a flexible and collaborative culture, you can see your own ethics in the company environment.
25-30 years old founders, what do they do with money, ideas, and innovations? They will try to create the most flexible work place.
Start-ups can empower you with hands-on responsibilities and experiences. You can develop multiple skills, enhance your knowledge and transform yourself as a leader very quickly. That’s something difficult to come by a big corporate or an MNC. Never underestimate the power of working for a start-up organization.
Hope you liked this blog. You can type your feedback and can share your start-up experiences in the comment box below.