Are you interested in setting up a start up why or why not
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Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Startups are mushrooming in large numbers in India. Apart from introducing everyone to new innovations and ideas, they are also employing numerous people from diverse domains, especially the youth. Even experienced people, particularly from the consultancy sector, are opting to work in startups. Let us analyze why taking the plunge and entering the startup world can be an exciting proposition: Responsibilities are more but you learn more too Working in a startup means you are an important member of a small team. The unique way in which you approach and solve a problem will be definitely noticed. While you do that, the process of learning will be enhanced too. A startup has less people so everybody's role is important. This leads to being more responsible, reliable, versatile and willing to explore so as to improve. In a big organization, the importance of one team member in a big team might not be that prominent. The empowerment and the authority to take decisions when required in a startup make it easier to work efficiently. Loads of opportunities A startup may not pay as well as a comfy corporate job. However, there are other benefits. Some of these are incentives and attaining new skills while doing various tasks. Gaining that experience will compensate for the pay cut in the long term. In a corporate job, one is stuck in his own task and has fewer chances to branch out into other fields. It is structured but it is monotonous too. Doing different things is definitely exciting. Pioneering mindset of innovative people around It has been observed that people who take the risk to start their own business are high on ideas and welcome any kind of crazy perspective too. This leads to exploring more and ultimately being original. The novel approach of everyone around, especially the founders will help you to see the other side of the coin and approach things in an unusual way. You will be challenged but work will be recognized In a startup, it is hard to ignore a person who is doing a good job because it is very much visible. If the credit is due, it will certainly be yours. If it is team work, the small yet efficient team will be appreciated. However, be careful your mistakes will be noticed too but that will make you get rid of them which means striving for perfection…and that is never a bad thing! Lively work environment Anyone who is a part of a startup will tell you that he can easily chill out with his team or even bosses after work. A startup mostly employs young people who have the zeal and determination to give their best. The excitement of working with people you like will make solving issues easier because you can always walk up to the person and have a one-on-one discussion. Teams in a new organization are close-knit groups and even the founders are actively participating in each task. Money is not flowing like river as founders will be concerned about managing budgets. Nevertheless, the joy and pride of building something from scratch is sure to fill you up with a positive energy which will not only make you feel good about yourself but also will reward you in the long term when the organization is well-established and steadily growing. Why join a startup? Here are 4 points to consider when looking for your next role: At Movemeon, we connect strategic & commercial professionals, including consultants/alumni, with perm & freelance opportunities. Get in touch if you are interested in hiring from our network of professionals. PROFESSIONAL AND PERSONAL GROWTHStart-ups are a great way to meet new people and to expand your network. Many existing companies have an established core of clients and vendors, but start-ups are always seeking new customers, vendors and strategic partners. There is never a dull moment. You will continually meet new people and build great friendships and business contacts that will last you throughout your career, and the likelihood of one of those new business contacts becoming the catalyst that leads you to your next job is high. Looking closer to home, since most start-ups are small, there is the chance to get to know your co-workers very personally and create a bond with everyone on the team. Working at a start-up is like being part of a close-knit family where you are encouraged to be yourself in order to realise your full potential. Positive company culture is at the heart of start-up companies. SENSE OF ACCOMPLISHMENTBeing smaller and more personal leads to attachment, passion and vested interest. The exhilaration of being part of a successful start-up produces pride and a sense of accomplishment that is extraordinary. The entrepreneurial nature of a startup undoubtedly creates a lot of passion which means you will be working with colleagues every day that have the same positive energy and excitement as you do. Everybody is focused on the same goal, to take the company forward and upward, because wherever that company goes, it will take you and your team with it. LOTS OF LEARNINGHowever, perhaps one of the best reasons to join a start-up company is to learn. If you are unfamiliar with the industry, but you like what the founders are doing then don’t hold back. A start-up offers a hands-on, multi-functional experience where you can take on great responsibility from the word go and working in close proximity with the founders. It’s an amazing opportunity to soak up their knowledge and experience. Furthermore, you can expect to get a lot of exposure to the intricacies of the entire business operation from the start. Such involvement is especially useful if you want to start your own company one day. PROGRESSIONLastly, as start-ups grow, you can grow with them. And that can be reflected in your earnings too. Not only might salary increase with the size of the company and your responsibility within it, but you might also become entitled to options too – the value of which can grow as the company succeeds. Remember it’s not long ago that Facebook and Google were ‘start-ups’ too. Read our startup focused interview with fram^ & Smart Buddy |
