Start-up businesses can offer excellent opportunities, but they can also crash and fail, leaving you without a job. If a start-up is successful, then you could be set to make a real impact on the industry, and if you are lucky, then you could make a huge profit too. If you consider the likes of Facebook and Google, then the potential of the venture is obvious, as both companies create vast numbers of millionaires who were involved in the company from the start.
The endless start-ups that have failed, however, will never find themselves in the history books, and having been employed by a failing company certainly doesn’t look great on your CV. This article considers some of the problems with working for a start-up and how you can try to steer things in the right direction.
One significant problem with working with a start-up company is that there will likely be a limit to how far you can progress within the company. Unless the company quickly explodes into success, there is little chance that you will be able to climb any ranks to a more significant position, for a number of years. This development limitation is something that can potentially damage your progression in life, because you will not be able to develop for a number of years.
To rectify this problem, it is worthwhile talking to your manager about succession planning for the future. If you can ensure that you will be trained and promoted as the business grows and develops, then this will enable you to plan your future and aim for higher things, despite the small size of the company at the outset.
Budget restrictions will be a significant burden when working for a start-up, because many of the things that you know are beneficial will have to be ignored, due to the cost. Budgets for marketing and equipment will necessarily be smaller than is probably required, and this can dramatically stifle your creativity. Such restrictions can actually make your work and your results look far less impressive than they may otherwise be in a larger company.
To manage budget restrictions, it is important to embrace opportunities like PPC marketing. Pay-per-click marketing will allow you to ensure that you are only spending what you need to on advertising and that you are getting the exposure you need within your budget restrictions.
Lack of Experience
In terms of personal development, one of the most amazing things about working for a larger organisation is the exposure to other employees with a range of different experiences and expertise. Working alongside other accomplished people in the same or disparate fields will provide you with a great deal of knowledge and information.
Whilst this cannot be replicated in most start-ups, there is an alternate benefit of being able to gain experience from building something from the ground up. Whilst the knowledge gleaned from others will be a great benefit, being able to demonstrate that you can turn nothing into something can often make working for a start-up worthwhile.