The startup is a familiar concept in today’s business world, with the phrase first coming into use in 1976. Not surprisingly, at the time it was used to describe new data processing companies. As new technologies have developed, a new vocabulary has grown with it and now the term start-up carries a much richer meaning than simply a new company.
Of course, one of the main features of a start-up is that it is unknown, probably attempting to break new ground and exploring new business practices. All of these can be seductive ideas, but they also carry risks.
No start-up is guaranteed to succeed, in any industry. According to research, 20% of new businesses fail in their first year and 60% within three years [1]. Employees who commit themselves to such uncertain enterprises can only hope their faith will be repaid, but this cannot be taken for granted, even if the business has secured generous funding.
However, there are still many persuasive reasons for joining a funded start-up. If you are embarking on a job search for a way into the buoyant tech industry or seeking to extend your existing career path in that sector, being part of a vibrant, well-resourced start-up could be precisely the move you need to achieve your professional development goals.
Here are just five reasons why.
Growth
You won’t be fitting into a pre-defined slot with rigid roles and responsibilities. The work and environment of a start-up is fluid. Its aim is to achieve rapid growth which means creating new rules, rather than following old ones. That means the opportunities to assume responsibilities and develop new skills will be considerable, and you have a genuine charge to shape your own experiences. It is also highly rewarding to be a contributor and witness to the start of something that becomes huge and knowing you were a part of business history.
Variety
For much the same reason, a start-up offers chances to spread and test your talents across a variety of disciplines. Precisely because it is impractical to impose a structure on the enterprise until it has developed sufficiently, in its early days any member of the team could be filling any role.
You might be skilled at web design or coding but suddenly find yourself exploring the possibilities of quantum computing. It is often the case that the right person for the role reveals themselves through necessity, chance or good fortune. In a well-funded start-up there is sufficient financial security to enable things to grow organically.
Motivation
In a start-up, there is a strong feeling of common purpose. The traditional distinction between bosses and employees still exists, but it is much less important as every employee has joined because they believe in the project, care about its development and are personally invested in its success. You may not own a piece of the company in the formal sense of a share-holding but there is likely to be an emotional tie that motivates you and your colleagues to give your very best.
Innovation
By its very nature, a start-up is doing something new. That will inevitably involve not just new business structures and practices but also the adoption of emerging technologies including AI, automation, app design and virtual reality. If you want to be at the cutting edge of digital and operational innovation then there is no better place to be.
Culture and Diversity
Start-ups tend to be culturally distinct from established businesses. Their founders are usually younger, without the baggage of traditional careers and are ready to question, asking both ‘why?’ and ‘why not?’ They will attract exceptional talent and be much less concerned about someone’s background and paper qualifications than about what kind of person they are and what they can do. Diversity is the natural state of the start-up.
At Tekna Search, we have the expertise and client base needed to help you find the perfect next step on your career path in emerging tech disciplines. We are recruitment partners of choice for the tech industry in New York.
Contact us today.
+1 (929) 299-1824
Source: https://fundsquire.co.uk/startup-statistics/
