Joining a newly started company Pro's/Con's

[B16JUS]

Hi,

Ive interviewed for a role at a new company with a brand new product in the banking sector.

Obvious worry would be not getting paid one day and company folding and having to find a new job but it seems there is very good funding behind them and was started up by a couple of guys who just sold the company they built from scratch for 120m so again they seem very good at building a company up.

Pro's I can see is being part of the company from the almost beginning would be good as the company grows etc.
Con's I can see is worse case lost 1 months salary if worst happened.

Anyone taken a chance like this before ?

J

[MethylatedSpirit]

I joined a small independent cafe just as it was started; in fact, the furniture was from IKEA and chucked in the back of my estate car.

At first it was "sit and make coffee" job for pocket money during university, now I'm running four stores, training staff, interviews and rota with pay to match.

I can't say it was a "risk" since I was already employed (work sending me to uni) and just wanted extra cash. And that's still the case.

[B16JUS]

Cool thanks

So all worked out for you

[Mr E]

B16JUS said:

Anyone taken a chance like this before

Joined a startup that had nothing like that level of funding. It worked out but it very nearly could have gone the other way.

Pros; there's nowhere to hide. If you're good you'll be noticed.

Cons; there's nowhere to hide...

[B16JUS]

Yes there is deff equity backing and like anything people with money dont want to loose any or use more than they need to so i strongly belive they will be fighting and working as hard as they can for this to work.

Product is good and slight deviation from identical products

Not worried about hiding im a hard worker so hope my experience and hard work would get noticed.

Fingers crossed i get offered it

J

[TurricanII]

Equally, there have been threads where people who joined a new startup have worked all the hours, sweat equity, and a couple of years down the line they found that they were working under management/staff that had been brought in gradually. Management who don't know or care about previous contributions.

You may need to think about what you want in the future steer yourself into a good position so you are not overlooked. Don't assume that hard work will be rewarded/recognised in future. Work on a personal relationship with the owners.

[DUMBO100]

Choose your Business Partners very carefully, hopefully you will. Best of luck