How To Move From The Corporate World To A Startup
In the recent episode of the Your Pursuit Of Happiness podcast, Laura & Paul discussed what's involved in moving from the corporate world to a startup. Have a listen to the episode and then let's take a look at some of the key questions.
But first . . .
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Podcast Discussion
Ok, let's get into the discussion . . .
What's Involved In Moving From The Corporate World To A Startup?
If you're thinking about joining the brave new world of Fintech, you might be wondering what's involved when making the leap from the corporate world to a startup.
You may be pondering such questions as what's different, what to expect of your new employer, and what will they expect of you?
Let's take a look . . .
Extract From The Podcast Discussion
One of the main things that we see is the fast pace and, if you think of Facebook's model of 'Move fast and break things', it really exemplifies what a startup tends to be like and what you need to be comfortable with in that culture.
It's going to be fast-paced; it's going to be different every day. Things are definitely going to go wrong, and you need to be comfortable with that.
Even on the work-life balance, if you're the type of person that likes (and there's nothing wrong with this, by the way) your nine to five routine, the startup world can be a little bit more demanding at the beginning.
If you're the type of person that likes a really structured environment it might not necessarily be for you. You have to be prepared to maybe work that little bit harder.
There are also shifting deadlines and priorities that come with rapid growth and change.
You're going to be taking on a much broader role so you just need to be able to be very, very adaptable to change.
One of the other challenges is that startups often can't give customers everything that they want because the product is still being developed.
You need to be comfortable in that environment - not just that your product can't offer everything but in the fact that you need to find a way that your product can satisfy your customers' needs or be innovative about it and try to find a way to get it done. That type of innovative mindset is very important.
You need to be comfortable with less structure and more ambiguity. Generally, roles are less well defined, there's a need for you to work across different areas to put your hand up and take on different tasks that you weren't necessarily hired for.
There's inherently more risk with a startup which is something that people need to be cognizant of when considering a move to a Fintech.
There's inherently less security. A startup that may be really well funded may run out of runway if the product isn't adopted widely enough in time.
On the flipside, if you're an early employee in a startup, there can be a lot of potential and reward for the risk that you're taking.
However, people do need to be conscious not to get carried away with the whole, "Everyone's working in a startup; I want to work in a startup" thing because it doesn't suit everyone.
If you're a sole income earner for your family and you've kids to think about, the risk is something to consider. You need to be comfortable with that risk.
Again, looking from a different angle, there's probably no better time to take a risk. It's an employee's market at out there at the moment. Regardless of what happens to you in a startup, you will pick up a huge amount of experience.
If you're looking for real career acceleration, there's no better place to be than a startup. You can go in with a couple of years experience and then really broaden your skill set.
You also have the opportunity to shape the company culture and be kind of part of the company's early vision.
Want Some Career Advice?
If you want any information or if you're thinking about making the move into Fintech get in touch with us at Top Tier Recruitment.
You can contact us at info@ttrmail.com or call (01) 564 9602.
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