Conference Leaders

There is a strong possibility that on your first day of work you will discover that your desk consists of a couple of used orange crates with an old door laid across the top.  But that is just the beginning.  You will never know what to expect.  And it is almost guaranteed that your expectations or plans will not turn out as anticipated.  The results could be far better or far worse.  At the very least, you will gain a wealth of experience that is difficult to find anywhere else.  So go ahead, climb on board and let’s see where the ride will take you.  Here are just a few of the risks and rewards:

Risks of working for a startup company:

1. Low Salary or No Salary.  It is highly unlikely that you will start with a salary or wage that is typical for the industry or for your functional area.  In fact, you may be paid in stock, or a combination of salary and stock.  Almost all start-ups face tough cash flow challenges.  Revenue or funding dollars are usually put into marketing and product development instead of salary increases or bonuses.  If the company is poorly funded and revenue is slow in coming, you may not receive paychecks on time.
2. Inadequate Resources.  Since cash flow is tight, you probably won’t have the luxury of having all the latest gadgets . . . from manufacturing machinery to office equipment.  Instead of buying new, you end up patching up the old.
3. Staff Shortage.  Regular office hours?  What’s that?  “9 to 5” is a fictional movie, not reality.  Odds are you will be expected to work long hours.  And unless you are non-exempt, you will work those hours without compensation.  You will miss many family activities and work many weekends.
4. No Job Description.  The famous phrase “other duties as required” becomes the norm.  You may have to fill in for others when they are gone, and perform duties that are not even close to your normal responsibilities.  You will be called upon to “wear many hats.”  This can be very frustrating and nerve-wracking, but it can also make your job extraordinarily exciting.
5. Out-of-Business.  An overwhelming number of start-ups will not survive past the first year.  The revenue and/or funding were just not there, so you are now back on the street looking for a new job, and the only thing you can do with your stock is wallpaper a room.  But if you have a spirit of adventure, then the rewards may well be worth the risks.

Rewards of working for a startup company:

1. Gigantic Financial Return.  If the company is successful, your salary, bonuses, profit sharing, and other financial incentives can be huge.  If you own stock and the company has a successful public offering or is acquired by another company, you can conceivably retire a multi-millionaire.  For example, many of the original employees of Microsoft and America Online (AOL) are now millionaires.  But a successful start-up doesn’t have to be a Microsoft to produce wealthy employees.  Many start-ups with accelerated growth will produce very wealthy, highly-paid employees at every level.
2. A Wealth of Experience.  Even if you don’t realize the big bucks, your hands-on, multi-functional experience will be a real asset for your long-term professional growth.  Typically your marketability and compensation dramatically increases.
3. New Friends and Business Colleagues.  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.
4. Heart-Pounding Excitement.  The exhilaration of being part of a successful start-up produces pride and a sense of accomplishment that is extraordinary.  You will never regret the long hours, hard work, and tight dollars.

So are you ready to take a risk?  Start-ups are not for everyone.  But if you want to have an extraordinary career adventure, then go for the gusto.  Hold on.  It will be an exciting ride.