10 Reasons Why You Shouldn’t Join a Startup
Have you thought about it?
That’s a question often asked: Should I leave my job? Should I be left with no salary, no boss and the safety that comes with it to follow my dream? The entrepreneur John Rampton answers the big question: Why shouldn’t you join a startup!
“For the last several years the startup machine has been cranking out new ventures in a wide range of fields, from software to whaling. No matter where you look, an awesome new startup seems to be popping up. And you want to be in on the action.
As luck would have it, you notice that a startup is hiring and you’re more than qualified for the gig. You know going in that it’s going to be tough and challenging, but you think the potential that lies ahead is just too good to pass up. It’s almost a no-brainer. You’re considering joining an exciting startup that will change your professional and personal life forever.
But should you really join a startup? While it is true that the position may be full of potential, more likely than not you’ve been sold a series of myths. So before doing drastic, check out the following 10 reasons why you might not want to join a startup.
1. You might not get paid. Some startup employees work with the understanding that they are sacrificing a decent salary in return for receiving equity in the business. They’ll just work their tail off for a couple of years and then reap the benefits when the startup takes off.
But this assumption has two major holes: First, the startup may never succeed. If that’s the case, the equity in a failed or failing business really isn’t worth much. Second, startups are notorious for being frugal once they’re being funded. That money has to last for who know how long.
So if you take a position at a startup with the assumption that eventually the owners will feel favorably disposed to handing you a beefy salary or pay raise, you’re sadly mistaken.
Indeed you may want to second-guess your inclination to take that startup post if you’re content with your current position or have an opportunity to join a better-paying company.”