Business Education

Pros and Cons of Working for a Startup

There are pros and cons of working for a startup — everyone knows this. But, it’s the actual realities versus the imaginary which cause a lot of undue anxiety and stress. Of course, it’s only natural to feel a bit uneasy about joining a fledgling organization. Even if it’s a great idea and a wonderful team of individuals, there are still up and downsides of working for a startup.

Cons of Working for a Startup

Let’s begin with the downsides first. It’s certainly no secret that salary is a huge concern. Often, what you’re paid is either low or in some circumstances, it’s “sweat equity.” Even if there’s an acceptable salary, there’s the real possibility your job description will contain a whole host of duties. In such an environment, it’s quite common for specialists to become jacks of all trades.

Working for a startup can involve a lot of risk, that’s no secret; according to the Wall Street Journal, three out of every four startups fail. In fact, there are startups funerals in Silicon Valley where CEOs can highlight the demise of their defunct companies and ruminate on any mistakes made. But that doesn’t mean taking a job with a startup – even one that ultimately fails – won’t allow you to gain valuable experience and skills to add to your resume. —Monster.com

Then, there’s the real possibility of working with less. It isn’t unheard of to have little to practically no resources at your disposal. Of course, one of the most common downsides of joining a startup is those long, irregular hours. Finally, there’s the real risk of untimely failure or an inescapable decline toward failure.

Pros of Working for a Startup

Obviously, it’s not all bad news. (If it was, no one would ever even consider working for startups. In fact, startups might not exist.) So, here are the upsides for working for a startup:

A potential huge ROI. We’ll begin with the ultimate enticement — a gigantic payout. After all, isn’t this why startups get going in the first place? And, there’s certainly no shortage of examples out there to showcase big-time successes.
Big gain in experience. Okay, let’s suppose you just earn a good salary and don’t hit the entrepreneurial lottery. You’ll gain a whole lot of experience during your journey that’s probably not available anywhere else.
Making new connections. Another advantage of joining a startup is your ability to make new connections. You’ll meet a host of people in different roles which can really expand your professional network.
The intangible excitement factor. It’s not just all about money and experience. There’s also the excitement of an unknown journey. It’s all wrapped up in a whirlwind of circumstances and emotions.

What other factors would you say play into joining a startup? Please let others know about your thoughts and experiences by commenting!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

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My Small Business Manager didn’t Manage the Business Well and Now it’s a Total Mess…What Do I Do?

June 23, 2022 No Comments

Some business owners run their company for many years, only to discover that they can’t do everything on their own. Once this inevitable realization materializes, most start to hire others to help them with various aspects of the business. Some even aspire to be largely absentee owners, leaving the day-to-day operations to a professional manager. So, they train someone up, giving them the responsibility of managing the company and then take a more offhand role, sometimes into a completely new venture or, to focus on one particular area. Typically, this goes fairly well, especially when said manager has been well trained. However, it sometimes ends in utter disaster and the manager winds up making a mess of everything. So, what do you do if you’re stuck in the latter nightmare scenario? What Good Managers bring to Small Businesses Before we get into how to fix a bad situation, let’s first look at why business owners hire managers in the first place. Usually, managers are brought on to handle all of the day-to-day activity. This allows the owner to put his or her efforts into expanding the business and even exploring new opportunities. A good manager will bring a nice return on investment, easily paying his or her salary, all while adding to the company’s bottom line. Bad management can impact employees and a company’s overall operations. Incompetent managers exist, and they can have challenges relating to staff members and keeping them motivated. In addition, substandard supervisors may not be able to balance budgets, increase revenues or capably perform other crucial tasks. —Houston Chronicle Small Business A good manager can really be an invaluable asset, being able to oversee employees, carry out projects, order materials and inventory, assign employees to various tasks and projects, and a whole lot more. In the end, the manager is also responsible for the public face of the company, particularly when the owners aren’t on site. Of course, there’s a great deal of trust involved here and unfortunately, that trust is sometimes betrayed. How Business Owners can Fix Mismanaged Companies If your small business has been mismanaged by an incompetent or uncaring manager, you’ve got your work cut out for you. The amount of damage he or she may have done may not be immediately apparent and will materialize over time. But, you can’t just wait to find out, you’ve got to leap into action immediately and do the following after letting him or her go: Talk to the employees. The very first thing you want to do is get a sense of the employees’ perspectives. You’re likely to learn a lot and some of it may take you completely by surprise. But, you’ll probably also get a kind of consensus and that will help you to know precisely what’s most important and how to prioritize what to fix first. Speak with vendors. This may sound a little odd but it’s probably worthwhile. Since vendors interact with the managers routinely, they will have different stories to tell and just like the employees, will probably give you some type of consensus. At the very least, you’ll find out how your former manager interacted with the vendors and if he or she had good or bad business relationships. Consult your customers. If you haven’t really heard any complaints from customers, this would be highly unusual. Although, your former manager may have been great in providing excellent customer service, while still mismanaging the business’ finances and/or mismanaging the team members. Regardless, getting your customers’ input is very important because it will let you know the reputation of your company. Lastly, you’ll have to go through the slow and meticulous process of piecing the operation back together. This might include having to make other personnel changes, establishing new relationships with different vendors, and possibly, having to repair customer relationships. Fortunately, a good business consultant can walk you through this very difficult process step by step. Interested in learning more about business? Then just visit Waters Business Consulting Group.

Clever Strategies Small Business Owners Can Use to Pay Off Paralyzing Debt

November 6, 2025 No Comments

Starting, growing, or navigating a small business through an expansion or lean sales period can present several challenges. Not the least of which is racking up significant company debt. These balances add up fast, and before you know it, they’re eating well into your profit, and possibly, erasing your income altogether.

3 Big Reopening Mistakes Businesses should Avoid

June 24, 2020 No Comments

Businesses are anxious to reopen. Consumers are likewise ready to return to normal (or as close to normal as possible). But, any business reopening must do so responsibly. After all, not providing a safe environment will only backfire and cost them in a number of ways. This means taking a smart, incremental approach and one that can help to get things back on track. What to Know about Post-Pandemic Reopening The first thing any business owner needs to know is exactly what their state and local governments will allow and disallow. If you run afoul of the rules, even those which seem unfair, you’re only setting yourself for a lot of grief and probably a huge amount of regret. For these small businesses to come back after the pandemic abates, and once again serve as an engine of American innovation, they need aid. The Coronavirus Aid, Relief and Economic Security (or CARES) Act set aside $349 billion in loans and assistance for small businesses and there may be more to come. But business owners also need to make the best possible decisions to get them through this difficult period. —Harvard Business Review Another thing to know about reopening is how your patrons or clients will respond. Just because there’s a green light to open from the state and local government doesn’t mean the public will respond positively. In other words, you need to understand public sentiment. 3 Big Reopening Mistakes Businesses should Avoid Now, as for reopening, there are many things you should do to get back to full operation. But, there are also things you need to avoid doing, as well. Here are three of the biggest reopening mistakes businesses should avoid: Expecting employees to immediately return to work. Just because you’re ready (and willing), doesn’t mean your team members will feel or act the same way. So, speak with each one individually and listen to their concerns. Plus, encourage them to be open about their circumstances and be supportive, if necessary. Some business owners are expressing challenges with employees who are receiving unemployment which exceeds what they earned as an employee so they are reluctant to return. Business owners need to be prepared by discussing the need to help the business serve its customers. Also, if the employee does not return, there is no guarantee the employer will not have replaced the employee’s position when the previous employee’s unemployment checks end Not having procedures in place to maintain social distancing. At this time, it’s expected there will still be a need for social distancing into the foreseeable future. So, be sure to formulate a realistic plan to maintain those social distances in order to provide a safe and healthy environment. Trying to rush through the reopening process to get things back to normal ASAP. Whatever you do, don’t fall into the trap of trying to reopen to soon or at too fast a pace. While it’s completely understandable you’re ready to resume operations, if you rush, you’re likely to make rash decisions that will cost you in more ways than one. Remember to offer what the Customer wants. Instead of trying to reinvent your service offerings, ask the Customer what they want and most enjoyed or valued about your services and deliver what the Customer wants. What other mistakes would you say businesses that reopen are likely to experience? Please share your thoughts by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.