Every company has to start somewhere but the growth of the start-up economy has been nothing short of phenomenal in the last five years and better still, the start-up world has become trusted by established professionals as a safe and applaudable place to move their careers.
The 21st century has brought with it a fascination and an obsession for start-up companies but what we have seen in the last two or three years is an increasing amount of established finance professionals making the move from the corporate world.
As a recruitment partner, we have been able to see this trend gain pace year on year but despite this number growing, the conversation about start-ups is almost always geared towards millennials with illustrations of ping-pong tables, artificial grass and free pizza to match.
Our intention of producing this paper was to highlight the extraordinary opportunities the disruptive world has to offer but also to refresh the conversation and address it to the established professionals looking for an alternative workplace but also the ability to make an impact, be involved in the decision-making process and learn an entirely new skill-set.
These are some things to consider today to prepare you for life in the disruptive world tomorrow:
Defining a start-up isn’t easy;
When approaching a career move of this size, it is important to think about your own definition of a start-up and what it means for you. While there is no definitive description of a start-up, some use the number of employees, turnover or age of a company to determine its classification as a start-up but with such a broad range of companies sitting under the ‘start-up’ branch it is vital you set out the characteristics you are seeking from a future employer and this includes their size. Moving to a company too small can mean really going back to basics and taking a step down the ladder.
Utilise your existing network and expand your reach;
You will be surprised by the sheer amount of HR professionals you can find within small companies that will help you reach your decision on start-ups. LinkedIn and other social platforms connect you to a world of exceptional people and it’s important you utilise this. Speaking to HR Directors and Chief People Officers within the disruptive world will help you to form an understanding of the lifestyle on offer and reach a decision on whether you think it’s the right path for you.
Reading through the lines of a fairy- tale narrative;
Despite the incredible opportunities on offer, start-ups are often viewed with rose-tinted glasses due to the way they are depicted in magazines. There is a fairy-tale narrative about the growth and legacy associated with joining a start-up and; while possible, it doesn’t illustrate the difficulty involved in getting a start-up in its traditional form, up and running. Start-ups generally come with a great deal of pressure- think about the likes of Netflix, Tesla and Spotify – there is not just the pressure from the public but from their demographic too; and, internally their workforce is rife with competition as for every application you make there are 10 others in the running. Unfortunately, this can also mean in a high-profile start-up environment, roles can be incredibly unstable.
Career diversity isn’t always sought after;
While we and many other organisations value career diversity, you might find yourself frustrated by the number of organisations who do not hold the same appreciation for a variety of career experience.
In a corporate environment, hiring managers will often seek a candidate with a vast history of working within larger companies as they will not only be fluent in process and structure but they will know how to navigate their way around an often-political corporate environment and be privy to the possibility of getting lost in the machine. The same principle applies within the start-up world as you will need to match the fast pace, avoid the risks, possess the ability to deal with a certain level of ambiguity and carry out the tasks you once had a team of people carrying out for you.
Less room for bad behaviour;
You may look at a start-up organisation as a workplace that offers a more relaxed environment and a greater work-life balance and while this is possible, there is less room for bad behaviour. Many things can get lost within a corporate organisation and that includes cultural clashes. A difference of opinion between team members can be met with mobility and a person can be moved between departments or even buildings, but, in a start-up there is no-where to hide, no-where to move and no resources to replace a lost employee. Start-ups can offer an enjoyable way of working but while the physical structure isn’t there, it’s important to stay conscious of your working environment.
What are your motivations to move?
You should be thinking less about where you want to move and more about why. What is it that you are seeking from a new environment and what are your reasons for doing so? We hear from so many professionals who feel as though they aren’t making the impact they want to make and seek a role in a start-up company to allow them to have their voice heard but if you are not making the impact you want to have in your current company perhaps it’s less about moving to a different company size and more about finding you the right business and the right role.
Start-ups may be disruptive, but it’s not all the disruptive world has to offer;
We refer to companies who have a start-up mentality as disruptive but it is important to remember disruption in a business sense is not limited to start-ups. Corporate companies like Apple and Google are extremely disruptive and an example of how you may not need to make a fundamental change but rather a simple change of environment.
For full access to all of our interviews and exclusive research in our latest white-paper 'Are you too corporate for a start-up?' follow the download button below.
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