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Working for a Start Up. Who has experience with it?
Posted on 6/14/13 at 2:43 pm
Posted on 6/14/13 at 2:43 pm
I had a friend ask me about the start up community in Houston and it got me thinking about what working for one would be like. Obviously, if it becomes successful the rewards can be exponentially great. Anyone have experience with a successful start up or even better, horror stories from an unsuccessful one. What characteristics are most important for one to succeed and why do most fail?
This post was edited on 6/14/13 at 2:57 pm
8
Posted on 6/14/13 at 2:45 pm to AngryBeavers
Posted on 6/14/13 at 3:39 pm to AngryBeavers
A start up what? Energy company? I did that. Had a bunch of shares that I got to cash in when we sold.
Posted on 6/14/13 at 3:48 pm to cwill
quote:
A start up what?
Anything.
Posted on 6/15/13 at 7:10 pm to AngryBeavers
Really different based on sector and investment. Random tech startup app with little backing = huge risk, lots of hours but probably a fun atmosphere to work in. On the other hand, oil/energy startup lead by exec with 20+ years in the industry and ample, personal backing = more likely to succeed but also less likely to cash out unless its a huge payout.
Posted on 6/15/13 at 9:34 pm to AngryBeavers
I've worked for 2 startups. Neither really went anywhere and I bailed but I enjoyed the experience. I think it made me 'grow up' faster because you're always so close to the ground with a lack of resources and having to juggle this, that and the other.
To succeed, you have to have an open mind and be willing to do any type of work. Roles and responsibilities are very fluid and you often end up doing things you never thought you would. You do learn a lot in the process though and a good startup experience is great preparation for bigger things. Startups typically fail if the idea isn't that great, a lack of funding/resources or else the founders not willing to part with the stock leading to high turnover and unmotivated employees.
To succeed, you have to have an open mind and be willing to do any type of work. Roles and responsibilities are very fluid and you often end up doing things you never thought you would. You do learn a lot in the process though and a good startup experience is great preparation for bigger things. Startups typically fail if the idea isn't that great, a lack of funding/resources or else the founders not willing to part with the stock leading to high turnover and unmotivated employees.
Posted on 6/15/13 at 10:36 pm to AngryBeavers
A bunch of jerk offs wearing shitty band t shirts who couldn't get in laid in HS playing ping pong all day. That's what startups do, right?
Posted on 6/16/13 at 12:17 am to AngryBeavers
I hope this thread gets more answers, I am interested in this as well.
Posted on 6/16/13 at 7:02 am to reb13
Was part of big startup wireless company and it was extremely disorganized relative to my previous experience. You'll be expected to contribute immediately but I gotta say it was extremely fulfilling.
Posted on 6/16/13 at 7:24 am to fontell
quote:
You'll be expected to contribute immediately but I gotta say it was extremely fulfilling.
I'd like to try this at some point...
Went from a highly organized organization to a small business and its def fun not having a formalized SOP and being able to kind of make things happen as you want.
I'd love to be involved in actually starting from the ground up.
Posted on 6/16/13 at 8:48 am to Lsut81
My brother just started at one in the energy sector.
Posted on 6/16/13 at 10:52 pm to cwill
Prepare to do some sketchy shite if its in the O&G industry.
Maybe will can let us in on this
I've been told by private equity guys that they keep so much shite off the books its ridiculous. And any goodwill you see in a deal is the buying firm giving the company money for their off the books revenue.
Maybe will can let us in on this
I've been told by private equity guys that they keep so much shite off the books its ridiculous. And any goodwill you see in a deal is the buying firm giving the company money for their off the books revenue.
Posted on 6/17/13 at 10:35 am to AngryBeavers
The summer before I graduated I landed a job with a start up tech company. $12 an hour and I was allowed to work at home and whenever I wanted while coding reports. It was me and 3 others working and I was the only tech guy on staff. Probably the best job I have ever had before graduating college. It propelled me during interviews and with landing my first full time position.
Looking back, that company is toast now, although the ideas we were implementing were bleeding edge technology. It simply needed bigger backing and a better development staff instead of a college student. The same guy though that went with that start up, took his ideas and applied it to another start up that does some real impressive data analysis based off of social media. Upon reflecting on things, I would certainly work with a start up again, yet it would require me being completely sold on the idea, or have very good funding, in order to make a career switch. Start ups are great for college students looking for experience, and cheap labor.
Looking back, that company is toast now, although the ideas we were implementing were bleeding edge technology. It simply needed bigger backing and a better development staff instead of a college student. The same guy though that went with that start up, took his ideas and applied it to another start up that does some real impressive data analysis based off of social media. Upon reflecting on things, I would certainly work with a start up again, yet it would require me being completely sold on the idea, or have very good funding, in order to make a career switch. Start ups are great for college students looking for experience, and cheap labor.
Posted on 6/17/13 at 5:13 pm to AngryBeavers
I have a worked at a startup in the looking for Series A financing for about a year and have worked on the VC side of things as well.
From a "joining the team" perspective, we find the most successful companies to be those with VERY experienced management teams. We are talking about multiple years of experience on a variety of levels (both within the industry as well as the IT/Software perspectives as everything is becoming more and more integrated with software/apps/etc). Secondly, I would make sure that your management team is dedicated, in that they have one job and this isn't their side gig. When things get rough, some entreprenuers tend to leave one gig and go to another, and you don't want to be caught the only full time employee in an empty startup.
Additionally, i'd get feedback from current customers or people in the industry before joining a current startup. Something that might seem "cool" could be impossible to sell to your target customer, so i'd be sure that your product solves a pain point for your consumer.
Lastly, i'd make sure that the company has a great group of advisors from your space. More specifically i'd like to see someone in the advisory capacity that is a target customer to be your "opinion leader" on the product to help market it. This does a great deal of good from a credibility standpoint.
Lastly lastly, be sure that the C-Suite has skin in the game other than sweat equity. "Buying in" makes you work harder to succeed and will help when you need to work nights and weekends while your friends are out partying.
I am a 100% advocate for starting your own business. There is really nothing quite like those highs and lows.
From a "joining the team" perspective, we find the most successful companies to be those with VERY experienced management teams. We are talking about multiple years of experience on a variety of levels (both within the industry as well as the IT/Software perspectives as everything is becoming more and more integrated with software/apps/etc). Secondly, I would make sure that your management team is dedicated, in that they have one job and this isn't their side gig. When things get rough, some entreprenuers tend to leave one gig and go to another, and you don't want to be caught the only full time employee in an empty startup.
Additionally, i'd get feedback from current customers or people in the industry before joining a current startup. Something that might seem "cool" could be impossible to sell to your target customer, so i'd be sure that your product solves a pain point for your consumer.
Lastly, i'd make sure that the company has a great group of advisors from your space. More specifically i'd like to see someone in the advisory capacity that is a target customer to be your "opinion leader" on the product to help market it. This does a great deal of good from a credibility standpoint.
Lastly lastly, be sure that the C-Suite has skin in the game other than sweat equity. "Buying in" makes you work harder to succeed and will help when you need to work nights and weekends while your friends are out partying.
I am a 100% advocate for starting your own business. There is really nothing quite like those highs and lows.
Posted on 6/17/13 at 7:58 pm to AngryBeavers
I worked for a start up clinical lab.
They wanted me to take a "share of the profits", but I took all cash compensation.
They had no clue what they were doing, no business plan, etc. It failed in 15 months, but I got 14 checks. I Saved most of the money as this was just part of my consultant business.
They failed because they were ignorant and stupid. I mean that in the nicest possible way. They were lost from the start. They refused to listen to me as a subject matter expert so I cashed my checks and watched it burn down.
They wanted me to take a "share of the profits", but I took all cash compensation.
They had no clue what they were doing, no business plan, etc. It failed in 15 months, but I got 14 checks. I Saved most of the money as this was just part of my consultant business.
They failed because they were ignorant and stupid. I mean that in the nicest possible way. They were lost from the start. They refused to listen to me as a subject matter expert so I cashed my checks and watched it burn down.
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