If you’re like some 1.8 million unemployed Kenyans, finding employment is the first priority in your life. Considering the hundreds of startups emerging and expanding in Kenya each year, it might be time for you to broaden your job market scope to include this fast-rising business sector.
Working for a startup has many advantages including possible equity in the company – look at how many millionaires work at Google just because they started there when the company was just a startup.
When choosing the best startup to seek employment, there are a number of factors you need to consider to ensure a successful and long-lived opportunity. In this guide, I’ll try and break down a few.
How to Choose the Right Startup for Employment
Find out the Startup’s Background
Every successful startup has a story, and if you play your cards right, you could become part of this story. So this is a good place to start. Research the company’s history – owners, funding sources, profitability, market growth strategies, etc. The more information you can dig about the startup the higher the chances are that you will make a more informed decision.
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It is important to make sure the startup is financially sound, now and for future growth. It is useless to get hired in a dying company.
Research the Business Reputation so Far
Being a startup, the reputation gathered from customers so far is likely going to affect the business’s market penetration process. So this is a key factor to analyze.
Look at the projects the startup company has worked on so far, and see the feedback they received from these projects. This will not only allow you to spot weaknesses that you can mention during your interview, but it also gives you an industry perspective from competing businesses.
Most startups are usually looking for critical thinkers to help them penetrate the market with a unique strategy. By looking at their current work and identifying improvement areas, you could easily shine in your interview during the hiring process.
Review the Compensation Package
A third and critical factor while seeking employment in a startup company is to review the compensation package thoroughly. Many startups offer equity in the business in lieu of either all or a portion of the salary. This may sound great, but it’s also risky. It could take years before any real profits are made in the company. So knowing whether this is financially feasible is crucial.
Get the Whole Picture
Finally, it may be necessary to ask about support staff (if any), who else works for the business, and what their role is within the company. Ideally, all of the pieces will mesh together to form a cohesive entity that will offer a pleasant and rewarding employment opportunity.
Working for a startup can be very exciting, frustrating, and exhilarating all at once with each day offering a different and new experience for any new hire.