Start-ups are in the news like never before, particularly with all the IPOs that have floated in the 2021 calendar year alone or are in the works. We discussed the risks, gains and learnings associated with working in a start-up in the previous column. Now let us understand a few skills that could make one successful in a start-up environment.
● Ability to cut to the chase in an environment of chaos and ambiguity
● Ability to thrive in a continuously changing ecosystem
● Ability to be self-driven and operate with high accountability
● Ability to do multiple jobs for the price of one
● Ability to influence the ‘influencers’ with authenticity
Apart from these, there are some key differences between large well-established organizations vs. bootstrapped start-ups.
| Non Start-up, MNC type | Start-Up | |
| Vision & Strategy | A long-term vision and strategy is created, which guides the operations for a minimum period of 3 to 5 years | Long term in a start-up is 1 year at max, and execution plans could easily change in a period of 6 months |
| Systems & Processes | Mostly structured, well documented and institutionalized | Evolving with time, flexible and more agile |
| Speed vs. Quality | Get it right the first time, even if it means that we need to spend a couple of extra days on it | Ship it out at the soonest; if there is a bug, we will fix it and send it back |
| Work Style | Balanced expectations with a clear demarcation of work and personal time | Blurred boundaries between work and home on most days |
| Responsibility | Fixed accountability to finish a set of tasks | Multitasking is required due to lesser number of hands comparatively |
| Compensation | Well-benchmarked compensation packages, with a pre-defined mix of all components | The compensation mix could vary person to person, with a lopsided preference for more long-term gains to keep people invested |
There is no one way to choose which organisation to work in. Right after getting a degree, some may be in search of financial security, whereas some may be more willing to take risks. Freshers would seek out mentors of large organisations to get groomed and ready for the marketplace, while some others may already come with experience of short gigs from school and college. All of these could determine which kind of organisation becomes the preferred destination for a graduate.
Similarly, we find an equal number of people switching between the two while mid-career. This could stem from a sense of saturation or a need to experiment. It could also be prompted by a need to find routine and processes after constantly drifting through the marketplace.
So, what is your pick? What suits you more?