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What is a startup company? ?
On a broad scale, startups work in an indistinguishable way to other businesses.
In short, a
startup company is one in which a group of people work together to create and sell a product or service.
So, what distinguishes startups from other companies?
A startup is a company in the first stages of its operations, founded to bring a new product or service to market.
Startups are different from traditional businesses primarily because they are grounded on disruptive innovation, created to address a perceived goods or services deficiency.
Startups seek out a new, innovative business model, while other companies focus on successfully executing a pre-existing model.
2. Growth potential
Startups are designed to have high growth potential.
Steve Blank, a serial entrepreneur and professor at Imperial College, describes a startup as “
a temporary organization designed to look for a business model that is repeatable and scalable.”
In contrast, a company is “
a permanent organisation designed to execute a business model that is repeatable and scalable.”
Startups are also differentiated from other companies by how they seek financial investment.
Startups tend to rely on capital that comes from investors or venture capital firms, while other small businesses tend to rely on loans and grants.
Why work at a startup? 💻
Responsibility and variation
Startups are usually comprised of relatively small teams.
In a small team, it is unlikely that there will be many (if any) people with the same skillset as you.
As such, you will likely have much greater responsibility over tasks than you would in a large corporate environment.
It’s also fair to say that, in a startup, everyone is learning.
Working within a small team encourages you to take on duties outside of your specific role to contribute to the success of the wider business, helping you to develop new skills very quickly.
The advantage of being in a small startup team is that you will often be learning directly from the founder of the company and/or senior employees.
This is an invaluable opportunity when you are in the early stages of your career.
Not only will this keep you stimulated in your day-to-day role, but it will also give you the opportunity to find out what you are most interested in and discover what you are best at.
By taking on a number of different responsibilities and working closely with senior members of the team, startup environments enable you to prove your worth early on.
Due to the close-knit nature of most startups, your work will be noticed if it has had a direct impact on the business.
Management will be able to clearly see your involvement in a project’s initial stages to completion.
As such, the rate of advancement at startups tends to be much faster than its corporation counterparts.
If you can show an ability to adapt, grow and succeed with the increased responsibility startup environments require, you will progress to seniority quickly.
In short, as a startup learns to overcome challenges, makes big changes and ultimately grows, you will also grow professionally.
The values and attitudes of a business dictate its work environment.
If you’re not happy with the workplace culture of your employer, your job satisfaction and mental well-being will likely be impeded.
That’s why the
company culture at startups is something to be valued.
Due to their smaller size, startups tend to foster a collaborative environment that encourages people to help where they can on tasks outside of their original remit.
Relatedly, startups often favour a fluid structure over a rigid hierarchy, enabling open discussion and cooperation between all team members.
This in turn allows junior employees to have a say in shaping their company culture.
It’s no secret that startups also tend to offer great perks.
From company trips, flexible hours and remote working to gym discounts and unlimited holidays, every startup will offer a ‘benefits of the job’ package.
working at a startup will allow you to find your niche, take on big responsibilities, and enable you to fast-track your professional development.
Being able to shape your own role, as well as the wider business, provides a steeper learning curve than working in a large corporate ever could.
So, if you ask me, working in a startup is a great choice for anyone in the early stages of their career.
Want to work at a startup? Working in a startup is the perfect way for a graduate to kickstart their career – check out our range of graduate startup jobs in London and the UK.