Final Interview - things to consider at a startup?
I have a final interview at Peerlyst, "the Reddit of InfoSec" and I'm wondering what are some important factors I should consider before leaving the stability of a Fortune50 company and joining a small start up. They received 3 million in seed funding in mid 2014 and are pursuing a series A by the end of the year, but nothing is official yet. Less then 10 people in the company. I'm interviewing for a sales role. Any advice is greatly appreciated.
Thanks, appreciate the advice. I'm excited for the challenges that it will bring, but I'm more concerned with bigger picture hazards that are associated with start ups. Like viability of their business model (which isn't entirely clear to me yet).
Investor confidence is usually a positive thing. Look into who took part in the Seed round, if it’s public. At a company that size you’re bound to interview with the founder(s) so really hear their story and ask everything on your mind, including where they see the business in 1 year or 10 years. You’ll never for certain as with any startup but if their story resonates with you and excited you jump at the opportunity. I think if you perform and show results, you’ll have lots to take with you to another company if they do fail.
I would be very wary. The phase between a mature seed round (seed rounds are typically intended to last 18-24 months and series A is particularly precarious. The metrics to get a Series A round are hard to achieve. Many startups fail to get to the series A upround and find themselves looking to conserve cash and cut their team. Without series A in the bag you are putting yourself at risk of being at either an unfunded or underfunded startup which could mean either imminent layoffs or severe equity dilution with a Downround.
No process, minimal resources. BUT, that’s what’s exciting about it, opportunity to wear multiple hats and do whatever it takes to help the company move forward. If you enjoy being scrappy and curious, it’s a great experience and journey. Also, potentially lower pay (obviously depends on company) but better benefits to offset lower pay (again, depends on company but this is my experience I.e. flexibility to WFH, stock options, unlimited vaca etc). Determine your risk profile