I get a lot of recruiter emails from big and small startups/preIPO companies. Company description is exciting, calls with the VP/director/manager is so good that the company seems to be next Google, yada yada yada. However, I also see that most of these companies are nowhere to be seen after five years (tracking from 2012) or haven't been as successful as they portrayed themselves to be. I'd love to join a good startup but don't understand how to evaluate a good one. How do you analyse a startup before joining it?
1. top line growth rate 2. mgmt team bios
The fact that you missed out on Uber Airbnb Stripe Lyft DoorDash Lime Instacart AppDynamics Qualtrics Gusto and so many other unicorns, I donāt think you will ever join a startup.
Interesting. Being at Netflix has been great during the same time period (growth and money wise). The only ones I maybe regret not joining is Uber and Airbnb in that list. And that's still a maybe. And you still didn't answer how to identify a unicorn before it became one. So I'm assuming you didn't join any of these companies either. š
You donāt have to join a unicorn to make the banks. My paper worth is $3M with a $400M valuation startup. What I meant is you join startup for loving what you do, not gambling to strike it rich. Big difference.
Tbh if someone can tell which startup will succeed, he/she should start a VC or angel. What you have observed is the fact, thereās very small chance.
This is a notoriously hard question, I'll give it a shot: If their business is simple to explain. Principles first thinking - is it solving a real problem. Dream big - when you hear the idea you think "yeah that would be nice, but the execution is insurmountable." If you can answer those 3 questions as true without debate, you're probably on to something.
Thanks this is a very useful reply!
every failed startup can answer those questions easily
Lol u and every other VC
Do you do frontend?
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