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• Chick

June 25, 2009

Although the title of this article is somewhat similar to (stolen actually) that of the unofficial guide for start-ups, the content is entirely different in terms of the segment for which this article is written. While the former (the original) is meant for start-ups and the people behind those start-ups (as in the founders only please), this article is meant for people joining start-ups. And while the former is a roughly 474 pager, this guide is a compact 1 pager only. It’s a brief checklist of points one needs to think about before making the decision to join a startup. While these are all my views, and I know it might offend a few people and there will be exceptions to these thoughts, these are nevertheless the realities that I have realized over time working in a startup.

I want to work in a startup

This is actually not a question in itself, but it leads to the bigger question of “Why”. If you haven’t given a clear thought to the “Why” part then there’s a high probability that you won’t last in the startup for more than the time you’ve spent thinking about the “Why”. With the term “startup” becoming a common buzzword and a “hep” thing to talk about, and with all the success stories of “Google”, “Yahoo”, “eBay”, “skype”, etc, it is not hard to get carried away with emotions and decide that this “X” startup is the one I want to be part of.
That’s where people end, and go ahead with their decision. But, beyond that are the important points that you need to consider. The following 4 points are what you need to think about before making your decision:

1. What is the domain of the startup, and how well do you think it is placed to be a strong contender in the near future. For e.g, a new startup for social networking is not what you want to get into right now. On the other hand, a startup in the Business modelling and optimization domain is definitely a hot one right now (partly because of the optimization needs during recession, and mostly because there are not many players in this domain right now). Try to see the bigger picture and consider the whole business and not just your role. Also consider the amount of time you are most likely to spend in the startup, and evaluate as to what the market (for your company) will be like by then.

2. What is your own career growth in the company, and where do you see your career moving in the next 2-4 years. Is the start-ups’ vision aligned to your career growth and interests or not. A time of 2 years is all you get in a startup to do or die. Probably even 1 year. If the startup does not build something substantial by that time, then the chances of going big reduce exponentially, and which needless to say hampers your career as well. So, have a timeframe of 2 years in mind, and have a clear thought as to what you ought to be doing after 2 years, and what all do you need to do in those 2 years. It will be of great help to you and to the startup you join, both.

3. What is your stake in the company, and how and when can you realize them. Generally, all the start-ups have a low compensation package and a good equity package. It is always good to know your stake in the company in terms of percentage, rather than in number of shares / ESOPS. Also, it is good to know beforehand as to what is the ultimate end of your ESOPS. Remember that cash is king, and your ESOPS are nothing but a way to that cash later than sooner. So, if you cannot sell back your shares to the company after your vesting period (just in case you are not as interested in continuing any further or for some other reason see that your company is not going anywhere), and just have to wait to get your cash till the company gets acquired or has an IPO, then just move on to the next startup.

4. Be prepared for a culture shock. Whether you are straight out from college having dreamt of a workplace like you’ve seen in movies, or from a big IT giant where you have got used to that super-cool CCD in the cafeteria, you are bound to get a huge culture shock in the startup. Right from your workplace to your work hours, you will have to put in and get used to not having all that you need / wanted. A small workplace (usually a small apartment), no cool place (nor money) to have lunch (go out and eat at the nearby shanti-sagar everyday), work hours that leave you no time for yourself (8 – 9, 5 days a week), and no family-day or other such events regularly. What you will get definitely though, are people and knowledge – tons of knowledge about each and everything of business / startup.

If you have thought clearly about the above mentioned 4 points, it signifies that you are smart and know the value of money (3^rd point), have a holistic approach of viewing business (point 1), are professional and plan for the future (2^nd point), and you are prepared mentally to work in a startup (point 4). All these are essentially the points that start-ups look for in a potential employee, and also that one should think about before joining any startup.

Highly Recommended Read: Five points to ponder before joining a startup

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Want to Work in a Startup? Some Reality Check (No! Not by Guy Kawasaki)

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• Amazon…by Karim

June 29, 2009 – nice one by Karim

..

Let’s say you have a problem or a need or a want, and you’re sure there is product somewhere in the marketplace that would help. You Google, and a handful of web sites pop up that offer promising solutions. But obviously you don’t believe anything you read from vendors, so you check for online reviews. Then you wonder if the favorable reviews are planted by the vendor, and the bad reviews are planted by his competitors. Can you trust reviews from anonymous strangers?

You ask your coworkers and friends if they have ever used the product that you’re interested in, and no one has. What now?

Shopping is broken.

How much more stimulated would the economy be if the people who have money, and are willing to spend it, could be reliably connected with the products that they desire?

What the world really needs is some way to connect you with the people who already use the sorts of products you want, and are willing to answer an e-mail or two about the topic.

About a year ago I had surgery to fix my voice. The information on the Internet about that particular surgery was outdated and didn’t address my questions. The only way I could become a consumer of that surgery was by communicating directly with people who already had it, which I did. And since then I have answered questions for dozens of people who have the same questions that I had.

Likewise, as my wife and I make a zillion decisions for the home we are building, we prefer products and solutions used by people that we have spoken to personally. The Internet is virtually useless for any of the hundreds of product decisions we have made so far.

And what about choosing a destination for a vacation? You’re much more comfortable if you have spoken to someone who visited the same place.

The obvious problem with connecting past consumers with potential consumers is that while people are generally helpful by nature, no one wants a million e-mails asking how they like their new can opener. So how do you strike the right balance?

Imagine a system that works like this: When you buy a product, you agree in advance to answer up to four e-mails from future potential customers, beginning no sooner than one year from when you make your purchase. It’s totally optional, but agreeing gives you access to people who already bought the product you’re considering today, to help you make your own decision. It would strike you as a fair deal.

For privacy reasons, this imagined system would disguise your e-mail address. And the system would have to be administered by some third party, not the vendor selling the product, or you wouldn’t trust the strangers giving you advice.

Maybe you have a better idea for fixing shopping.

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