When it comes to job changes, many people expect to move on from smaller businesses. The thought is, you may start with a small company or startup, but inevitably you will move onto the big leagues. Still, that is not always the case or even what is best for your career. If you are in the process of leaving a large company for a startup, there are a few things that you should do beforehand.
1. Consider your options.
There is a risk when it comes to leaving a big business. Larger companies and corporations provide a sense of job security. Make sure to weigh the risk of leaving that stability for any unknown scenario. A new business is liable to fail for any number of reasons. These reasons can include poor location, lack of capital, or tough competition. If your heart is set on joining a startup, look at different ones and assess their business plans and methods for dealing with hard times.
2. Speak with the startup hiring manager.
It is always advisable to speak with the hiring manager or owner before you take any next steps. Make sure that you are guaranteed a position with the startup. If you are taking a chance on an up-and-coming company, you will want to minimize the risks as much as possible.
3. Understand the weight of your daily decisions.
Large companies can make employees feel more secure in their decisions. Unlike startups, your decisions for a big corporation will not necessarily have an enormous – or any – ripple effect on the viability of the business. Focus your energy in part on trusting your judgments so you can make these decisions with purpose.
4. Adjust to waterfall budgeting.
Budgeting can be vastly different at large companies versus at startups. Large companies tend to have annual budgets. Alternatively, startups can budget on an ongoing basis or incrementally depending on the company’s present standing. It can take some time for a startup to establish a locked down budgeting process. However, the early stages can give you the opportunity to have budgeting conversations in a quick, straightforward manner.
There are plenty of useful skills that large company employees can bring to startups. Even so, there are skills that can prove detrimental in the startup environment. Knowing the difference between the two will help to solidify your future success at a smaller company.