When deciding whether or not to join a startup, there’s a tendency to fantasize about the opportunity and obsess about the risk—neither of which are productive. To determine if you’re ready to take the leap, follow these steps.
- First, reflect on your motivations. Thinking about what you hope to get out of the experience will help you identify the right opportunity.
- Second, get to know the team by spending a few days onsite observing how work gets done. If possible, do a side project with the company.
- Next, do due diligence on the company’s financials. Find out: Is this company pre- or post-revenue? What is its burn rate? Block out the possibility that this startup is your ticket to fabulous wealth. Assume the equity is worth nothing.
- Finally, weigh the opportunity against all other possible uses of your time. Joining a startup is not just a job. It’s a lifestyle.
Adapted from "How to Know If Joining a Startup Is Right for You," by Rebecca Knight
