I wanted to share a bit of the experience. Its not rocket science, this having a company thing. However, it requires you to get accustomed with several vital concepts that I wanted to share with you so you know what you get yourself into before you start.
1. Creativity – in everything… To begin with in your product. Unless you are one of those fortunate few who will discover the next “penicilin” idea (and those are a few) you will have competitors and your competitors would gladly eat you alive… and the younger you are – the better. So think of smart ways to grow fast and efficient with a unique proposition so that those other ones are long left behind until they realize what had hit them.
2. Willing to work long hours – My days are long… really long. And so are the hours of any start up company. I start work around 6:45 in the morning and I finish around 2:00 after midnight. If you feel like it read my post on working schedule of a CEO.3. Less structure – what structure? Although you try to have it all under control, structure is flexible to suit the needs of the day. You need to learn to change, adapt, grow and learn as you go and without making mistakes.
4. Multiple Roles – We are all what we need to be – from the IT support team to the coffee making person, through the secretary and all the way to the CEO. And roles go changing depending. Having a start up is rather exciting exactly because of the opportunity to try it all.
5. Fast-paced Environment – everything goes really fast in a Start Up. Decisions need to be taken fast and now. It increases the adrenaline and the thrill. You will miss it once your corporation is that big multinational that you currently only see in your dreams.
6. Willing to take a Lower Salary … and that is under the assumption that you get a salary. Start Ups are a volatile environment where money is an issue but it also isnt. It is true that money could be on the short side, however, the excitement of starting something new will take over. Someone has to pay the rent. So get ready for difficult times.
7. Tolerant of Growing Pains – small companies and big companies have one thing in common – problems of an equal cosmic size. The advantage of a larger organization is that there are procedures and techniques to overcome the problems, which would not be the case initially, with your own Start Up. So be tolerant.
8. Opportunity to Move Up – all the way because your start up will be the most successful business ever 🙂