Startups are messy, and exciting, and the work incentive is different. Working for a startup is awesome, and I think most people should join a startup at some point in their career. [Read also - Work in a startup 3 times in your life.]
You will be trading your time for two things - 1) accelerated learning and stacking up new skills and 2) potential financial upside in the future.
Go in with your eyes wide open and ask Questions.
If you’re thinking of joining an early stage startup, especially in a senior role, you need to ask the right questions going in.
#1 - "How many shares are outstanding and what’s the current valuation?"
This tells you what % of total shares you’ll own and how much those shares are worth, at the current valuation. Vague answers came be a flag.
#2 - "What’s a high/ medium/ low outcome for this company, and what are the likelihoods of each?"
People have different definitions of success and it’s important to know if you’re all underwriting to the same definition
#3 - "What’s the annualized value of my equity in the event of a high/med/low outcome?"
This may seem repetitive, but hearing a founder articulate this can reveal new info, and puts them in your sho...
