Top or Flop? Your Guide for Startup Jobs
Take an innovative idea, an exciting product and an intelligent business plan - and you have a startup. But will it be successful? No one knows at the beginning, because only after a few months does it slowly become clear whether the startup will succeed or fail. But how can applicants know which startup will be the new Uber and which will collapse like a house of cards? Rhapsodizing founders and utopian profit estimates can make almost any startup seem like a goldmine. We show what you absolutely have to check to distinguish top startups from flop startups in our startup jobs checklist.
Compare the startup with the competition
Is the idea new or are there competitors? If a startup copies another company's idea without adding any real innovation, it's usually not a good sign. However, there are exceptions: for example, if a startup adopts the idea of a foreign company, which is new on the Austrian market, this can definitely work. You even get an impression of how successful the startup could become one day. Of course, there is only a good chance of success if the foreign company is not a competitor for the Austrian market.
For example, peer-to-peer payment startups have established themselves in various countries with their apps: The unchallenged market leader in the U.S. is venmo, and in France the Paris-based startup Leetchi has been successful for several years.
Checking the niches - how sustainable is startup success?
Creative ideas are key, because in today's startup world, there's almost nothing that doesn't exist. But you have to be careful that your dream startup doesn't get stuck in a niche. Of course, even crazy ideas (e.g. a 24/7 cupcake delivery service) can be successful, but at some point the niche - literally - gets tired. So make sure the startup of choice still has room to grow. If it looks like the zenith has been reached and the startup has become too much of a niche dead end, you're better off leaving the job offer alone. This is where your intuition comes in - look at the product and figure out for yourself how many people can get excited about it. Basically, if you're not convinced yourself, better look for something else.
Check the growth of the startup on the Internet
While you can't just walk in and look at the books at startups, there are still always indications of how healthy a company is. Are new people being hired, or just old positions being replaced? Did the office get bigger or smaller during the last move? Are there rumors of financial shortfalls and sales numbers getting smaller? These are all things you should immediately be on the lookout for. The signs are usually there, you just have to be able to interpret them. Ideally, before you even interview for the job, do some research on the Internet to see if you can find out anything questionable about the startup. Often the indicators are not hard to spot - so be vigilant so that the startup dream job project doesn't fail.
Ask the customers & search for the startup on the Internet.
Sometimes it is quite simple - if the customers are not satisfied, then the startup will fail. Look at reviews or comments from customers on the Internet (or other media) and see for yourself if they are satisfied. If the opinions are mixed or even clearly negative, then leave the startup alone. Just because you are enthusiastic about a company idea does not automatically mean that everyone else is too. Ask friends, acquaintances or family for their opinion of the startup's product. Tastes are often completely different depending on age and interests.
Look for change in direction - was the startup's previous course successful?
Has the startup drastically changed its direction recently? Have there been a lot of layoffs in the upper echelon? Find out if the company of choice is on course, or if it has set sail against the wind. It is not uncommon for startups to realize too late that their idea is not working and then try to straighten out the problems by changing direction 180°. Of course, this should set alarm bells ringing! Only in rare cases can startups save themselves through such maneuvers, more often the ship simply sinks. Be careful not to get on board when the rats have already left the ship.
Everything checked? Perfect!
Have you checked everything? Is there no significant competition, but comparable foreign companies have had success with a similar idea? The niches are checked and the startup has room to grow and enough clientele? Is there growth in the company, or is it running out of juice? Are the customers satisfied and you yourself convinced of the idea? Has there been a change in direction lately and if so, why? If you have answered all these questions, then you have a lot of meaningful clues as to whether the startup of your choice really delivers what it promises when it advertises its jobs. If you now score with a convincing resume, you may soon be able to start your dream job.
