Genuine VC: Seven Questions Employees Should Ask Before Joining a Startup
Thinking about joining a startup, not as a entrepreneur but as an employee? David Beisel of Genuine VC has posted seven questions to ask before you accept a job.
If you’re an entrepreneur hiring people for your startup, you might want to keep these questions in mind in case you’re ever asked them during an interview.
There are many benefits associated with joining a startup as an employee at any level (energized work atmosphere, little bureaucracy, upside), but there are many significant risks coupled with them as well. Of course, a prospective employee should ask numerous questions of both his/her role and the company before joining any firm, but there is a set of questions specific to joining a startup that people should pose. I’ve tried to outline what I think are some of the most important questions below.
- What is the burn rate and how much cash is in the bank now?
- What is the plan for exit strategy and its timeframe?
- How many employees did/does/will the company have six month ago, now, six months from now, a year from now?
from Loyd.
Digichex on October 25th, 2005 7:15 am
I think most people, while they may think of the increased risks associated with start up companies, would be unlikely to ask a prospective employer about bank balances and burn rate of cash, and unless they are a candidate for a accountant, CPA or the like are unlikely to get an answer. The best bet may be to research the background of the principles of the project to gage their experience and likely hood of success.
Digichex
Rick Zeien
Founding Member
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