They made me an offer, should I refuse?
The core process of evaluating a job offer from a startup is no different than that of evaluating an offer from any company. You’ve got to do your homework. First, get to know yourself, then get to know the company, then decide if it’s a good match. With startups, however, getting to know the company can be a little trickier than with established companies.
In general terms, typical differences between startups and established companies include:
Startups offer higher risk and potentially higher reward; they have fewer support systems in place for getting your job done – you have to “wear many hats”
Established companies are: less likely to fail to meet payroll or disappear overnight, and more likely to have established benefits programs (e.g. education reimbursement, 401(k) matching, etc.); roles are likely to be more narrowly defined.
Know thyself:
We recommend finding a checklist (most university career services offices post such tools online) and taking inventory of your own personality and preferences. Such tools provide guidance for introspection on things like your interests, strengths and weaknesses, values, work style, etc. Do you have the risk tolerance for a startup? Does your financial situation allow for gaps in compensation?
Know the company:
There are countless resources available online for learning about established companies, but not for startups. Without a long-term track record and feedback from hundreds of current and former employees, even if they included startups, such resources wouldn’t be useful without significant data sets to draw from. To evaluate a startup, think like an investor (in a way you are one – investing time rather than cash). How confident are you in the product, the business model, the financing, and especially the management team?
One of the most important considerations, no matter where you decide to work, is your relationship with your direct supervisor. Is it a person who: can communicate clear priorities, is open minded and adjusts plans in response to new information, will “have your back” in a conflict situation, will actively support your education and career goals, can be an effective advocate for you, is someone you trust, will make time for you, you can learn from?
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Over the years we’ve been exposed to Six Sigma, Juran, Deming PDCA, 8D, Dale Carnegie, A3, Shainin, and more. Each technique works pretty well, and has been demonstrated many times in a wide variety of industries and circumstances. At the core they are all essentially the same!
Each approach relies on an underlying logical flow that goes like this: [a] make sure the problem is clearly defined; [b] be open to all sources of information; [c] vet the information for relevance and accuracy; [d] use the process of elimination to narrow down all possible causes to the most likely few; [e] prove which of the suspects is really the cause of the issue; [f] generate a number of potential solutions; [g] evaluate the effectiveness, feasibility and risk of the potential solutions; [h] implement the winning solution(s); and [i] take steps to make sure your solution(s) don’t unravel in the future.
The differences between the paradigms resides in supplementary steps and toolkits. For example, 8D contains the important “In
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