Joining a startup

[Orangeade]

I have £50k at a £2 per share buy option. Current value based on its last value at fund raise puts each share I would be eligible for at £12.50~

It's a substantial number.

Fortunately for me, I'm still the only one who does what I do within the company, as its an integral role. Without my "department" there would simply be no one to sort the hardware for client installations. Without it there is no data stream. Without that, no one else can do anything.

My issue seems to be that I just chug along, making stuff available like I have done for 4 years. In a separate office 2 hours away from the main HQ.

Mabey I'm being silly... I do very much enjoy my current role. Just feel left behind in regards to the company management.

Have you actually raised this as an issue? It could be a perception issue that is self fulfilling if you don't mention it?

 

[Diagro]

Have you actually raised this as an issue? It could be a perception issue that is self fulfilling if you don't mention it?

I did mention it.
I asked them what happened to the meetings.
Was simply told they were stopped and others would take their place.
To find... that they still have the same meeting at the same time slot. Just without me haha

 

[Orangeade]

I did mention it.
I asked them what happened to the meetings.
Was simply told they were stopped and others would take their place.
To find... that they still have the same meeting at the same time slot. Just without me haha

But was it just a mistake? Easy to update a new meeting format which could change focus and drop someone off by accident. Is there someone else also missing?

Or if there was a reason for it, would be good to figure out why even for personal development as it would be concerning that they didn't feel they could mention it etc. Not even necessarily for this company but in general.

I remember being younger and getting dropped from a repeating work call and finally plucking up courage and asking. Turns out I was perceived as being highly aggressive at expense of senior management who I was not diplomatic with. It was really instrumental for me and made a huge difference.

 

[Diagro]

But was it just a mistake? Easy to update a new meeting format which could change focus and drop someone off by accident. Is there someone else also missing?

Or if there was a reason for it, would be good to figure out why even for personal development as it would be concerning that they didn't feel they could mention it etc. Not even necessarily for this company but in general.

I remember being younger and getting dropped from a repeating work call and finally plucking up courage and asking. Turns out I was perceived as being highly aggressive at expense of senior management who I was not diplomatic with. It was really instrumental for me and made a huge difference.

Oh its definitely no mistake.
My line manager used to be the CEO. Now it's the COO who joined last year.
Since then... I've been far more micromanaged. Which I've pushed back about.
Meh.

 

[Participant]

OP, I left a financially beneficial and secure role in a very large FTSE because I was sick of Plc BS and am far happier now in a start up, with fewer BS meetings and corporate waffle / arrogance.

Yes the job security is objectively lower, but I know I can find another job pretty quickly if it goes pear shaped and in the meantime, I have added things like "startup", rapid growth, building new teams, sourcing funding, and M&A to my CV.

For me a big part of it comes down to what makes you happy in a job and are you happy in your current one.

 

[Mr Jack]

Any advice?

We regret more what we do not do than that which we do do.

I say go for it. There's a small chance it'll thrive and you'll make a small fortune, a substantially larger chance that the company will fail and you'll end up looking for work at some point. But, when you go for your next job, you can say you've run a company and you'll have made a ton of useful connections. Most likely you'll fail upwards into a better position than your current one.

 

[SPG]

I have worked with a lot of Startups over the years, and been offered a few jobs, but they all share common traits.

If it's a success then it will be sold off quicker than you can blink, the VC`s will not hang around at all.
There won't be enough hrs in the day so be prepared for long hours.

Recruitment will be a nightmare (This by all accounts is the biggest cause of failure and why everyone gets burnt out quicker than normal due to the long hrs)

 

[Demon]

A bit about me. I’ve been working in engineering and tech for around 17 years now. Last year I was approached by a startup looking for a CEO/CTO. They are band of experts that are looking to turn their ideas into a product. Whilst I’m not a product manager I am very good at developing ideas and turning them into highly viable prototypes. This is basically my role at the moment.

The good part is I was also approached by a VC who was the one that recommended me to take this role. The area they are working in is exciting and in my domain of expertise as well.

The bad part is the usual giving up a stable job that pays well. I have good amounts of savings but those I want to make sure they are left to grow towards my FIRE number. So I need to make sure I’m at least paid enough to cover my expenses which are a bit silly at the moment due to combination of living costs, mortgage and nursery. Basically nearly £75k I need after tax. My wife works which helps a bit on that. We are negotiating on pay so this opportunity may not work out if they can’t come in with something that covers my day to day costs. If it was 2 years from now I would have no nursery costs and I think I will have cleared my mortgage in my current job so living costs come down. I’m weighing up whether I should just hold on for this as things become basically risk free from then.

Anyway back to the point of the thread. Has anyone else been in this sort of position? How did it go? Any advice?

My observation is how do you think you will fill the ever morphing role of CEO/CTO as it goes from Seed to Series A and possibly Series B/C etc?

i.e. your "Whilst I’m not a product manager I am very good at developing ideas and turning them into highly viable prototypes. This is basically my role at the moment." would mean you are going to have to grow yourself in to a much broader role, or effectively you will be side-lined/replaced.

However, rather than a negative, this could be an opportunity for you to grow.. you never know until you try and it could very well be quite a defining moment..

Everyone has already said what I'd be thinking, don't undersell, and definitely want some equity on top, but don't rely on that!

 

[NickK]

This is a very ear.y stage start up so don't expect a high salary, any security but try and negotiate a decent share and see what happens in a year. 75K after tax is likely far too much for this stage.

Also that your share is not able to be diluted otherwise you'll end up with little value in stocks.

 

[delta0]

Thank you all for your input on this. I’ve had a lot of time to think and fortunately they have given me some more time while they set things up. My position at the moment is still focusing on the great area of work and I think we are agreed on the pay. This is one of those things I wouldn’t want to look back on and regret not doing. So I’m leaning towards taking it but I’ve got some more time think about it at least.

Something that really plays on my mind at the moment is a feeling that I’ve hit a wall in my current role. The learning and growth is not there most of the time so I’m getting bored. This new opportunity would come as both a relief from this and also open up a new chapter in my career, one that I have always wanted to take even if it’s a little earlier than I expected I would.