Recently, someone asked me this very interesting question, and I decided to answer this through the Ask Vishwas video series that is targetted to help youngsters and business professionals make tough and mind-blogging decisions related to their career.
Question 1: ‘I have two job offers in hand, one from an MNC and the other from a Startup. I am utterly confused about which one to choose,’ asked a young professional.
To be honest, there is no right answer here. It completely depends on your personality. An MNC and a Startup are two different ends of a spectrum. With an MNC things are more structured, you have large teams with multiple hierarchies and most importantly you have a sense of job security (mostly but not always).
With a Startup, you have a different mechanism and you need to be ready to deal with chaos. It is all about hustle when you are working at a Startup and you need to be open to working for long hours and provide support during product deadlines or client demos. You need to be cross-functional and you need to have the mindset of a problem solver.
Startups push your career to the next level and your growth is super fast. But you also run a risk of instability (but this depends on what stage your startup is at). There can be instances when it can run out of funds. While in an MNC, you may have multiple stakeholders for a project but you can also face possible internal politics.
So honestly, there is no right answer. If you like a fast-paced life then choose a Startup, but if you like more structured workplaces, then an MNC can be the best bet for you! The choice is completely yours, just go out there and do what is best for you!
Here’s another question on startup challenges.
Question 2: ‘I think I am working for a Startup that is heading towards failure. Their focus and execution seem to be so incorrect. The reward to risk ratio is just too low for me. Should I just quit?’
This is a very interesting question. Firstly, I want to tell everyone that Startups come with their own risks and rewards. A lot of your sweat and hard work goes into creating a great product or service for your company, but at the same time, you also need to know when to quit.
In the startup ecosystem, there is a mantra – ‘The fail fast approach’. Most Startups build an MVP (Minimum Viable Product) and take it to the market to test the viability of the idea. If your startup seems to have problems in this beginning phase, then you need to consider the following things –
- How much stake do you have in the company?
- How much funding is left for your Startup?
- Is your startup bootstrapped or has it recently raised a seed investment?
Considering all this is fine, you need to think whether execution is the problem? Or what else is going wrong? In my opinion, before you jump ship or abandon the ship, you need to first figure out how you can save the ship from sinking. If you see a possibility, then you should definitely give it a shot!
Don’t just call it quits! Try to make a difference. Give yourself and your startup a definite time say 3-6 months and see if you can turn things around. If you can’t, then it’s time to move on.
So, before jumping to any conclusion just weigh out all your options and may the force be with you!
Disclaimer: A version of this story is also published on the Vishwas Mudagal column on YourStory