Are Startups Right for Me?
The Basics: What are Startups?
Start ups are companies or projects initiated by entrepreneurs that seek to grow a scalable business model. Startups can range across a variety of industries, from technology to healthcare, and span many roles, from data analysis to marketing. However, many modern startups are often technology oriented in order to have high growth potential.
Are Startups Right for Me?
The startup sphere can be enticing - many people are attracted by the possibility of creating the next Facebook and making an enormous sum of money - but working in the startup space may not be the ideal lifestyle for everybody. Working in a startup can be quite the roller coaster ride, characterized by long work hours, periods of dim prospects and sudden shifts in work. As Harvard students, the best method to discern whether or not the startup sphere is right for you is to ask current students as well as Harvard alumni who have worked for a startup and/or founded their own startup. Here’s a quote from a current Harvard student about how to go about figuring out whether or not startups are the best fit for you:
“Many people are drawn to the idea of working at a startup and/or founding their own startup and making it big. However, most people do not act on their inclination towards the startup sphere. As someone who has a romanticization of the startup sphere, I realized that in order to see whether or not startups were really for me, I had to get some startup experience. I was able to secure a summer internship at an HBS startup, where I gained valuable experience and realized that startups were definitely my cup of tea. So my two cents are if you are drawn to startups, try to get experience at one - at worse you’ll gain some valuable skills!” Intern at humanID, Harvard Class of 2023
To help you out, we compiled a list of some of the reasons why you may or may not be a good fit for the startup sphere:
Startups move extremely quickly and tend to change their course of action many times. If you are okay with uncertainty and a fast-paced work environment, startups might be for you.
“People who are super flexible and won’t freak out if things are not super setup and clear will do well in a startup environment. Essentially, you have to be fine with uncertainty.” Founder of humanID, HBS Class of 2020
Startups require an enormous amount of work in order for them to succeed. If you work at a startup, you need to be prepared to work extremely long hours. If you are looking for a good work-life balance, startups might not be your cup of tea.
“You need to have a really strong work ethic. You need to be able and willing to work crazy hours - I’m talking 80+ hour weeks - constantly over a very long period of time to succeed in the startup sphere..” Founder of humanID, HBS Class of 2020
“You should be prepared to be on the clock 24/7. You never know when you’re going to get a message to complete an important task, and in a startup, speed is everything, so receiving a message could mean you dropping everything - even if you’re outside of normal working hours - to complete a task.” Intern at humanID, Harvard Class of 2023
Many startups fail, and even those who are successful will not see success for a long time. If you are able to delay gratification and remain disciplined for a long period of time, the startup sphere might be a really good fit for you.
“You need to be able and willing to delay gratification for a very long time. Essentially, you need to be okay with having your time not being immediately exchanged for money. You also need to be able to feel gratification from working in general even if the market is not responding well.” Founder of Strada Routing, Harvard Class of 2023
Startups are an extremely risky endeavor. If you are not risk-averse, then you will definitely fit into the startup culture.
“You need to be willing to take risks and have confidence in your decisions. You also need to have the confidence to just start building or working on an idea just to see what happens. For me, what helps me be okay with the enormous risk involved is I feel pretty confident that even if my startup fails, I’m still going to learn a lot from it, which is the most important thing. I know that even if my startup is not a business success, it’s still going to be an intellectual success.” Founder of Strada Routing, Harvard Class of 2023
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