Between the struggle to find work right out of college and the glamorized lifestyle, startups are becoming an attractive option to millennials who are heading out of college. The culture is often seen as a work-hard play-hard environment where power lunches are followed by extravagant outings at night clubs in big city centers. But the truth is most startups take hundred hour weeks to get going, and are often difficult to get paid from. Here are some of the key things to know when you’re thinking about working for one:
Success Won’t Happen Overnight: “The best-kept secret in the startup world is that there is no such thing as an overnight success,” wrote George Bradt, founder of executive onboarding group PrimeGenesis in an article for Forbes. “Success typically takes six to seven years — if you survive the first three.”
Entrepreneurship Comes From Within: Being your own boss may sound great, but you’ll have to wear many hats on your road to success. From learning to code to becoming a proper salesman – you’ll be on top of many things at once.
You Don’t Have to Do it All Yourself: Don’t be afraid to outsource some things that other companies will be doing better and cheaper in order to make your company’s product better.
Funding is Hard Work: Securing funding from any source is a true challenge, and entrepreneurs today are further into debt than any other generation.
Ultimately, starting your own business can be one of the most rewarding things you can do in life. But be prepared to face the risks, uncertainty, and high probability of failure when you jump in, especially at a young age. Make no mistake – there is no such things as overnight success: it takes years of extreme persistence and refining your business in order to achieve success; be prepared for the challenges ahead.