Ten questions you must ask before joining a Startup!
During the interview, a lot of candidates want to ask a few questions to the recruiter. They may be regarding the operations of the company, their marketing strategies or even their bank balance! Although, out of hesitance, they avoid asking such questions. They think it might be ‘inappropriate’ to do that. But, they fail to realize that it’s so important to know everything about the start-up that they wish to join. So Yes! It is OK to ask a few questions in an interview. No ask, No Get!So, we have prepared a list of 10 Questions that a candidate can ask before joining the start-up.
1. What makes you different from the competitors?
Now, this question will reveal the mindset of the entrepreneur. Ask him the USP of the start-up or ask him the differentiating factor regarding their product and services. This will give a clear picture in your head regarding the core values of the startup.
2. What is your Bank Balance?
Ask this question without any reluctance. You are going to work there and you have full right to know their financial status. And beware, if you get a response like- ” We’re in talks with a few investors.” or “Our debtors will pay us soon.”. A healthy bank balance is a good indicator!
3. What is your Net Outflow per month?
The answer to this question will give you a clear picture about the financial status of the company. It would be a wise choice for you to step back, if the answers to the 2nd and 3rd questions are not positive. You don’t want to in a financially unstable company.
4. Who are the investors?
There may be a few Venture Capitalist. It’s always good to ask to about the investors and their background. And even if the founders plan to bootstrap the startup, then it is a good sign. It shows their confidence in the project. Revenue is, anyways, a good source of capital.
5. Tell me about your Board of Directors.
Ideally, there should be a few outsiders in the Board of Directors team. You should beware, if the board only has founders or family members. Outsiders, usually, have different opinions than the Founders; Some disagreement is healthy for the startup.
6. What will be my role in the company?
It is good to ask about the specifications of the job that you will be doing. The Job might turn out to be something that you are not looking for. It is always preferable to get all the job-related queries clear. And, it is OK to say no in case the role that you’ll be assigned is not in sync with what you’re looking for.
7. What is the vision of your startup?
The startup that you’re working in should have people with strong values and ethics. So, the answer to this question will make things clear. If the answer is- “To be the number 1 player in the region or city”, You can be assured about its long-term vision.
8. Will I have mentors?
“Yes, We work like a family and you will be provided appropriate guidance whenever needed”, Such reply should give you some relief regarding the personal management of the company. It is always good to work in a place that, with pleasure, provides you a helping hand.
9. How has the journey been so far?
A business that shows momentum provides great opportunities for growth. So, you definitely should ask this question before joining. A fast growing company is an ideal place to work, and it will help you learn and grow more.
10. Tell something about your future plans.
Every startup should have clear monthly, quarter, and annual goals. The Goals and Targets will tell you everything about its efficacy. Also, you can ask about some past goals that were duly met.
Are you asking these questions? Share your comments below.