Workable Presentation at TechStartupJobs Fair London 2014
Download as PPTX, PDF2 likes778 views
The document discusses the considerations for employees when recruiting or joining a startup, emphasizing that startup jobs are investments which come with equity and below-market salaries. Key factors to evaluate include the startup's product viability, market demand, business model, team quality, funding status, workplace culture, and due diligence practices. The document also promotes Workable as a recruitment tool for startups and fast-growing companies.
Workable Presentation at TechStartupJobs Fair London 2014
- 1. Startup employee Recruitment software – B2B SaaS Fast-growing co’s in 87 countries Startup recruiter Hiring for fast-growth technology companies (Mind Candy, Wonga, Google, eBay) @_roblong
- 2. VC for a day picking a startup to work for
- 3. Startup jobs are investments The job - Seed stage startup (<$1m raised) - 0.5% equity with 3-year vesting - $20k below market salary
- 4. Startup jobs are investments Should you invest? - $60k for 0.25% at exit (assume 3 rounds of 25% dilution) - $150m exit for a 6x return in 5-8yrs (to match the risk profile) - ..and that would be a good scenario!
- 5. Think like a VC Expect high levels of transparency Evaluate the business fundamentals Do your own research Accept uncertainty, embrace risk Don’t throw dice, make a calculated bet
- 6. Product Is the product solving a real problem? Is it good / better than the alternatives? What’s the competition? What do people use now?
- 7. Market Who wants this product and how badly? How much are they willing to pay? How easy it is to reach them? What’s the addressable market size?
- 8. Business Model How will the company make money? What’s the lifetime value of customers? What’s the customer acquisition cost? Can the company build cost-effective and scalable distribution channels? Check metrics vs industry benchmarks
- 9. Team Startups are accelerated learning. But you only learn if you work alongside great / smart / cooperative people You’re betting your career on the ability of the founders to achieve a rare success This should be 80% of your decision
- 10. Financing Is it well-funded? Check history and ask for future financing plans Ask for burn rate, run rate, runway What milestones/achievements will be needed to achieve next funding or profit Ask VCs or angel investors for feedback
- 11. Work life Workplace culture is more than free pizza Learning and training opportunities Work practices, tools, methodologies Work ethic – startups are hard work but beware of management by heroics
- 12. Due Diligence Ask for references Ask to speak to employees or investors Get feedback from friendly investors or entrepreneurs Google founders, employees Ask customers
- 13. Be diligent, NOT paranoid Startups are messy and risky. Don’t expect everything to add up 100% If it doesn’t feel a bit risky, you came late Do it before 30 if you can If it fails, it’s not the end of the world
- 14. Are you hiring? Workable is a beautifully simple recruitment tool for startups and fast- growing companies. Try it out at www.workable.com