Statistics show that 9 out of 10 startups fail within a few years of launching, with about 10% failing in their first year alone. However, starting a startup isn’t a death sentence; some quickly become extremely successful.
In this blog post, we’ll discuss which questions to ask in a startup job interview to find a company poised for success and where you can grow professionally.
- What challenges has the company faced and how have these been addressed?
- Does the project have a roadmap, and is it being adhered to?
- Have you launched startups before?
- What is the startup’s runway?
- Does the startup have a brand presence in the market?
- How is hierarchy structured in the company?
- How long has the company existed?
- Does the startup have investors?
- What is the project’s monetization system?
- How often are meetings/calls held?
- How do you feel about overtime?
- What backgrounds do my future colleagues/team members have?
If financial stability is your primary concern, consider asking:
What challenges has the company faced and how have these been addressed?
This question helps uncover two things:
- How the company handles problems (whether they solve them promptly or procrastinate).
- The scale of issues typically encountered at work.
- What stage is the project in? Has it reached profitability, or when is it expected to do so?
Find out if the project has reached a break-even point. If not, inquire about the plans to achieve this goal and the expected timeline.
Understanding the project’s financial position will help you gauge the risks and opportunities associated with your potential involvement.
Does the project have a roadmap, and is it being adhered to?
What are your goals for the next 3-6-12 months?
It’s understood that circumstances can vary, and not everything goes according to plan (especially in unstable economic times).
Still, the team should have a general vision for the project’s future.
Have you launched startups before?
*This is a question if you’re interviewing with the founder.
Ideally, the startup you’re joining shouldn’t be the founder’s first business.
It’s also beneficial if the CEO has some experience building businesses from scratch, especially tech startups. Otherwise, the company statistically has little chance of success.
What is the startup’s runway?
Runway refers to how many months the startup can continue operating at its current level of expenses and revenue — a financial cushion, so to speak.
Does the startup have a brand presence in the market?
If so, how is it established?
After working at a well-known or recognizable startup, it will be easier for you to find a new job if things don’t work out at the current one.
Many might think, “What brand presence does a startup have? It’s a STARTUP! It can’t be recognizable by definition!”
However, this isn’t entirely true, as some newcomers begin building their image/reputation/brand from the start of their commercial activity, increasing their chances of success and opportunities for you if you join one of them.
How is hierarchy structured in the company?
How are decisions made?
If a startup with 5-10-15 employees has a rigid hierarchy, and all proposals take weeks to be approved, then it’s clear that nothing good can be expected from such a setup.
How long has the company existed?
The longer a company has been around, the more likely its organizational processes are optimized, meaning it won’t “die” three months after you join.
Still, it’s probably not a good idea to join a brand-new startup, say, one that is only three days old, unless you’re prepared for temporary difficulties and financial instability in the coming years.
A 2-3 years startup likely has a well-developed business plan and stable growth and development opportunities.
Does the startup have investors?
If so, who are they, and how do they influence decision-making?
Clarify the extent of the investors’ involvement in the project and their influence on strategic and operational decisions.
Understanding their impact will help you align your actions and decisions with the investors’ interests.
And most importantly, determine if you would be comfortable working under potentially high pressure if they are actively involved and making key decisions.
What is the project’s monetization system?
How are new users attracted?
This is a very important question for a young business/startup.
It’s beneficial if the founder and team have thoroughly planned and devised multiple monetization strategies. However, if the project only has one monetization method, you might want to reconsider accepting an offer from such a startup.
What to ask if you are more interested in mental comfort:
How often are meetings/calls held?
Both frequent and infrequent calls are a normal part of the work process. However, the real issue is how well the established team communication methods align with your willingness to participate.
Consider the offer carefully if, on average, you’re expected to participate in four to five calls daily, as constant conversations might leave you feeling stressed or drained.
How do you feel about overtime?
This question is usually posed to candidates, but employers should also address it.
Asking about overtime can serve two purposes:
- Determine if overtime occurs and how frequently it happens (how heavy the workload might be on your shoulders).
- Understand the founder’s views and whether he cares about employees and promotes a culture of mutual respect.
Overtime is common in startups, so asking if it occurs is pointless—they’re unlikely to answer honestly.
However, attitudes toward overtime can reveal much about the team’s climate and the prevailing views.
What backgrounds do my future colleagues/team members have?
When working in a small team and closely interacting with others, they must have good communication skills and the ability to find common ground with colleagues and share similar views.
Therefore, learning about your potential colleagues and their views on important topics is crucial.
You might also inquire about their general backgrounds, such as whether they have experience working in startups or have had their own projects.
