A fintech start-up is pretty much the bottom end of the spectrum of the corporate world. It is more of working hard rather than playing hard. The pressure is extremely high to deliver results to meet the huge expectations of the investors. Having said that Start-ups do have its perks and that attract entrepreneurs with very unique characteristics.
Your work has a direct impact on company’s growth
Working for a fintech start-up means you are working within a very small team, and your skill set could be different from anyone else in the team. This means you are very likely to be fully responsible for a particular function of the business, be it sales, marketing, operations or product development. The entire company is relying on you to excel in your role, with little or no. Such an environment propels you to grow at a much faster pace, learning much more than you would ever do within the same amount of time in the corporate world.
Exposures to various business areas
I have worked in many large corporations for many years and one thing that always spurs me to move on to a different job is the lack of variety in the job. You are expected and required to be the expert in field within your skills set.
With fintech start-up, everyone in the company has an opportunity to branch out into a different area of the business, whether it is number crunching, designing work, UX/UI, formulating marketing strategies, you name it. It is great for people who want to be challenged all the time and be always out of their comfort zone. Very often Start-ups require you to be the jack-of-all-trades to get the business going.
Fintech start-up has no established ways of doing things, there is no established standard operating procedures and no secret recipe for success, everything is done through trial and error. But it gives more opportunities for employees to try different things in a ‘structured way’ without being penalised. This means, people who want to be part of Start-ups need to be comfortable in an environment where there is less supervision and guidance. The employee will frequently have to respond on his own to questions such as ‘how would I do it? What are my thoughts on this? How can we make it better? Is there a better way?’ Such situations present real opportunities for team members to apply all their knowledge and make a difference.
You also really need to be comfortable with changes. The upside of a Start-up is that the company’s decision making process is swift and thus its direction or strategy can change a lot faster than in corporations.
Shaping the culture
Every member in the Start-up will inadvertently shape the culture of the company. You will directly contribute to the creation and growth of the business culture. This includes how the company operates, social interaction within the organisation and even company brand image.
The rewards in working in fintech start-up
Working for fintech start-up can be very satisfying and rewarding. When the Start-up is successful its growth is often exponential. Being a pioneer team member you can expect to be handsomely rewarded like promotion to Head of Function, Directorship and even share options.
What if the Start-up fails? Will you have worked for nothing? Definitely not so. You would have gained so much experience and insight into business dealings that you will stand out amongst your peers and be miles ahead of them.
Are you ready to join a Fintech Start-up? Are you prepared for a gruelling working pace and reap the handsome rewards? Only you can make the decision!