Get, Startup, Go!

Be it global players such as Uber, Snapchat, Xiomi, or the Indian giants like urbanladder, justdial, or bigbasket, startups are emerging everywhere and are fast becoming the preferred choice of many students post their management education. Many even consider starting their own ventures, but often postpone the plan for a more appropriate time after gathering experience and funding. The success of MBA students is no more being defined by their placements – the organization they join, the job they land and the salary they secure.

Start up syndrome

However, one must note that start up jobs, lucrative or not, come with their own shades of gray. Hence, the decision to join the start up should be governed by serious thought and a calm mind. At FIIB, we take this space seriously, and encourage our students to ask these questions before joining the start up wagon:

1) Who are the Founders?

No start ups are famous. But if the founders are experienced, enthusiastic, energetic and passionate, then the startup has a promising future. The founders are the brand managers of the company, and their credibility should be kept into consideration while evaluating the offer.

2) Can I handle the pressure?

Today, start ups are in a hurry to raise as many funds as possible, innovate in every way and make their venture profitable. The investors on the other hand, are looking at expanding, creating milestones and then exiting. This unstable yet exciting environment can be a great learning opportunity for young MBA graduates, provided one can handle the pressure.

3) Am I open to learning?

If you are not open to learning and experimenting, failing and getting up again, then start up culture can be disappointing. Start ups are in an exploratory phase right now, where they are making mistakes, learning from it and then succeeding. They expect employees to internalize this work culture and participate. If you can put your knowledge to action, learn from the outcome and perform more, then there will be no limit to growth and learning.

4) Can I look beyond money?

Start ups will pay you well, no doubt. But can you look beyond the offer? If yes, do not let go of a start up job! Like everything else, passion and commitment can drive one to great heights even in a start up. The growth potential is definitely more than what a structured organization can provide. However, the culture is demanding and different from the conventional offers, hence students often find themselves confused in the first few weeks of such placements.

At FIIB, we have structured our industry preparedness course through career management cell (CMC) in a way that the students can be ready for exciting professional careers with start ups. For example, we encourage our students to take up live projects at the start ups in order to work closely in the environment, learn from the exposure and be prepared for a long term association with the culture. We also invite founders of various start ups to come and interact with our students, and give them an insight into what start up culture is. Such industry preparedness sessions make our students better equipped to take such decisions.

Several successful ventures like HealthKart and Zomato have been hiring from FIIB since their start-up days. These relationships have been nurtured knowing that the students are not only likely to benefit from the placement, but also have promising future. More recent startups such as Grofers, ScoopWhoop, and Moglix have also become regular hirers at FIIB, and our students have shared some excellent experience at these companies.

It is advised that MBA graduates should be open to working with start ups, but after fairly assessing the situation and asking the right questions, and the college/institute must play a crucial role to facilitate such decisions.