Joining an early company.
WHAT THEY OFFER
Broad responsibility Rapid learning Influence Equity, potentially
WHAT THEY COST
Lower salary, frequently Uncertainty Long hours, in many cases High probability of failure
WHAT TO ESTABLISH
How long the money lasts What revenue exists Who the investors are, if any What the plan is
WHY RUNWAY MATTERS MOST
It determines whether the job exists next year.
WHAT TO ASK DIRECTLY
How many months of funding remain.
WHY ASK
Founders who will not answer are telling you something.
WHAT TO ASSESS ABOUT THE FOUNDERS
Whether they have relevant experience Whether they are honest about difficulties Whether people who worked with them would again
WHAT TO ASSESS ABOUT THE PRODUCT
Whether anyone pays for it Whether customers use it repeatedly
WHY THAT SECOND POINT
Signups without use indicates nothing.
WHAT TO VALUE THE EQUITY AT
Something well below what is implied.
WHY
Most early companies fail, and preferences reduce common shares further.
WHAT TO NEGOTIATE
Salary you can live on, regardless of equity.
WHAT TO RECOGNISE
That the experience can be worth the risk, early in a career.
WHAT TO BE CAREFUL WITH
Accepting substantially below market on promises.
