Making the leap from corporate to start-up: Tips for determining if the move may be right for you.

I spend a lot of my working day speaking to candidates about what it's like working at INSHUR and quite often those conversations are with people who are new to startup environments. This got me thinking! As someone who went from a large corporation to a start-up here's what it's really like...

So to begin…?

Is the move from corporate to start-up the right one for you??

I spoke to lots of people over the last 18 months and for some, the pandemic provided time and space to step back, and look at their careers to ask themselves “Is this what I want to keep doing?”. Time is precious and your job takes up a lot of it. So, if you’re considering making the leap from a role within a large corporate firm to a start-up – either your own or someone else’s – now could be the moment to do just that!

Trust me, I know It’s not a step to be taken lightly; there are absolutely pros and cons and much will depend on you as an individual, how you work and what you’re comfortable with.?

Here I’ll go through the top three reasons you may want to make the move from corporate to start-up.?

Structure

This is perhaps the most obvious difference: corporates tend to be large, with set and formal structures. Start-ups in contrast are generally smaller, more agile and, crucially, built for purpose. Without the burden of several decades (or more) of legacy processes, start-ups can operate in the here and now, with a keen eye on the future. Inherent in that is a stripping away of formality with flatter structures and the leadership team are often both more accessible and involved in the day-to-day running of things.?

Together that can create the opportunity for input into the functioning and even direction of the company, if you have the appetite or desire to drive (or at least participate!), rather than being directed. It can also mean near-constant change as the start-up rapidly evolves to meet developing goals and market conditions. The exciting thing is that your role may soon be quite different from the one you were hired for. As you, and the business, grow and evolve you may find yourself taking on various responsibilities that you may not have the opportunity to do in a larger organisation where roles are narrower. If you’re comfortable with this fluidity and the idea of a defined role with defined objectives and a defined career path doesn’t really float your boat, you could open up all manner of possibilities in a start-up.?

Our Casualty Claims Manager, Josephine Adams, shared with me her perspective on making the move,

“Coming to work for a startup was not an easy decision for me as I knew very little about startups.? After doing some research, I was sold! I wanted to work with a company that gave me flexibility, allowed me to have more ownership, and be a contributing part of the company’s growth.? I realised that this was the time in my life to make a change and INSHUR was the company to do it with.”

Smaller team, bigger responsibilities (sometimes)

Corporate structures are usually formed of a great many teams, each with their own set function and sitting within defined departments. These divisions, combined with the sheer size of some firms, can mean some teams have no idea what others are working on. That can lead to duplication of effort or missed opportunities to collaborate for the greater good. Start-ups tend to have a more open approach and a more collaborative mindset with people from different functions working closely together.??

In a start-up team, there is usually a strong sense of being part of a close-knit team, contributing to the greater good. Start-ups can also be highly demanding of the individual. The normal expectation is that you stand on your own two feet from day one. You can expect to be judged on your own work and often you won't be able to hideaway. The shift from delegating to being solely responsible for fulfillment may be difficult for some, but for many, it's far more rewarding too. If you need or want something done you have to make it happen and you have the power to champion it. At the broader level, no one is above any task in a small firm, which could prove challenging for those too attached to a set title or role. You may be the CEO, but you may also find yourself building office furniture or running out for toilet rolls, everyone mucks in!.??

You get out what you put in??

For some, the overall financial security offered by a long-established corporate setting can be attractive and difficult to walk away from. However, with start-ups, you may find that less tangible benefits help to compensate, such as more opportunities for growth, flexible working, or a more relaxed attitude to working at home. Closer relationships with those around you can make the workplace feel more authentic and comfortable. Plus, huge potential to learn and to help others develop in turn.?

Reflecting on her decision to make the move, Josephine, Casualty Claims Manager at INSHUR, shares,

“Since my transition, it has been nothing but an amazing experience. From the beginning, I had to wear many different “hats” but that has taught me so much about the industry and the company itself. At INSHUR, you are not a “title” but rather a person. Your opinions are wanted, and they are heavily valued, and as employees your needs always come first. I look forward to growing with the company and all the new adventures that come along with it.”

...and I absolutely agree with Josephine!

Weighing it all up?

Moving from a corporate setting to a start-up will always mean some risk and isn't for everyone. But if you can keep an open mind, be flexible and take a long-term view, you may find yourself sharing a challenging, but ultimately rewarding, experience with a small group of fellow trailblazers. You can form bonds that endure throughout your career, while the personal and professional investment you make can offer a deep sense of ownership in the business and its future path.

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