Big Corporations v. Small Startups v. Entrepreneurship
We discussed the benefits and downfalls of working in a small company like a startup versus the benefits and struggles of working a large corporation. Entrepreneurship is another route that some people may choose to go and that also has its own challenges.
- Great job security. Unlike startups a large corporation won’t go bankrupt overnight so you should have warning before layoffs.
- Many management positions. With large businesses comes large bureaucracy so more management.
- Job Benefits. Many companies offer health insurance, 401k matching and other benefits to employees.
- Mentorship. Many people have worked there awhile and would be happy to help. Many big companies have mentorship programs explicitly implemented.
- The large bureaucracy and many people will make it much harder to get your ideas heard.
- A more family-like dynamic where everyone gets their voices head.
- More open to new ideas due to less bureaucracy to slow everything down.
- You have a bigger impact on the whole organization. You are one of some as opposed to one of many.
- Less stable, not as financially secure, could collapse overnight in the case of a startup.
- Of course it’s exciting striking out and starting a business of your very own.
- High risk which could entail little to no pay for a long time.
- No work life balance. You are married to your startup company, your company is your life, and it will be that way for awhile.
- Probability of failure. You could lose it all and your business will tank; you’ll lose time and money.