A sportscaster I know is facing a tough decision and needs to know how to evaluate the merits of a high-risk high-reward job opportunity.
Here’s what he told me about the job:
“A startup company in my home state is offering me play-by-play for high school games on social media platforms and the possibility of my own show. There is also the possibility of broadcasting college football and basketball. They’re offering $14,000 more than I currently make and they tell me they have financial backers. The ability to do play-by-play for college sports is really interesting to me but I’m nervous about joining a startup.”
There are three important considerations when you’re evaluating job opportunities . . .
1. Beware of startups
Be leery even of startups that look ultra promising or can’t miss. Years ago I joined a startup called The Football Network. It was all football, all of the time – before even the NFL Network. I was so confident in their chances for long-term success that my wife and I bought stock and encouraged our friends to do the same.
We all lost money. The Football Network ran out of money five months after going on the air.
Beware of startups.
2. Beware of “possibilities”
In the example of our friend considering returning to his home state, there is the possibility he will get to do college football and the possibility he will get to do college basketball.
Never make career decisions based on possibilities and maybes. They mostly never come to fruition because if the company were capable of pulling them off, they would have done so at startup.
3. Ask about funding
When considering joining a startup, ask where the money is coming from that will pay your salary. If it’s from advance sales of advertising — outstanding. However, if it’s from startup funds, that money is going to run out and the chance they are going to be able to continue paying you evaporates.
If you are still excited about a job after removing the maybes, the possibilities and the hope to’s from the equation, then it is certainly worth considering.