Tiger Buford outlines seven reasons orthopedic professionals should join early-stage companies: accelerated responsibility, rapid opportunities, exposure to new technology, equity ownership, transparency, favorable exit scenarios whether the startup succeeds or fails, and skills and networks that stick regardless of outcome.
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Brought to you by Tiger Buford. Hello, my orthopedic friends. Welcome to Inside Orthopedics. My name is Tiger. I am an orthopedic industry insider and retained recruiter for early-stage orthopedic companies. Thanks for listening. This is episode number 17, titled The 7 Benefits of Working Inside a Startup. This one's for my orthopedic friends who think they might want to work inside a startup, but they really don't understand the upside. So I'm going to tell you in detail. Well, let's start with this. I know startups. I've worked inside 3 startups myself. Many of my friends are now running startups. I've interviewed successful startup leaders on Orthostreams, and I do retained recruiting for startups. The work inside a startup is challenging, and on top of that, there's a sense of urgency. There are very high expectations. The funding is finite. There's very few resources to fall back on, and it's just plain hard work. But there's a reason why many professionals in orthopedics really yearn to work inside a startup. And if you have the right stuff, a move to a startup can literally change the trajectory of your career. So, with that backdrop, let's dive into the specifics. Let's look at 7 benefits of working inside an orthopedic startup. Benefit number 1 is experience. You will be given more responsibility, period. You will gain experience, and my rule of thumb is 3 times faster at at a startup. Your projects are completed faster. You will work way outside your job description. You will be pushed outside your comfort zone. You will actually learn more about yourself in doing that, and you will become exposed to functions and areas of the business that are off-limits inside a big company. Heck, you can even eat lunch with the CEO. So all of these experiences will supercharge your resume for the future. Benefit number 2, opportunities. You will be given more opportunities. It's that simple. Look around and there just aren't enough people to do all this work. So you will be given new opportunities way faster than in a big company. where you have to wait in line for years to be ready for the next step. Just raise your hand and you can grab more responsibility pretty quickly in a startup. Benefit number 3, innovation. You will work on innovative technology. Startups are led by entrepreneurs who just have a different mindset. They enjoy challenging the status quo. Every clinical problem that they see is an opportunity for innovation. Then during the execution phase, they approach challenges differently because they have to squeeze the most results out of the least amount of time. So you will have the opportunity to learn from these innovators every single day, and believe me, it rubs off on you. Benefit number 4, ownership. You will own your work at a startup and you will make a difference every day. I like to say that you matter in a startup. Your work matters. You can affect the success of a company yourself. And this is very satisfying and you may— maybe actually the number one benefit of working inside a startup. And then on the other ownership side, financially, You will actually own part of the company, and the stock ownership can go a long way in a startup. The earlier you arrive in a startup when the risk is greater, the higher percentage of the company that you will own. So that's ownership. Benefit number 5, transparency. You will know what's going on inside the company in real time. It's a small office. Everyone knows what everyone's doing. If you do good work, it's recognized immediately. If you screw up, it's recognized immediately. This transparency is very motivating. You can get great praise for good work, and you can try like hell to eliminate mistakes in order to avoid disappointing your colleagues. Another benefit of this transparency will also protect you from, from being blindsided by bad business conditions. You will see the issues that the company faces firsthand, and you can leave on your own terms rather than getting surprised by a reduction in force like we always see in the big companies. Benefit number 6, exit. If your startup succeeds, such as getting acquired IPO or hypergrowth, then you are a rock star. You will likely have a financial windfall and you will forever be associated with a winner. You can choose your next career move on your own terms. If your startup fails, then you have acquired all the benefits listed above and you have actually more career options Because you have taken the startup adventure. And finally, benefit number 7, little downside. Working in a startup, you get to do the work that you enjoy for long hours, and you have the potential of making lots of money. Even if the startup doesn't make a zillion dollars, you have gained valuable experience that will pay dividends Your whole career. In short, the experience has shown there's really no downside to the startup experience. So that's it. That's how I see the 7 benefits of working inside a startup. Don't forget to subscribe, and you can always follow me at tigerbuford.com. Be safe out there.
