During the month of September we officially launched our international operations, not only by gaining some of our first international customers, but also by starting to recruit international talent. With this in mind we will start publishing blogs, both in English and Swedish, which will be steered towards our future international customers and employees. This first one will discuss why it's ideal to join the Vainu-journey right now.
The 21st century has seen a booming number of new businesses and according to figures over 100 million new businesses are annually launched globally. This roughly translates to just over three new businesses every second. From such a large mass some end up walking the red carpet towards massive success, but most end up crashing down faster than it took for the business to get going. Over 90% of all startups fail and the mean reason for failure seems to be a lack of market need for the intended product or service. In the light of these figures, how can one know whether a startup will fail or succeed, and whether one should take the risk in joining a startup as an employee?
“During our first year we have been able to prove our business concept over 200 times in Finland”
As mentioned, the main determinant for success is a product/market fit. I believe Vainu has found this fit, at least locally here in Finland. During our first year we have been able to prove our business concept over 200 times in Finland, and we have also taken our first steps towards internationalization by gaining our first customers in Sweden.
Getting in early
But there is more to a successful startup than just having the ability to sell a product or service. There needs to be a sign of incremental growth on a monthly and yearly basis to truly have a clear understanding of whether business will fail or have a chance to succeed. In the SaaS-industry a "get in early company" can be thought of as one that has an annual recurring revenue of $1M-$10M and growing 10% month-on-month. After our first year of operation, Vainu is very close to hitting these values. But one of the best things about joining a startup is getting in when the company size in terms of employees is still relatively small - being under a 3-digit number is considered to be ideal. Getting into a startup at this point can provide you with the opportunity of seeing and experiencing growth and success in financial terms, but what else does a successful startup provide?
“Having responsibility from day 1 provides you with the opportunity to have noticeable impact on the business.”
An exciting entrepreneurial lifestyle with measureable results is probably one aspect that most people look for when joining a startup. Most employees have concrete measureable goals and business related KPI’s are transparent. Having responsibility from day 1 provides you with the opportunity to have noticeable impact on the business. This is something you would not normally enjoy at a corporate job.
Startups are usually made up of a young energetic team that is ready to work together towards success. They are a great community for learning new things everyday and you have the opportunity to work closely with, and observe how the top management functions. Feedback is instant and concrete. Startups are about salesmanship and customer meetings. They are about recruiting and marketing. But they are also about financial management and product development - ideas can be turned into live features in a matter of days, sometimes even hours.
If you are interested in startups, there couldn’t be a better time than now to join Vainu. With a proven product/market fit, driven and skilled team, as well as a fun and exciting working culture, Vainu seems to offer everything that is great about being in a startup. All in all, joining a startup is a reality that's actually really quite difficult to imagine before you take that first step, jump in, and experience it for yourself.