Big Business vs. Scale-Up
6 Things You’ll Learn from Switching to a Scale-Up
In a scale-up, it is difficult to hide. I often use the analogy that it can feel like building a plane already in the air. It’s brisk, it’s refreshing, you never quite know what you’re going to find, and it can be difficult to hide. You learn quick and fast from day one. It can be an incredibly exciting time watching a company grow from nothing to something. Every milestone, whether big or small has huge importance. I began my career in let’s call them ‘big companies’’ which gave me a fantastic grounding in helping me to uncover the wonder of scale-up. Let me share with you what I believe you’ll learn by making the switch from a big company, to a tech scale-up like N26.
Multi-task
One of the first things I realized was just how much hands-on implementation there was. You have to be able to one-minute drive high-level strategy and then the next minute execute. Where previously there were teams dedicated to implementing strategy or execution, there could just be you at the start. You have to adapt, you’ll be stretched and tested, but your character and perspective will be developed fast. For me, the uncertainty and excitement of working in an area that no one has explored before are inspiring. Again, it can be daunting, but the challenge and direct impact you have will completely outweigh any of this.
Trust Your Instincts
Your opinion matters in a scale-up. You’ll learn quickly that you have the freedom to speak up. It doesn’t matter what level you are or where you are in the business your perspective can often spark the incredible. This was a big change for me coming from a big business where you often have to crawl through layers just to be heard. It also fits me, typically Dutch: not hindered by hierarchy or a fear of speaking up, very well. You have to trust in yourself and just go with it.
Get Uncomfortable
Working in a scale-up, you have to lean in and not be afraid to try new things and tackle things head on. You’ll often be working in an area that hasn’t been explored before, and this can be ambiguous. Everyone is constantly learning, and you must realize that everyone else is also in the same boat, you’re in it together. Constant open feedback with your teams and peers is one of the keys to success here. It can feel like tough love sometimes, but it gets you directly to the point and grows you both professionally and personally. The journey is rarely plain sailing, but it is so rewarding when you see the direct impact you’re all having.
You’ll Wear Many Hats
You’ll learn quickly just how many hats you have to wear. There are very few structures set in place. Rules are being broken, and legacy is being ripped up and reinvented. If you’re used to a very structured set-up, it can initially be tough to adjust to a company without defined systems or processes. For me, that is the magic of a scale-up; there’s no legacy. This might drive you crazy if you like structure and when things are done in a clearly defined way. A scale-up is new, and the processes need to be defined. If you have the vision, you can be the person responsible for shaping the company at that point in time.
Take Failure in Your Stride
You have to be comfortable with the freedom to try new things out and just go with it. Nothing will ever be overly defined or shielded by lines of hierarchy. This fosters an environment of growth for you, and you’ll always be encouraged to try new things. Big businesses are often focused on reacting and pleasing shareholders. With scale-ups, it’s about continually innovating, trying things, failing, picking yourself up, and starting again. There is no room for perfectionism. Tradeoffs and failure are at the core of your success.
And one last thing… you’ll realize you haven’t looked at your watch, once.
Written by Noor van Boven, Chief People Officer at N26.
Interested in joining one of our teams as we grow?
If you’d like to join us on the journey of building the mobile bank the world loves to use have a look at some of our open roles here.
