What a Director of Strategic Partnerships at Fintech Climate Startup wishes they had known before entering the Startup Industry
Rebecca, a Director of Strategic Partnerships at a Fintech Climate Start-up, wishes someone had explained the realities of startups before joining the industry; the experience involves a lot of "marketing, a lot of talk," and often a gap between perception and reality regarding company progress, highlighting the importance of asking informed questions about aspects like pricing models and the founder's long-term vision—for example, "do you wanna take this public? Um, or are you looking to sell it?"—to truly understand the company's values and direction.
Startups, Strategic Partnerships, Fintech, Leadership in a Startup Environment, Question Asking and Information Gathering
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Rebecca Saletta
Director of Strategic Partnerships
Fintech Climate Start-up
UCLA
N/a
Communications
Climate, Environment, Sustainability & Waste Management, Finance (Banking, Fintech, Investing)
Business Strategy
None Applicable
Video Highlights
1. The reality of working in startups: It's crucial to understand that startup environments often involve a lot of marketing and discussion, which can sometimes oversell the company's progress. It's important to ask informed questions to gauge the company's actual stage of development and capabilities.
2. The importance of understanding the founder's vision: In startups, the founder's motivations and long-term goals (such as taking the company public or selling it) significantly impact the company's trajectory. Early on, it's beneficial to understand the founder's vision and values.
3. The value of asking clarifying questions: Before joining a startup, especially as an early employee, it's essential to ask clarifying questions about the company's progress, pricing models, and other critical aspects to manage expectations and ensure alignment with your career goals. Don't assume you know what to ask; actively seek information and clarification to avoid surprises.
Transcript
What have you learned about this role that you wish someone had told you before you entered the industry?
Something I wish I would have known about startups is that there's always a lot of talk. When people mention startups, there's this general excitement, but I didn't truly understand what that meant until I joined one.
It's frustrating because if you're interested in startups, you really have to try it for yourself to see if it's a good fit. When I joined my company, I realized there was a lot of marketing and talk, which is normal for startups. It’s easy to get caught up in it.
I learned it's important to understand what the company can realistically do and where it stands. I thought we were further along than we were. We still needed to achieve certain goals. Asking informed questions early on is crucial, but I didn't even know what to ask.
I didn't know to ask if we had a pricing model ready because I was just focused on building something. These are things you learn by doing. No one can give you a complete checklist.
One question I'm glad I asked the founder was about their long-term plans: "Do you want to take this public, or are you looking to sell it?" Understanding a founder's motivations is so important in the startup industry.
We can be drawn to the technology, which is cool, but startups are fundamentally a reflection of the founder. Understanding them and how they operate is key. As the company grew, I saw how he made decisions.
These are the kinds of questions I wish I had asked more creatively early on. I also wish I had figured out the company's values and direction in different ways. As the first US employee, I wanted to understand how much had already been accomplished.
If not much had been done, I could have been prepared. Instead, we didn't always know the right questions to ask because we hadn't done it before.