Ask these 4 questions before accepting a job offer
"I decided to look for a new job last month. Now that I've started taking interviews, I hear layoffs everywhere. What should I do?"
Layoffs are scary, but many tech companies are hiring normally. So here are a few questions to ask in interviews before accepting an offer:
1. "Is Your Company Profitable?"
If the company is profitable, it means there's little dependency on venture funding (or none at all). That is a very good position to be, now that VCs are not investing as before.
If they don't depend on VCs, then the company will have the capacity to meet expenses now or later as you keep working there.
2. "What’s Your Runway?"
Runway means the number of months a company has left until their money runs out. This is basically a great question to ask companies that are not yet profitable.
If the company is not profitable, it means they depend on VC funding. As the company is not profitable, that money will be burned and the company will need to raise more.
18+ months of runway is good. And 24+ is ideal.
3. "What’s Your Roadmap for the Coming Months?"
Through this question, you should get visibility into product roadmap and hiring plans.
A product roadmap that sounds "experimental" means the company is pre-"Product Market Fit". If such company has aggressive hiring plans, that's a risky bet for you!
4. "What Projects Will I Work on if I Join?"
Here, you should look mainly for exciting and growth factors. However, it's best if you'll work in projects that index to the company's main revenue streams. Working on lateral projects means your team is non-core for the business.
Conclusion
When joining a new company, it is only right for employees to ask questions to ensure themselves a healthy employment opportunities. Since layoffs can impact you really badly, it's important to make sure your future with a company is secure.
With these question, you'll get a better understanding of what sort of position a company is in and whether they have the resources to strive for years to come.
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