Startups Share your startup - December 2017 |
- Share your startup - December 2017
- We are a panel of Venture Capitalists who specialize in Healthcare Innovation AUA! (x-post from /r/IAmA)
- Struggling a bit with deciding a reasonable equity proposal for a potential new cofounder.
- Did You Consider These Three Factors Before Choosing Your Business Name?
- Wanna-be Partner misfit?
- What am I agreeing to here?
- Help finding another co-founder
| Share your startup - December 2017 Posted: 01 Dec 2017 03:09 AM PST Tell us about your startup! /r/startups wants to hear what you're working on! Contest mode is on, so remember to select 'Show All' to see all the replies. If you don't see your post, you probably need to load more comments at the bottom. Also, all posts are sorted randomly, so the sort function doesn't seem to work.
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| Posted: 01 Dec 2017 01:26 PM PST |
| Struggling a bit with deciding a reasonable equity proposal for a potential new cofounder. Posted: 01 Dec 2017 05:26 PM PST I've been working on creating a startup for the past 11 months. It's gone a bit slower than I wanted, but I believe lot of that is due to me carrying all the weight. Originally wanted to launch in Jan/2018 but thinking now it will be more like summer. Recently met with a potential cofounder that seems eager to join me in my startup, however I'm unsure at this point what is deemed a fair share of equity. Some things I've gathered so far:
There may be other factors I'm not aware of yet, and there's the possibly of another cofounder or initial team for giving out more equity on top of possibility of a VC, so with that not entirely sure what I should ballpark say what I think is adequate. I should note I did have a backend developer/cofounder early on that had to abandon the project due to outside issues, but at that time we had agreed to 25%; this late in the game I feel like they should get less. Any insight welcome, thanks. Edit: Realize it's not a case-by-case tool, but played with an equity calculator to gather insight, but this doesn't factor time invested in the project. https://imgur.com/a/Ovsoq [link] [comments]  |
| Did You Consider These Three Factors Before Choosing Your Business Name? Posted: 02 Dec 2017 12:52 AM PST A business or brand name is the linguistic part of a business: It is spoken, as well as heard and seen. A business name introduces a business; it represents all that the business stands for, and should therefore be strategically formed so as to earn its place in the daily vocabularies of customers/clients. Being professional naming consultants, we have seen several business names that fell below standard as a result of the insensitivity of some business owners to consider few important factors before finally settling for their business names. The following factors are worth considering if you must come up with a business name that would resonate well with your target audience as well as stand the test of time. [1]. Sound Symbolism This basically talks about the visual associations the words that form your business name carry. In other words, a winning business name will have some visual element in it. When you look at your business name, what image does it create in your mind? Does the name even have any visual element at all? For example, a name like CoffeeHour quickly creates the picture of a coffee shop that serves coffee at a particular time of the day. Another example is Fiverr where two words are incorporated into the name ('Five' and 'Dollar') so that when you think of Fiverr, what comes to your mind is a platform where you can buy and sell five-dollar services. This is the visual element! Your brand name should be able to create some awesome images about your brand in the minds of your clients. Your potential clients should see your uniqueness, understand your brand personality and be willing to be identified with your unique business story through your name. Your customers should be able to visualize your brand image and get connected to you through your brand name. [2]. Memorability A quality business name should be memorable and be made easy for people to say and spell. Yes, having a catchy name is good but if your brand name is constantly misspelled and not pronounced correctly, you are indirectly raising a red flag about your business! Examples that readily come to mind are Twitter and Google. These brand names are catchy as well as memorable. Since your goal is to attract customers to your business and your product, making it difficult for them to spell or pronounce your name gives them an impression that they are not needed and this might make you lose them to your competitors. And you know this could be costly. To them (customers) it means you are simply telling them to "look" or "go elsewhere." You will make your business or brand very attractive to your potential clients when you make them feel comfortable when spelling and pronouncing your brand name. However, this does not mean you should ignore the choice of having a catchy name; you just have to make sure it is also memorable and easy to pronounce. Remember, you want to win as many customers as possible. [3]. Positive Connotation A connotative meaning is either positive, neutral or negative. However, you would love to present your business in a positive way (not the other way round). And one of the best ways to do this is through your name! What kind of meaning does your business name have? Or may be you did not even think this is crucial to the way your potential clients would perceive your business. The CocaCola's Sprite and the Verizon, an American telecommunications company, are two good examples. Sprite (a name developed by Lippincott) was to be marketed as something refreshing, lively and energetic, while Verizon (also created by Lippincott) suggested a reliable and forward-thinking company. These names carry with them some positive meaning. The word mom or dad tends to connote closeness, friendship sense of care and openness that flow from a mother or father to their children; whereas the word mother or father tends to present a neutral, generic meaning. A good business name should not have neither neutral nor generic meaning. Rather, the meaning should be positive and emotional. As emotional beings, we are easily connected to something that speaks to our emotions. We are often favourably disposed to whatever it is that appeals to our emotions, quickly. A good business name should be able to do this. What kind of meaning does your brand name portray? How do people feel when they see or come across your brand name? This factor may influence the action they would take concerning your business or product: deciding to transact with you or choosing to go elsewhere. Your brand name should create some positive feeling about your brand and should resonate with your target audience's emotional needs. Considering these three factors before choosing a brand name will definitely work to your business' favour, now or later. Do you have any questions for us as regards this topic? We'll be glad to answer them. Thanks for reading. [link] [comments]  |
| Posted: 01 Dec 2017 01:36 PM PST Hi All - Joined a company recently as an outside contractor working for a common client. No contract but long term relationship between me and the guy with continued help in growing each other's business. I am now in the spot of winning this business bigger contracts and getting his rates higher.. and he's completely unresponsive to my discussions on partnership/revenue sharing. It's almost like he's frozen w/ inaction.. or the inability to have a confrontation on it. Maybe I'm moving too fast? I see the opportunity to win a big contract right now.. not later so revisiting will be worthless. Any advice on how to handle? It's his main account, do I grow it and hope for the best? It's in my nature to grow things... hard for me to be involved otherwise. [link] [comments]  |
| Posted: 01 Dec 2017 07:32 AM PST The following is a part of the confidentiality agreement I'm about to sign. It is confusing because first it says "the Founders shall further define confidentiality obligations" and then it says "in no circumstances shall it be considered confidential." Which one is it? "In the event that the Founders do not wish to continue their mutual collaboration, the Founders shall discuss a mutually agreeable separation and division of assets of their collaboration. The Founders shall further define any and all confidentiality obligations related to the Business Concept and Technology. Consistent with Cal. Bus. & Prof. Code § 16600, et seq., in no circumstance shall the underlying business concept be considered confidential upon termination of this Agreement." [link] [comments]  |
| Help finding another co-founder Posted: 01 Dec 2017 08:35 AM PST Killer Product - Check Stellar core team - Check Marketing Ninja - ** HELP WANTED ** We are in search of bringing on another co-founder but am finding it difficult to find right person. We have a huge headstart as MVP is production ready and starting to get media attention/amazing reviews. We are looking for the digital marketing master to join our team at Riverwood Acoustics. Our current team has all the basis covered expect for a lead marketing/sales person (i.e The hustler). We have the engineering, business and production side well covered but have established our gap is marketing (primary digital marketing). I have gone to some networking events and am finding either most people already have their project and are in the same situation or are not the right fit. Any suggestions where to look would be greatly appreciated. [link] [comments]  |
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