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    Startups Should I form an LLC for a one man startup?

    January 01, 2018

    Startups Should I form an LLC for a one man startup?

    Should I form an LLC for a one man startup?

    Posted: 31 Dec 2017 03:21 PM PST

    Hey! I recently started a 1 man startup as the title says, and I'm at the point where I want to form a business entity instead of operating as a sole proprietorship. I'm trying to pick a business entity type while optimizing for:

    1. Very low or nonexistent maintenance. Again, I'm only one guy and might only hire 1-2 other people in the lifetime of the company - as such, don't want required board meetings and various other BS to deal with.

    2. Ease of acquisition if another person/company wants to pay me a sum to acquire the business at some point. Note that this startup is and will remain a self-funded venture, so ease of acquiring funding is not a concern.

    3. Legal protection: if I get sued, I don't want them to be able to go after my personal bank account and whatnot

    Note: I live and work in California.

    Based on the above, I'm considering forming a single-member LLC. Here are my questions:

    1. Is this a good choice for my situation? If not, which business entity would you pick?
    2. Do LLCs allow for acquisitions or will this scare people off? Asking because I've read that LLCs sometimes scare investors off for whatever reason, so I thought the same might apply for acquisitions.
    3. If I want to hire those 1-2 additional people, do I have to make a change to the business entity type if I go with LLC?
    4. Should I form the business in a different state? I've read stuff about Delaware being favorable to corporations, but I'm not sure if the same applies to a LLC or not.

    Thank you in advance!

    submitted by /u/monoxiphoid
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    Any advice for guerrilla marketing for gaming startup?

    Posted: 31 Dec 2017 06:44 AM PST

    So we're a new development team. We've just come up with our beta game and we're raring to get things started. We don't have a big budget to get things kick started but we believe that our game and app have a lot of potential. I've heard some guerilla marketing could really be a solution we're looking for. Maybe a little advise from the giants would be good. Or a shove in the right direction can definitely prove useful. All in all, our goal is to get out there and show people what we came up with.

    submitted by /u/Mobileappgaming
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    I have a great (in my opinion) app idea but have no coding experience... where do I start?

    Posted: 31 Dec 2017 07:12 PM PST

    I've had an idea for an app for quite some time that I genuinely believe is a good one. I'm 16yo and I aspire to become a full time entrepreneur one day.. I just don't know where to start. I've been reading a plethora of books over the past couple months covering startups, marketing etc but I'm still hung on what to do. I'm a pretty impatient person and would hate to have to wait until I'm 18 to start an operational business. I came up with this idea for a DECA (Distributive Education Clubs of America) project; however, I can't compete with my idea because I just moved schools and the new one doesn't offer the DECA club. Nonetheless, I think it's a good app idea and want to pursue it with a mobile app. Again, I have no coding experience but I do have a comfortable amount of money to start. Any advice?

    submitted by /u/hunterlewis
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    Is there any marketplace plug and play solution like sharetribe that offers an upwork / freelancer type solution?

    Posted: 31 Dec 2017 05:42 AM PST

    Hi all, I am currently looking to find an online plug and play solution, subscription based model in which they take care of all things technical - updates, security for holding of funds, support etc and I only focus on growth without the need to waste time and money building my own platform and hiring developers on a full time basis for anything that might happen.

    Most solution I am finding are a couple of wordpress themes, or clone scripts but I would need to take care of the rest.

    The closest I found is ShareTribe, however they apparently are not a good fit for freelancing, On demand and Gig Economy.

    Thanks in Advance for any comments.

    submitted by /u/s_q_p_r
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    Please vet my goto-market strategy for an enterprise licensing model?

    Posted: 30 Dec 2017 08:29 PM PST

    I'm pursuing a licensing business currently. My happy path is $60,000 annual licenses for enterprise sales. Once I get a deal or two, I'll open up a wider release.

    My product lives in the JavaScript space. I've done many day jobs for years where I've contributed my IP in "theoretical form", but now my IP is ahead of the market (e.g. IBM has a solution in a dated version of JavaScript, acquisition turned a shell of its former self). My code is neatly organized, and built to standards companies like Google use.

    I'm reluctant to "sell" my software. However, I am currently in a sales engineer role and since I see incoming business, it's not a big leap to bundle relevant packages to jump start a project. This could save months of development time and reduce formation risk.

    I have an in with the VP of Procurement to set a meeting in the new year. Without going into the details of this deal, I could see myself providing solutions consulting for free and providing the necessary packages to jump start any project. This becomes my, "beta" program and I can offer licensing at heavy discounts while retaining any IP developed as a result of beta usage.

    Rounding out the business case, I have a local advisory/consultancy backing up this deal and they'll get some cut of work for each license.

    A great business comparison in the charts space would be High Charts. Their code is of great quality, and the product reflects it. They offer open-source usage and premium add-on's with SLA's for enterprise sales: https://www.highcharts.com/

    Here are my questions:

    • Can I "go bigger"? Can I go develop new customers without compromising my day job? In theory, this software could go live for a couple of big brands soon, and I have no idea if/how to capitalize on that.

    • What are some effective and cheap (online advertising, for example) ways to market this and should I?

    • How do I expediently get an independent engineer to "vet" the code? How do I coordinate this for any sales prospect to remove the "untested" and "green" adjectives from the software I've built?

    • How do I defend a licensing model from competition in the short-term? Long-term, new standards come out all the time and software licensing fails hard outside enterprise???

    • What are some great ways to convince a "smaller fish" to join me instead?

    submitted by /u/maybebeawesome
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