Startups Why do these mentors want? |
- Why do these mentors want?
- Breaking a myth: Data shows you don’t actually need a co-founder
- Good banks to open my first business account?
- I've been the first (non-technical, marketing) employee at a startup for the past 3 years making $30k/year. I need help negotiating + doing cost/benefit analysis on the situation.
- Innovation Ideas.
- Start up costs
- Advice when moving from partnership to incorporation and buying out 1 partner. (Canada)
- Any tips on how to do A/B tests?
- Quick Advice from all Startup Guys,Designers, and Marketers about a website .
- Would you take this offer ?
- 4 months, 2 developers, 1 technical adviser => Stack suggestions for a Mobile App?
- What independent ways are there to assess the value of a company to quantify an equity offer?
| Posted: 04 May 2018 03:04 PM PDT So me and a couple of friends presented a idea and won a startup weekend challenge. Anyways, the mentor who was helping us out then liked us soo much that he wants to help us more, but that's not it. We got calls from many others mentors (who wasn't even there) claiming that they know investors and they are willing to help us out with pitching to them.. Now, we had a meeting with one of them, and it went well and he pointed out on how we can improve and stuff. Since we are new to this industry, what do these "mentors" want for hooking us up with these investor's? I know they aren't just helping us just out of Goodwill. There must be some catch. It is something I am planning to ask about in our next meeting, but it will be nice to know if anyone else have such experiences. [link] [comments]  |
| Breaking a myth: Data shows you don’t actually need a co-founder Posted: 05 May 2018 01:03 AM PDT https://techcrunch.com/2016/08/26/co-founders-optional/ We are often told that starting a startup on your own is madness. There are thousands of articles out there that tell you that, as well as why you need a co-founder. Probably solid advice, but data from thousands of startups in CrunchBase shows a different side of the story. More than half of startups with an exit did so with just a single founder. The average is 1.72 founders. To ensure that I had the most useful and well-reported data, I limited my research to "successful" startups. It's tricky to determine what makes a company qualify for that label. There are examples of great companies that haven't made a penny in their existence, and others that made a lot of money but still cannot really be considered successful. As such, I decided to look at two different — and admittedly slightly arbitrary — measures of success. The first group is companies that have raised more than $10 million of funding. The other group is companies that have successfully exited the business, either via an IPO or an acquisition. The numbers in both cases vary slightly, but there are some strong similarities, in both cases re-confirming data from about 10 years ago, where a much smaller data set concluded that successful companies had, on average, 2.09 founders. [link] [comments]  |
| Good banks to open my first business account? Posted: 04 May 2018 04:31 PM PDT Hey, I've been slowly growing a startup over the past year. Right now it's only me and a friend (no employees yet) but recently we've been getting quite a bit of revenue, to the point where it's becoming a real business that we'll need to track finances accurately for taxes and apply for a business licence/LLC. For now I'll be in charge of accounting and taxes. Right now most transactions are done through our personal bank accounts but obviously that needs to end and we need to get a separate business bank account. What are some factors we should look for when choosing a bank to create a business account? [link] [comments]  |
| Posted: 04 May 2018 05:18 PM PDT So, to make a long story short, I joined a startup that I really enjoy as a first employee. I've been making $30k/year for the past 3 years and no stock options or equity has been penned on paper. (but casual discussions have happened) The company had already raised ~$1M in a seed round and now has about 8 employees making similar salaries so it could survive. (Still pre-revenue) The cash is going to likely run out in about 5 months or so unless another cash infusion comes in. Now, we both know that I am working wayyyy under market value (they've even said this), but I have been quiet because I know they cannot afford to pay me yet. Presuming another cash infusion comes in ($1m+), I want to re-negotiate my salary to $80k + stock options + equity at a minimum. Is that reasonable? Also, how much in stock options and equity would you consider to be reasonable at that rate? I really like the work and the startup and that's the only reason I am staying. I have about 5+ years of marketing experience in a startup context and realistically, I can get $100k+ gigs (I've been offered) based on my experience. I am trying to do the math on equity + stock options etc. being potentially more valuable in the long term. Also, I am a single dude with minimal expenses, and I have no problems with taking risks, and I need help to make sure I am not approaching the "stupidity" line. I need your help with some reasonable numbers (specifically salary, stock options, equity and other terms) when If I get to a point where a cash infusion comes into the company and I need to negotiate. I.e: Cost / Benefit analysis. If you have been a founder before, I would appreciate your advice even more. Advice? P.S: BTW, I am also doing freelance stuff on the side because I have some free time even with the $30k thing (it's remote work, but I've worked with the founders for a while)...so collectively (with my freelance stuff), I am still clearing close to $100k. Also, while my role is non-technical, I have a decent understanding of technical stuff (engineering drop out, used to write code for fun) and apply that knowledge to my marketing as well. [link] [comments]  |
| Posted: 04 May 2018 12:11 PM PDT Hello, I'm a high school student that currently has a bio innovation project in motion. However I can't seem to think of any ideas that aren't stupid, I thought of making a company that makes protective gear for cars so they won't get as destroyed in crashes while still looking stylish however I was told it wasn't that good by my teachers. Does anyone have any good bio innovations I could use for my project? my creativity has literally been destroyed by this horrible school system. Any help would be nice thanks /startups/. [link] [comments]  |
| Posted: 04 May 2018 02:14 PM PDT So say I have designed my product, lets pretend its one of those cups that can't be knocked over. Ive designed my product and am looking to get it manufactured, as a young 22 year old I'm thinking China, Vietnam etc. are the standard places to go to. However, there lies the problem - do you ship straight from china to the customer? My thinking is no because it would take 30+ days most likely, and thats just taking the piss. So, id need to get all the goods delivered to me before i even start trading. How can i best limit possible start up loss if god forbid the business doesn't take off, as i would not yet be able to accept orders? Or is this just something id need to accept and be prepared to take a hit to the ol' wallet Thanks [link] [comments]  |
| Advice when moving from partnership to incorporation and buying out 1 partner. (Canada) Posted: 04 May 2018 02:38 PM PDT I'm in an equal split partnership with 2 others (3 total). One partners is on the fence about moving forward with the business due to multiple reasons. The 2 remaining partners (myself and other partner) are willing to buy him out and remove him from the partnership and incorporate without him.
There is no operating agreement and just a business license naming the 3 of us as partners.
What would be the best way to split the current profits (lets say $6000) while still being able to section 85 rollover our revenue this year and current stock? Basically, what you do in this situation? [link] [comments]  |
| Any tips on how to do A/B tests? Posted: 04 May 2018 06:19 PM PDT I have a select group of people in mind with whom I'd like to ask for their opinion on the name of a product I'm working on. I'm unsure as to whether I should just drop the names I'd like to test or to explain the product as well. One concern I have is that the more I talk about the product, the more people will know about it. Trying to keep it hush for now as we aren't fully done developing the software yet. These are people who I am acquainted with, are the target audience of our product, but aren't necessarily "friends" with whom I would trust. Any advice on whether or knowing the product significantly changes how people will react to the name of a product? [link] [comments]  |
| Quick Advice from all Startup Guys,Designers, and Marketers about a website . Posted: 04 May 2018 06:02 PM PDT Hello im building a SAAS website and i was wondering if there a special person or special job title that can look over the design that my designer built for me and just give me ideas what to improve and what to remove for better conversions and longer time spent on my site and ect. ? its a SAAS business im building and i feel like the home page is a bit long and overwhelming and i would want to see if theres a name or some sort of marketing term for this kind of job please let me know thank you in advance . [link] [comments]  |
| Posted: 04 May 2018 07:05 AM PDT So here is the deal, a bunch of investors reached out to me with an offer. - The investors are basically day jobs as HFT fund managers, they make quite a money this way. Passionate about sports business. - They will put all the money needed. - I get 5% equity and a salary 20% short of market value. - I will be the CEO of this startup How do you evaluate something like this ? I personally feel, startups can't be run like this. You either in or out. I might wanna take up something like this for probably 6 months, learn the ropes of the business. Maybe post that, you can go your own way. If I do decide, what should terms include. Should I negotiate a golden parachute if they decide to fire me before a specific time period, accelerated vesting etc. Does anyone in the community have experience with something like this, I know Rocket Internet does something very similar. [link] [comments]  |
| 4 months, 2 developers, 1 technical adviser => Stack suggestions for a Mobile App? Posted: 04 May 2018 09:06 AM PDT Hi all, As the title says, we're building our first professional app and we're trying to figure out a simple approach. The app is essentially Instagram in terms of functionality but not content: Content is sent between users. Users get updates from all of their subscriptions automatically. Users can subscribe and unsubscribe from content providers and view the subscribed content in an graphic interface that involves swiping between images. We are very comfortable with C# and Java. We do have some experience with JS, React, Express, Node and SQL. The goal is to have a functional Android app by the end of the summer that can be extended to an IOS native app and a website in the future. Thus far our research has suggested: Firebase + Node with React Has anyone done something similar and might have a suggestion? Thanks [link] [comments]  |
| What independent ways are there to assess the value of a company to quantify an equity offer? Posted: 04 May 2018 04:34 AM PDT Is anyone aware of any independent ways or online sources to assess the value of a company to quantify an equity offer? I have knowledge of - my assigned shares vs all shares - the latest 409A evaluation (which translates directly into the strike price?) - the strike price - the price per share the investor paid in the last round for preferred Any pointers to sources or ways to get a neutral and independent evaluation of series G company appreciated; trying to baseline the offer that is equity heavy to my current package. [link] [comments]  |
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