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    Startups A word about contracts...so many dread ‘em, but you need ‘em

    October 06, 2018

    Startups A word about contracts...so many dread ‘em, but you need ‘em

    A word about contracts...so many dread ‘em, but you need ‘em

    Posted: 05 Oct 2018 10:38 AM PDT

    I'm adding this here because I know it will help someone down the road. Because sometimes we slip up and forget about project administration. But sufficient planning often lays the pathway to success.

    If you're just starting out, get your paperwork in order. Namely, prepare a standard contract.

    DO I NEED A CONTRACT? -Yes, you should have a contract. Always. -You should thoroughly review the contract with the client and make changes as needed.

    WHEN SHOULD I PRESENT THE CONTRACT TO THE CLIENT?
    It depends. In the very least, you should discuss project requirements with the client and THEN draft a contract. This could take anywhere from 1 to 8 hours, depending on your line of work and the complexity of the project.

    If you have the leverage, you can require a fee to provide the estimate/quote/contract. Make sure the client knows that a fee is required, though. Call it a deposit/fee/whatever.

    YOUR CONTRACT SHOULD INCLUDE AT LEAST:

    -A Description of each project phase.

    -A description of the deliverable(s) for each phase. Be as detailed as possible.

    -Hourly rate(s) and estimate(s) of hours required to complete each project phase.

    -Due dates for payment...are you being paid at the end of each phase? At the very end of the project? Half up front? Be specific.

    -State how you want to be paid...Check? Bank draft? Credit Card? PayPal? Dollars? Euros? Be specific.

    !!!!!!! In all things "contracts", be specific. Even if it means being specifically vague. !!!!

    If you have other contract advice, please share!

    I hope this helps!

    submitted by /u/Majabear
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    Need advice! Co-founder wants to buy me out!

    Posted: 05 Oct 2018 10:17 AM PDT

    6 years ago I joined a startup as a co-founder with an acquaintance of mine. I didn't know him very well, but he had deep connections in an industry we were targeting. As the technical co-founder, I was responsible for building out the platform, designing the site, technical support, etc and he, the CEO, would focus on sales and fundraising. He was terrible at all of it, routinely showed up late for work and meetings, and even slept through a potential investor meeting once - but I stuck it out for a while in the hopes some miracle would happen.

    We departed ways after 2 years and since then he's done close to nothing with the platform other than hire a few contractors to keep it alive and make small UI changes. Fast forward to present day and he's contacted me to buy back the majority of my vested shares. He says no one is willing to invest with a chunk of the cap table belonging to someone who is no longer contributing. That may be true (if he even has investors still willing to talk to him) but i'm conflicted over what to do.

    Some notes:

    • Has offered a price in the low double-digits which I don't think is close to realistic for my contributions and where I think the platform *could* go if it had a competent CEO. But i'm not sure how else to value it since we received no meaningful investment and had few sales.
    • He has since shut down the site, likely due to cost although he says he wants to re-do/re-write everything while making some UX adjustments to the core usage of the platform.
    • More than once he has stated he wants to "personally" buy back the shares. Is the word "personally" meaningful here? Is there a difference between selling him the shares vs. selling it back to the company to "unallocated shares"? Does it even matter if he's the CEO?

    My main concerns are:

    1. He has a plan to sell, and wants to buy back the shares a low price to gain all the upside. He probably has a better chance of selling the company rather than getting any real investment
    2. He wants to "re-write" the platform along with some changes to the usage. Can he attempt to make it different "just enough" where I no longer can claim to be a contributor? Could his offer to buy me out therefore be just a "token" of goodwill but go nuclear if he wants to?
    3. If I choose not to sell, or counter with a price he deems unreasonable, can he file suit or take any other action to force me to do something?

    I do have legal resources, but am hoping to tap that as a last resort.

    Truly appreciate any and all help!

    submitted by /u/ryenja
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    INSPIRATIONAL TUNES FOR ALL THE BOSSES OUT THERE

    Posted: 05 Oct 2018 12:48 PM PDT

    I'm a startup owner and former music editor so i turn to music when i need a pick me up. Here's a short list of some GREAT songs to listen to if ur feeling down or need some pumping up:

    "Boss" by The Carters (hip hop)

    "Big Boss Change" by Nef the Pharaoh (rap)

    "Sunset Village" by Beverly Glen Copeland (experimental folk)

    "Boss Up" by Phora (hip hop)

    "Ya Just Need to Believe in Yaself" by Falmouth (house)

    "On Your Way" by Omar S (detroit techno)

    "I Can Only Bliss Out F' Days" by Laraaji (weird 80s hippy shit)

    "I'm Blessed" by Charlie Wilson (r&b)

    "What Do You Want" by Miguel Migs (soulful house)

    "That N*gga" by Iamsu! (rap)

    "Moves" by Big Sean (rap)

    "Fuck With Myself" by Banks (electronic/pop)

    "Heard About Us" by The Carters (hip-pop)

    Enjoy!!!

    submitted by /u/readOKWHATEVER
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    Advice for appealing the Adsense screening algorithm: "Valuable Inventory: No content"?

    Posted: 05 Oct 2018 11:06 AM PDT

    Hi all, was wondering if anyone has any experience with this? Google's adsense screening algorithm is saying we don't have content, even though our site is a few thousand pages and google's own search engine likes us and is our largest source of organic traffic.

    We're basically building a searchable medical image database of clinically useful decision aids, algorithms, checklists etc. Sort of a medical-niche pinterest.

    We're starting to get decent traction (100k image impressions per day), ranking very high for lots of keywords. We're not planning on monetizing anytime soon but wanted to experiment with adsense over a trial period, maybe a weekend. We mainly wanted to see what sort of CPC we would get from what we think is a valuable, targeted high income market (medical doctors). We think this will be useful information in the future if we decide to seek investment to scale our project.

    Anyone know how to appeal this process with google? Thanks in advance!

    Edit: link removed (our content is mainly image based but with captions and links back to reference sources)

    submitted by /u/gmdmd
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    Pro Bono Startup Equity Contract Review

    Posted: 05 Oct 2018 10:02 AM PDT

    I'm working with a former professional athlete on his tech startup and he's offered me equity. I have a contract.

    ​

    Was wondering where I can get a high level look over of this equity contract for Pro Bono.

    ​

    Thoughts?

    ​

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    ​

    Excerpt from contract: "Advisor shall not be entitled to receive any cash compensation for the Services provided hereunder. However, subject to the approval of the Company's Board of Directors, Advisor will be granted a right to purchase 2,500 shares of the Company's common stock. The purchase right will be subject to the terms and conditions applicable to restricted stock purchase awards granted under the Company's 2018 Stock Plan (the "Plan"), as described in that plan and the applicable restricted stock purchase agreement, which Advisor will be required to sign (the "Stock Agreement")."

    submitted by /u/haroldfinchny
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