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    Wednesday, November 28, 2018

    Startups How to settle an argument with your business partner?

    Startups How to settle an argument with your business partner?


    How to settle an argument with your business partner?

    Posted: 27 Nov 2018 09:55 AM PST

    This year I started up a business in the festival fashion market. Early on I decided I wouldn't have enough time to invest into it due to being in full time employment, therefore like any other rational person I brought a friend into it.

    Since then, we've managed to accomplish many things like creating our own brand, a profitable e-commerce business and our own shop that we manage at numerous festivals.

    Now the issue is how to grow our business fast and exponentially. I want to achieve this by putting a budget aside for hiring other people to do the more labour related work for us so that we can put time into coming up with ideas and campaigns that are actually going to help us grow. My business partner has a complete different mindset and would rather we saved the money and did the cheap labour ourselves. I don't personally have the time to post pictures on social media all day and edit our website when we can afford someone else who is most likely more experienced than us to do it. Unfortunately every decision has to be done together, there is no one who makes the final decision because my partner can't accept that someone else may have a better longterm solution than him. It's still in the startup stages therefore I still need him and we've gone too far together for me to drop him myself.

    The disagreements are endless and counter productive, it drives me crazy! Has anyone else encountered these kind of issues in their startups, how did you deal with them?

    Edit: I've read all your comments, I'm very appreciative of the genuine feedback, some were more insightful than others. I've found a way to compromise with him for now but there will be changes to our governing structure. I've lost a lot of power since bringing him in as I've had to do a year long engineering internship, so I gave him more responsibility and this has got to his head. As soon as I finish my internship and can go full time on the business he will know who has the final say. As much as it pains me to say it, he's very useful to me right now so I won't be 'firing him'.

    submitted by /u/novacortex
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    What are good questions to ask to get useful beta feedback?

    Posted: 27 Nov 2018 03:00 PM PST

    I want to collect feedback from early users of a web product using a feedback form. The beta is not targeted/restricted so maybe it's more of an early soft launch. Can anyone suggest questions they have personally found effective for gathering useful feedback?

    I read questions should worded to prompt negative responses e.g. "Why wouldn't you use x again?" and " What would you add to x?"

    Also, I'm planning on using a Google Form to collect responses. Are there any alternatives worth considering?

    Thanks!

    submitted by /u/greensnz
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    Question and points to raise with Adyen

    Posted: 27 Nov 2018 11:49 PM PST

    Just joined a start up and will be overseeing finance, along with IT development (my actual area of expertise) . Have little prior experience though with mobile payment providers and platforms and integration with apps. Our planned biz is mostly across SE Asia with some in UK and Australia, so we lined up a meeting with Adyen to discuss - as they seem to have the most capability for our geographies and payment providers.

    What are some relevant questions and points - or just things to keep in mind - that I should be talking through with them? Obviously they will help us through the way it will work for our biz , but always good to ask some smart questions.

    Comments on experiences with Adyen also much appreciated.

    submitted by /u/Existential12
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    Basic startup noob list of questions

    Posted: 27 Nov 2018 07:28 PM PST

    I have a few ideas that I plan to start a business with but I have practically no experience whatsoever. I have a few specific questions that I have listed below and would gladly appretiate any help or advice. Thank you.

    1. How do I get investment and investers? I am aiming for around a couple thousand to start off with creating prototypes and planning things out.
    2. how do I approach companies? One of my ideas will require cooperation with grocery stores. How should I ask them to try my idea?
    3. Security of idea. How should I protect my idea while finding help and approaching companies? Any suggestions for how I can prevent someone from stealing my idea?
    4. Any other tips will be greatly appreciated :D
    submitted by /u/EchospiritsYT
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    How to approach companies

    Posted: 27 Nov 2018 05:56 AM PST

    Hey all,

    I just recently created my startup company that wishes to help growing and small businesses get more sales and awareness through marketing and advertising. We focus on social media improvements as well as brand awareness. I've been having troubles finding a good way to approach companies to get them interested however and was wondering how you guys find a good way to approach and grow your companies customer base. Do you approach companies or do you wait for companies to approach you? I would love to hear your input and any suggestions you may have to help me along my way as well. I'm always willing to learn. Thanks!

    submitted by /u/nexusblast
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    Is an MVP enough to start soliciting investors?

    Posted: 27 Nov 2018 06:53 AM PST

    I am a non-technical founder working with contractors to build a software product I lack the skill to build myself. Basically I had an idea for an app, did some casual research and verified the market for it, and decided to invest out of pocket to build it. The MVP has cost me about $20k and should be done by the end of the year.

    However, I've run into a financial problem. I'd been funding this off my earnings from my primary business, but my revenue is way off from projections the last couple months, and if it doesn't get back on track I'm not going to be able to afford to market and grow this app past the MVP.

    I believe in the concept, and so does the developer - he's started asking about going from contractor to partner and working for equity instead of pay, which I'd really like to do, but if I can't inject the cash to market it effectively, I'm afraid it might die in the cradle. It's a social networking app so rapid growth is essential to its success.

    A few individuals have casually asked me about investing in it so now I'm wondering if I should go ahead and start trying to solicit investments once the MVP is done and I have something to actually show people. I have a business plan and for the most part it looks great to most of the people I've had examine it (except a friend in the advertising business who thinks I'm too focused on the product).

    I'm thinking I may have a few options. I may be able to get a conventional business loan to finance the next year of marketing, and if I can get the developer in as a partner that will save me having to pay him cash. Or I can explore options to sell equity to investors. Initially I wanted to do it all myself and keep full ownership, but I'm starting to doubt that I have the financial means to do so.

    Ideas?

    submitted by /u/NotRoryWilliams
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    [Advertisement beginner] Advertising for a POD / street-wear / fashion store

    Posted: 27 Nov 2018 04:02 AM PST

    Hi,

    If you have decent a decent product/store within the clothing/fashion industry, how would you go about advertising it? I find myself in a situation where I have spent a lot of time on store/product design, but don't know much about advertising. I'm basically in the mindset of "my store/products will be good enough to sell themselves".

    A detailed explanation for my personal situation:

    "I just finished upgrading my Shopify store. I / everyone can make a decent store with some "ok" products, and for me, the hard part comes when you are about to get your brand/products marketed. I have a really hard time grasping how to properly advertise. I don't know how to or where to start.

    I tried Facebook advertisement a while back. I ran ads between (late August) - (early October). I spent about $500, got ~1000 visitors and NO sales. I believe the main reasons that I didn't get any sales were: too high prices, not an optimal site, and bad advertisement/targeting quality.

    At this point, I have put a lot of time into upgrading my site. I also changed up my prices to make them more realistic, based on the fact that I currently run a print on demand brand.

    Thus, my main struggle is doing quality advertisement and targeting research. Right now, I feel like I have a quality product and website, but no way of getting it sold.

    I've been working on this for the past 4-months and invested a considerable amount of money, in relation to the fact that I'm basically drop-shipping POD products.

    I feel stuck but really close to my first sales."

    I'm trying to understand what platform to use, how to find do targeting, and in general how to get started.

    Any pointers and/or direct advice would be heavily appreciated.

    Thanks

    - Generic

    submitted by /u/genericName00001
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    Anyone got a recommendation for how to send out Ts&Cs?

    Posted: 27 Nov 2018 03:10 AM PST

    So we have a freemium SaaS product, and up until now we've been sending over Ts&Cs as a PDF in an email and getting acceptance that way.

    However, that takes more time on their end and so can lead to delays in getting them accepted. We've grown to a point when it makes sense to try and streamline the process a bit, and get it to a point where people can just tick an "Accepted" box.

    I was wondering if anyone had any recommendations on prebuilt solutions here? Do people just use docusign or Adobe Sign or is there a better solution?

    Thanks!

    submitted by /u/freefromfoodie
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