Startups Paying an out of country co-founder? |
- Paying an out of country co-founder?
- Freemium 101: What features you should charge for?
- Ready to hire a virtual assistant, advice?
- Founders need to get along. If you have doubts, it won't get better. Different opinions is fine, as long as you can resolve them. All founders need to agree on the same vision.
- Need advice negotiating equity for online magazine startup
- Starting up a one-man art studio - Insurance is proving difficult to find, and what I have found is $$ - Advice/Perspectives appreciated
- Looking for cofounders on University
- Need advice negotiating equity for online magazine startup
| Paying an out of country co-founder? Posted: 08 Nov 2018 02:00 AM PST My co-founder of one of my companies lives in Canada, we have an equal split 50/50 of ownership. Our company is registered as an LLC, although we're going to be rolling that into a corporation. We're bringing in revenue and it's time to earn a salary, however, he's wanting to stay in Canada and not come to the US. What's the best way to make sure he can get paid with the least amount of double taxation? I see a lot of people suggest working as a contractor, is this a possibility to work as a contractor for the company that you are a partial owner of? We've been told the worst case scenario is he could get taxed at 70%! That's absolutely insane, and in no way feasible. [link] [comments]  |
| Freemium 101: What features you should charge for? Posted: 07 Nov 2018 08:17 AM PST For starters, let's talk basics a little bit. What's a Freemium?Freemium is a form of monetization and distribution where basic services are provided free of charge while additional features, services or virtual goods are only available for those paying a premium. There are 3 kinds of freemium limitations out there:
The third one is not interesting for us, it's too uncommon for apps. Is the Freemium model right for you?What do the successful freemium-based businesses have in common? The majority of their user base can go for years without having paid a single cent for the service. Personally speaking, I've been using Dropbox since 2009 and I've never paid for it. Notion, Google Drive, Evernote — none of those ever got my credit card details, even though I rely on them every day. So how come these services are even successful? Well, a user who's been loyal to the product for years is more likely to become a paying customer. Admittedly, it does seem like a long shot. However, if the product is good, your paying client base is bound to grow exponentially, because people are eager to recommend something they get great use out of to everyone they know and their mother. If you're considering freemium, it's better if your app meets the following criteria:
Theeen, what should you charge for?Ah, that is the question, isn't it? And the wrong answer can ruin everything: your revenue, your referral program, even your product. Nobody knows the right answer and if anyone tells you they do — they're lying. It's a guessing game, just like the one you play when picking the price of the product: you pick the one that best fits its worth to you and then tweak it based on the market's reaction. There are, however, certain things to consider if you're still in the development phase:
In my article I highlighted one of the experiments, when we gave away a paid feature for free… and increased the revenue. It was a 60% increase in retention rate and 15% increase in conversion rate. Truly magical case, you should go check it out. How did you come up with your current monetization model? Do you run experiments with it? [link] [comments]  |
| Ready to hire a virtual assistant, advice? Posted: 07 Nov 2018 06:05 PM PST Hello all, I'm ready to bite the bullet and start working with a virtual assistant. I have a lot of daily tasks: email writing, contracts to send out, scheduling to book, as well as some basic market research tasks (I need the name of all the venture capital companies in Vancouver who invest in healthcare). For this sort of work, I think that an outsourced VA is the ticket for my workload and budget. That said, I don't have a lot of experience delegating tasks. I've never had an assistant. Ideally I'd work with a service that would assist me in this process. Of course if I need to just jump in and learn to swim, I can do that too! Do you guys have any recommendations? Agencies vs posting an ad? Particular countries? How to learn delegation? Any thoughts or advice welcome. I'm not sure if it's allowed to post specific company recommendations, but if it is, I'd sure like some (or feel free to pm me). Thanks! [link] [comments]  |
| Posted: 07 Nov 2018 03:35 PM PST I was a co founder of a startup, I've recently left. Mainly because of struggles with one of the other 2 founders. Have been together for about 2.5 years, the company still exists and will continue without me. Since the start I had doubts. Lots of communication issues and fundamental differences in how to grow a company, probably also caused by different cultural backgrounds. It's perfectly fine to have different opinions, but they have to be resolved in a normal way without much stress. And if you have conflicting opinions, if one person never gives in, then this will cause major issues. It happened in my case. We managed to work together though, but it kept annoying me and recently it has exploded due to some issues. I gave up despite loving the product. Just wanted to share this, hopefully it's useful. [link] [comments]  |
| Need advice negotiating equity for online magazine startup Posted: 07 Nov 2018 01:35 PM PST I need some advice on a large-ish project for a client who does not have money to pay me now. The website is an online magazine and aside from being a content-driven site, there are other aspects that make it very attractive to me to take on as an ongoing side/passion project, namely, I think it has potential to generate revenue in the future. Basically, I want to work on it even though the client does not have a real budget for design or even dev, although we do have the combined resources to make it happen. I'm estimating i would be working about 20-25 extra hours per week for the next three months leading up to the launch date. After launch I would be looking to have an ongoing role in art directing content, among other responsibilities. I want to ask the client about paying me in the form of equity in the company. I understand that partial ownership would entail more of a partner relationship, rather than a client one. With so many unknowns I'm wondering what would be a fair percentage to ask for in return for my services? Are there specific details I should be bringing up? Is this even the best way to go about this? Perhaps there are other methods for figuring out compensation in the future if things were to take off. I should add that both the client and myself have full-time jobs and are/will be working on this in our free time. It's possible that could change, but probably not for another year or two down the road. Thanks ahead of time for any advice, much appreciated! [link] [comments]  |
| Posted: 07 Nov 2018 09:45 AM PST Hey folks, I'm dealing with a bit of sticker shock and could use some advice. I am starting a one-man-show art studio. I have my LLC in the process, and I am trying to nail down insurance. My studio will be capable of providing 3D design, modeling, scanning and 3D printing, the painting of prints, etc. The type of work I will be doing is pretty art/visual centric, as in; fine arts sculpture, art restoration, theatrical props, model kits, non-functional prototypes, etc. No functional aerospace parts (one company asked about this specifically), structural elements, or parts otherwise integrated into a system. In other words, pretty safe stuff. The only quotes I have been able to find (3D printing has apparently red-flagged me from a number of providers when applying) have been $1300 for general liability, $2500 for E&O. Combine that with (albeit seemingly reasonable) property insurance, and I come in at over 4K a year. This all seems excessive for what I do, IMO. The general liability (despite the cost) is a no brainer, but I'm not sure about the E&O. Granted I COULD miss a deadline, or (though unlikely) deliver a product of poor quality, I have to wonder how high the stakes are. Worst case I guess (assuming I've kept LLC separate from personal) I would just lose my studio, equipment, etc. I'm pretty new to all this, so any perspective is appreciated. [link] [comments]  |
| Looking for cofounders on University Posted: 07 Nov 2018 12:14 PM PST Hi reddit startup community! I am CS Master student, studying abroad. I have a couple of small ideas for technology products in agriculture and forestry field. I would like to find a friend/partner from that field, but I have no contact with students from that and similar branches. My question is the following: How convenient and recommendable is sticking a simple paper that says something like TL;DR 'Hi fellow students, I am CS student on our university, with couple of ideas for products that could be useful in your field. I am looking for someone that will be interested to sit and talk with me. Contact me at XXX' on the couple of info tables in corresponding faculty buildings? My goal is to build some contacts with other innovative students from these fields and potentially find a partner for some future startup. Thank you for your answers and discussion :) [link] [comments]  |
| Need advice negotiating equity for online magazine startup Posted: 05 Nov 2018 01:34 PM PST I need some advice on a large-ish project for a client who does not have money to pay me now. The website is an online magazine and aside from being a content-driven site, there are other aspects that make it very attractive to me to take on as an ongoing side/passion project, namely, I think it has potential to generate revenue in the future. Basically, I want to work on it even though the client does not have a real budget for design or even dev, although we do have the combined resources to make it happen. After launch I would be looking to have an ongoing role in art directing content, among other responsibilities. I want to ask the client about paying me in the form of equity in the company. With so many unknowns I'm wondering what would be a fair percentage to ask for in return for my services? Are there specific details I should be bringing up? I should add that both the client and myself have full-time jobs and are/will be working on this in our free time. It's possible that could change, but probably not for another year or two down the road. Thanks ahead of time for any advice, much appreciated! [link] [comments]  |
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