Startups Share your startup - December 2018 |
- Share your startup - December 2018
- Cofounder asked for more equity after agreed on it
- Equity for web development
- Mentality: founder/entrepreneur vs employee
- How to get and maintain followers on Instagram??
- Advise on pricing strategy for my digital product
- They seem to pull back
- Slicing Pie questions
- What exactly is product management and why your should care TL;DR + Long form
| Share your startup - December 2018 Posted: 01 Dec 2018 03:08 AM PST Tell us about your startup! /r/startups wants to hear what you're working on! Contest mode is on, so remember to select 'Show All' to see all the replies. If you don't see your post, you probably need to load more comments at the bottom. Also, all posts are sorted randomly, so the sort function doesn't seem to work.
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| Cofounder asked for more equity after agreed on it Posted: 01 Dec 2018 11:42 PM PST Hey guys - Summary of the situation: I've been working on this for 4 months prior, I have both domain knowledge and technical capabilities. I brought my cofounder on board because he has great motivation toward building a business and has built a small contractor business before. Though he has no domain expertise, he is great at building relationship and sale but I can do pretty much the same if I have the time. We have not incorporated yet however I offered him 20% me 50% and the rest reserved for a tech cofounder as well as seed. Today he shot me a message and told me that he consulted with other former founders and wanted to split 50/50 to be motivated. For me this is a no-go because of the lack of expertise. The cons is that it is very hard to building something alone. What are my options and directions, if you were in my shoes? [link] [comments]  |
| Posted: 01 Dec 2018 09:37 PM PST I'm a web developer with 8 years experience and I've had an offer from an acquaintance offering 20% equity in a not yet existing startup business. For this 20% he wants me to develop/design an extensive blog/magazine and directory website, in addition to this he wants me to maintain the website. He will be coming up with content, hiring freelance writers, marketing, social media and also off-page seo, although I'm not sure how experienced he is with seo, so I will probably have to get involved. I wont get paid, so obviously this is a risk. He does own another company which is doing well after starting it 7 years ago. If he didn't have success in the other company I wouldn't be tempted in this at all. Obviously my time will be taken up in the early stages and lessen once development is complete, even so, this is a lot of work and I'm just not sure it is worth the effort for 20%. Is 20% reasonable, if not how much is? [link] [comments]  |
| Mentality: founder/entrepreneur vs employee Posted: 01 Dec 2018 11:24 AM PST Hello everyone, I start having a strong feeling that many people don't see any difference between entrepreneur and employee mentality. Let me explain why. Recently there was a post on indiehackers for those who are looking for a cofounder. I'm usually pretty skeptical about the possibility to find a cofounder on Internet but nevertheless, I responded about my project too. What I had after was pretty surprising. The post was about looking for cofounder. Not helper, or employee but a cofounder. For me, a cofounder means the same as founder, but just multiply by 2. Everything else is the same. The same belief in the product, the same fears, the same thinking, and experimenting. But people that messaged back didn't look like they wanted to be a cofounder. They asked me if I already made money, or if I had a strong business plan, or how many users I already had. Nobody asked about the project itself like it didn't matter. But when somebody started a startup there is no business plan at the beginning, it has to be created, and it may be changed many times. And, of course, it's work for founder to find users and customers. So, why did they ask such questions? If they liked the project even if there is no business plan yet, they could think it out. And if there are no paid customers yet, they should figure out how to get them. But if they want to work in the projects with a strong business plan and customers they are probably wrong with responding to this post. Don't get me wrong. I'm not against a business plan, vice versa, I think it's vital to have it but a person who wants to be a cofounder should think which business plan he or she can create instead of thinking how to follow it. Am I right? wrong? why? UPD. I didn't look for a technical co-founder to write the code for me. I'm a dev with 16 years of experience, and also like do marketing stuff and everything else. I just don't have enough time for everything. I also gave some links to my project, to the github where I already put the first version (which has 55 stars already). [link] [comments]  |
| How to get and maintain followers on Instagram?? Posted: 01 Dec 2018 08:37 AM PST I'm starting up a clothing brand (over saturated market I know but I have a unique idea and so I think I can pull it off) and have started a Instagram account but I am having trouble getting and maintaining followers as well as likes. For example my most recent post has only 4 likes in the 30 minutes since it was posted- which is strange especially because the 4 people that have liked it all have told me they have notifications on for my posts. What is up with that and do you have any general tips for getting and maintaining followers?? Thanks. [link] [comments]  |
| Advise on pricing strategy for my digital product Posted: 02 Dec 2018 01:30 AM PST Hi guys. I've created a Pitch Deck Template - tool that helps you create an eye-catching pitch deck in a short amount of time. It works as a template in PowerPoint, Keynote and Google Slides; follows proper pitch deck structure and consist of 100 unique slides filled with best practice content and design. Now, I need your advice on how should I shape my pricing strategy for the product. I'm actually selling it since 2015, but going to release a new version soon (modern design + new slide layouts + reading and presentation versions). Currently, I sell two versions of the template: Regular ($39) and Branded ($59). The difference between two is that in the Branded version I customize color scheme based on provided branding assets (logo, color scheme) or suggestions from the customer. So far this strategy works ok, however, a few customers mentioned that Branded version is not really worth the price. Plus, it also required my personal touch every time - not really effective for the business. So I was researching different options and the one that stuck in my mind is licensing. An idea is to sell two versions of the template based on a number of end projects that the person can create with the template: $39 just for one personal or commercial project, $79 for unlimited projects. What're your thoughts on this? I'm particularly interested to hear critique and ideas from relevant to my product audience - startup founders who're in the stage of preparing their pitch deck. Thanks in advance! [link] [comments]  |
| Posted: 01 Dec 2018 02:57 PM PST Hi everyone, I'm starting a company within the logistics sector in Europe. The MVP will be done in January and is financed by myself and family. To speed this process i applied to an accelerator that specializes in logistics startups. Got called that they would like to meet and discuss the process. First conversation i get bombarded with questions. They seem to like it. Second meeting with other people. Get bombarded again even in more detail. They seem to like it. They want me to talk to a third guy to see what he thinks. Bombarded with more questions. He likes it. I liked this process to really test my plan and from my perspective it went well (as well from their perspective as they told me). Now in the talks we discussed the process where they said i would take part in the accelerator and it was just fine-tuning here and there and then bring version 1 to market as quick as possible. For version one i need some funds. (Two full time employees in short). This all didn't seem to be a problem. They even discussed regarding funds to bridge now and the end of the program just to speed the process. Now they seem to be holding back a bit and want me to bring the mvp to the market without their help. Is this the normal routine in these situations? Can't really get an altitude of the people i spoke with. Thanks in advance! [link] [comments]  |
| Posted: 01 Dec 2018 11:29 AM PST Hey guys. You guys have been super helpful on my previous post about equity split and I've been busy researching a bunch of information that I gathered from your responses. I've come to the conclusion that the best initial equity setup is going to be a dynamic equity split using Slicing Pie. I have a couple questions about Slicing Pie and the equity setup going forward after Slicing Pie however, that I would love to get some input on from you guys. One of the things I learned from my previous post was about the concept of vesting schedules and cliffs, and I've been looking into how Slicing Pie deals with these concepts. The answer is that the Slicing Pie model is an effort based vesting schedule, in contrast to a normal time-based vesting schedule, and the recovery framework is the cliff, as the framework is used to recover equity in case someone quits or gets fired early. The Slicing Pie model is normally only used up to the point of breakeven or until you get a big investment however, at which point the equity will be locked down. Normally with time-based vesting you vest over a period of about 4 years to protect equity, but say if you theoretically hit breakeven within the first year using the Slicing Pie model and the equity is locked down, then everyone could just quit the day after equity lockdown and leave with their shares. I actually asked Mike Moyer (The founder of Slicing Pie) about this scenario to which he responded:
I think it's a fair point, but he has also talked about how investors loathe dead equity, so I'm struggling to truly wrap my head around if it's actually fair to theoretically be able to leave with all the equity after only about 1 year of work. What do you guys think? Should the Slicing Pie model be combined with a concept of time-based vesting to avoid this? Is it perfectly fair as it is? I'm also confused about how the concept of authorised and outstanding shares exactly work when using Slicing Pie. Would all the authorised shares from the incorporation be issued to outstanding shares to be used in the dynamic equity allocation from the start, or can you still keep extra authorised shares in the treasury that are unissued and not part of the dynamic equity split for the future when you get an investor onboard or want a more corporate vesting structure? Would you need/be able to create more authorised shares once you're done with Slicing Pie if you have to issue them all for the Slicing Pie phase? Another thing I've been wondering is how to go from using a dynamic equity split system like Slicing Pie to a fixed equity system when you hit breakeven or when you get a big investor, that calls for a more corporate structure. I imagine that any big rotations of equity will be done at this point as you'll be paying people a salary instead of compensating them with equity(?), but would you still want to do vesting deals with new employees to get them invested in the company? How about the co-founders? Should co-founders also still be given vesting deals to obtain further equity at this point? How would a system like this normally be structured after breakeven or a big investor gets onboard? I would very much appreciate if you guys could help me out once again. Thanks in advance! [link] [comments]  |
| What exactly is product management and why your should care TL;DR + Long form Posted: 01 Dec 2018 02:43 AM PST Tried to logically and clearly break this down, I think it'll be most useful for non-PM founders, but not only. Would appreciate your feedback and thoughts. What exactly is Product Management — TL;DR + Long form TL;DR Building a great product is one of the most, if not the most important thing you have to do ← This is why you should care If you don't get this right, your business is doomed. A great product is built of 3 parts: serving a need, for the right audience at the right moment (need, audience, timing). Any product is a result of a process (including your product). Your process has to try and figure out the 3 parts. The process of trying to figure out these parts is called Product Management. While Product Management is not science, they are concepts, methodologies, techniques, tools, and terminology we can use, to practice it in a more deliberate, controlled manner (you don't have to figure it out all by yourself, and it doesn't have to be only intuition, and gut feeling). This doesn't mean you need a Product Manager role. Next post will start unpacking the process. In the article I dive deeper into each section, and wow a couple of smart ppl. Please share your thoughts and comments. Thanks! [link] [comments]  |
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