Startups First to take steps when the first co-founder joins the project? |
- First to take steps when the first co-founder joins the project?
- React Native or Flutter
- Co-founder and startup location issues.
- Please help with Discount Cash Flow Analysis and valuation
- What to do about idea theft
| First to take steps when the first co-founder joins the project? Posted: 05 Jan 2019 06:57 PM PST I've been working on this side project which consists of a website and a mobile app for about 2 years on/off. I have gone out to local businesses and have about ~12 people and counting to beta-test. I have conducted customer interviews and surveys which show some initial validation of the idea. Costs are $40 a month with a few thousand users, no revenue will be made, but it will be made immediately upon launch assuming success. My beta-testing will take roughly 1 year with the deadline I have set. My partner will be doing marketing, design, and customer relations. I will be fronting most of the work and all of the software. I will most likely be able to launch both the app and website this year. I have formed a LLC. What are the most important things I should do when "hiring" the first co-founder? I'm a college freshman, and my potential co-founder is a junior. We're both interning at the same Fortune 50 company this summer. I'm pretty sure we're on the same page ethically, and I'll discuss that with her. The problem I have is that we're both college students, and this is not really a company in of itself. It's an early-stage project with some validation. I can't really offer her much in terms of finances, but she doesn't really care about that. However, I do believe I should discuss how things would proceed in the future. [link] [comments]  |
| Posted: 05 Jan 2019 07:41 AM PST I have spent the last couple of weeks learning programming basics (HTML, CSS, javascript) because I want to be able to code my MVP (mobile app) myself, or at least have a very good understanding for when I'll need/find a technical co-founder. Cross-platform development seems like the right way to go and I am still undecided if I should learn Dart and start off with Flutter or use my new javascript knowledge to learn React and go for React Native. I am still comparing both but would like some feedback from anyone who has been through this decision process recently. Has anyone been comparing these two technologies lately and is willing to share their personal preference and the reasons for it? Especially for a beginner to get his app out there as fast as possible. [link] [comments]  |
| Co-founder and startup location issues. Posted: 05 Jan 2019 08:29 PM PST Hello, I am marketing student in Sydney-Australia. And I am looking for technical co-founder. However, I have an idea that I don't really like to live here. Maybe because everything is expensive, Sydney is too big city for me, etc. My dream right now move to startup's NBA area - Silicon Valley. The startup is still in early stage. But some validation processes already approved. I have prototype, brand, website. Also, I could invest ~10k. So should I : 1. Live in Sydney and search co-founder here? 2. Search co-founder overseas and collaborate remotely? 3. How VC look at people from overseas when you ask founding? I mean VISA status, etc. Please share a story or advice. I really appreciate it! [link] [comments]  |
| Please help with Discount Cash Flow Analysis and valuation Posted: 05 Jan 2019 06:36 AM PST |
| Posted: 05 Jan 2019 10:14 AM PST I know what people say, "ideas are a dime a dozen, it's the execution that matters" "no one will steal your idea" etc. and I listened to that, so I thought it would be no dilemma to disclose ideas to someone my cofounder and I were planning to work with. Well, I made a mistake by not asking them to sign a non-disclosure or non-compete, and I did disclose quite a bit (some over a Skype call which is unfortunately not saved, but most of it is in writing) of ideas that regard the execution, not just the general idea. What ended up happening is that he was to develop a prototype of a feature, and then we would consider splitting equity to have him continue. But what he created was crappy and took a bizarrely long time to complete very little, so we broke it to him we didn't wish to continue working with him - I didn't want to say it was due to a low quality product, I said it was due to not wanting to split equity so much this early on (not really true, just thought it would be nicer). This is the part that especially annoys me - I've submitted a grant proposal to an organization and I discovered that he has as well. His is online so I can read it and probably at least 50% of it is just the same thing as what we were pursuing, with some lies in it to hide that he worked with us at all (like "where did you get the idea to work on a startup?" The correct answer is "he wasn't going to until he saw I was, he told me that straight up during the Skype call" but he says some other bs). He also wouldn't have even known this grant existed if I hadn't mentioned it. I know from my experiences dealing with him he's the kind of person who really knows how to talk the talk but doesn't do anything particularly great in the end. He really talked up what he'd be able to do with that feature we were discussing and then his code was just absolute garbage. I'm especially annoyed because with such a glib personality, there's a possibility he could get funding and then deliver a piece of shit in the end that I would have done better with. I'm kind of pissed off about it, I don't know what my best course of action is. Informing the organization we submitted grant proposals to might just make us both weaker candidates 'cause it makes it seem like there will be some drama there that they don't want to deal with. I don't know there's any such thing as an implied confidentiality that was breached since it was details about execution of our idea that he not only took from us but also put them online. [link] [comments]  |
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