Startups Fear of Launching (or more specifically, Fear of Being Overwhelmed/Burning Out) |
- Fear of Launching (or more specifically, Fear of Being Overwhelmed/Burning Out)
- What are the most important things for founders/cofounders during the early stage of their startup ( apart from funding)??
- Finding Co-founders - South West London
- When do you need to register your business with the government?
- Making subscription more affordable
- What's the current state of the early-stage investor market for consumer apps?
- Help monetizing an App!
- Third time on here with another plan. Third time's a charm, right?
| Fear of Launching (or more specifically, Fear of Being Overwhelmed/Burning Out) Posted: 17 Apr 2019 01:20 AM PDT I'd describe myself as a serial entrepreneur and maker, having built and sold two startups (the last one about 5 years ago). The last one was a harrowing experience of building, fundraising, and burning out, hard; it's what I tend to call dismally successful. I've built up three or four software products, over the last few years, but when it comes to commercialising, I always seem to come to a grinding halt. I've realised that I'm probably gun-shy, and afraid to pull the trigger, lest I be overwhelmed and burn out again (as the last time had pretty serious impacts, in my life). I finally appreciate how important it is to maintain a work/life balance (even if it's slightly skewed), when launching a startup. Has anyone else here ever burnt out and then felt afraid of the overwhelm and responsibilities that come launching a startup? If so, how did you deal with it? [link] [comments]  |
| Posted: 16 Apr 2019 11:37 AM PDT Since this January I am focused on building a startup and if everything goes as planned, it will be live around July. What I have understood so far is that nothing ever goes as planned.The more research I am doing to find answers in a lot of questions the more questions come up, which is great and makes everything much more interesting . My question to all the startup owners, or people who have more knowledge than me in the startup scene, is what are the main things that I should care about and need, during the first steps of my startup? Apart from finding investors, what should I focus on getting that would make my startup better, more successful and well known? [link] [comments]  |
| Finding Co-founders - South West London Posted: 16 Apr 2019 05:28 AM PDT I've been working at a start-up lending for 3 years and was instrumental in setting it up, before that i developed a high street lenders automated backend decisioning platform. The last year or so has seen me thinking about taking this experience and what i perceive to be a high tech niche to fully automate certain types of lending. The idea itself is fairly well developed, however, the more i get into the detail, more i'm becoming aware that i simply can't do this task on my own. Whilst i have a few ideas of how to fond people to join, what i'm asking is, does anyone here have any advice on how to find such people. Obviously, ideally looking for people that have knowledge of dev ops, preferably front and back end. Understanding of lending and finance is also highly desirable. [link] [comments]  |
| When do you need to register your business with the government? Posted: 16 Apr 2019 06:06 PM PDT I have been growing my side hustle over the past 4 months now and I am trying to figure out when I need to register it with the government and turn it into its own business tax entity. I am now making ~$10,000 per year in revenue and I am still expanding it rapidly, especially this past month. I was never expecting it to start growing this quickly but I was able to work out an agreement with my parents that when I come home from college this summer they won't make me get a job so I can focus on my business. This will probably only make it expand faster. Should I be looking into creating it into an official business soon? After how much revenue are you suppose to do that? Any help would be much appreciated. I am young and naive to this whole thing, I am just trying not to get audited or get in trouble with the law. [link] [comments]  |
| Making subscription more affordable Posted: 16 Apr 2019 04:40 PM PDT Tldr: I'm thinking about changing my subscription "box" model from $49 every 3 months, to $25 every month to make the upfront cost more affordable to the customer, but the majority of product is (and has to be) in the first box. If customers cancel before month #2 we lose money. Are there any other startups out there who have made creative pricing work for them? Hi Everyone! I have launched a subscription-based start up (like Hello Fresh but for a different industry) . We have received positive feedback about our concept and through market research, but the price is a bit expensive and I'm afraid that might be holding us back from growing faster. I don't have hard evidence that this is the reason we aren't flying off the shelves, but we have a strong amount of followers on Instagram considering we launched last week and good amount of visitors to the website, but conversions aren't as high as I would expect. The product is currently listed at $49 every 3 months (for $200+ worth of product and expert advice). I was thinking about a way that we could reduce the price to $25 and have it charge the customer every month ( to make it more affordable upfront). My biggest concern,though, is that the initial box cost us about $40 to make because our volume is low. And so if somebody cancels on month two or three, we will lose money. We could send them additional products worth $80 to complete/compliment their initial box on month #2 and #3 to incentivize them to stay, but they could easily cancel regardless because they have the bulk of the value on month #1. Are there any other examples of other startups who have created creative pricing for a subscription membership that is similar to this? If anyone has constructive ideas, I would love to hear! I've already invested $30k and one year into the business so if you're comment is "quit", I respectfully ask that you please don't comment at all. Thanks everyone! [link] [comments]  |
| What's the current state of the early-stage investor market for consumer apps? Posted: 16 Apr 2019 03:14 PM PDT I'm getting the sense that B2B is all the rage right now with early-stage investors, and that consumer apps are viewed with a LOT more suspicion/less enthusiasm. Is that right? And, if so, what's the reason? I'm wondering if it's just that a lot of investors were burned years ago by content-heavy apps that were going to monetize through advertising before that market blew up, but I'm looking at the top-grossing apps, and it seems like a lot of consumers are willing to directly pay (through subscriptions or IAPs) for solutions/etc. So it can't be that, can it? [link] [comments]  |
| Posted: 16 Apr 2019 01:52 PM PDT Hello guys, first of all thanks for stepping by, now here's the deal: I have this idea about developing an app in which you buy in-game currency, for example a coin. Each coin can be used to enter a game with some more people that used a coin too. The game consists in a random lobby with almost no player interaction that shows you the process of how one player randomly wins, the winner takes all minus a little fee and he can go on playing in different lobbies, If he reaches a limit like 10 coins, he can start a claim process and get the money back deposited to his card. So I've been wondering:
I have been looking for information but its kind of odd, and English is not my native language so if any one could point me in a direction I would be very excited! [link] [comments]  |
| Third time on here with another plan. Third time's a charm, right? Posted: 15 Apr 2019 08:01 PM PDT So after 2 posts of people basically telling us we'll fail and to let go of our ego, we'll try once more. We apologize for any "violent" or defensive replies on the last post. So we've tried to be as objective as possible this time. We've taken into account every single comment in the last post, made the important stuff a priority and left the less important stuff out. If you're new to our misadventures, we're in the process of learning how to found a company to, hopefully, sometime next year, launch our very own user generated content video sharing platform to compete against YouTube. The new plan consists of this: -Build an initial, basic prototype (or MVP) ourselves with a visual code application so we don't go around asking people for money empty handed -Run polls, surveys and other forms of data collection strategies on the internet without using money to start and use prototype to get some initial qualitative opinions on the UI and UX, functionalities, systems... -Also ask professionals in the field (a.k.a. youtubers) about the state of YouTube and ask them if they would move out of the site if things got worse to (sort of) prove our value prop -With all of this, finally collect the first seed investment round sometime in Summer 2019 with either an incubator or an angel -Hire a marketing team (because we have no idea what we're doing) to set up a network of contacts with youtubers and big media outlets (also set up a patreon) -Hire professional programmer(s) to make a semi decent MVP to build upon later -Buy server space in either Azure/AWS or make our own "datacenter" -Get exposure through youtube ads, deals with content creators and other tactics -Launch MVP by whatever date from December 2019 to March 2020 with basic functionalities -Get initial traffic thanks to the deals with youtubers -Test and improve the site over time -Series A round with a VC firm which will remain unnamed We are also looking into making a site only for science and educational channels as someone told us to look for a niche market and attack there. What do you think is a better option? Should we attack the whole of YouTube at once or should we focus on one type of video? Will the creators want to abandon YouTube regardless of views? We know we'll have to do some convincing. Thanks! [link] [comments]  |
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