Startups Weekly Feedback and Support Thread |
- Weekly Feedback and Support Thread
- I'm a newly-anointed CEO of a small company with 900K ARR. I own ~10%. How much should I pay myself?
- What is it like being accepted into a Techstars accelerator?
- What equity/salary should I expect?
- Quick question I have for a school project that involves designing my own start up
- Can I use losses from my side-project to reduce my taxes?
- How much equity do I deserve?
- Has anyone ever been a part of adult industry
- Just discovered that the board want to use the traction of the software I developed, to ask money to rebuild the platform in outsourcing
- Best approach for quick legal advice on a co-founder proposal
| Weekly Feedback and Support Thread Posted: 22 Apr 2019 04:07 AM PDT Create something? Let's see it! Feedback or Support RequesterPlease use the following format:
Post your site along with your stack and technologies used and receive feedback from the community. Please refrain from just posting a link and instead give us a bit of a background about your creation. Feel free to request general feedback or specific feedback in a certain area like user experience, usability, design, or code review. Feel free to request support with hiring talent, finding a job/clients, recruiting a co-founder, getting your pitch deck made, or anything objective based that is specific to your startup. You can also receive advice and feedback in instant chat using the /r/startups discord. Feedback Providers
Support Providers
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| I'm a newly-anointed CEO of a small company with 900K ARR. I own ~10%. How much should I pay myself? Posted: 22 Apr 2019 05:42 PM PDT I was the first employee at a startup and founders have left to pursue another company. I recently moved from Director of Sales and Operations and am now CEO and leading our team of six. Cliffs:
Our company has a culture of being an incredible place to work, and so we have settled for paying ourselves low salaries, and I want to change the latter fact, so I am redesigning our compensation for myself and the rest of my employees.
If I had to come up with something on the back of a napkin, I would say
I've never been in this position before, so I was hoping for some guidance from others on if these numbers seem accurate for a CEO of a small company. [link] [comments]  |
| What is it like being accepted into a Techstars accelerator? Posted: 22 Apr 2019 01:34 PM PDT My team and I are patiently awaiting a response after a final round of interviews, and we want to set our expectations here. Logistically speaking - what happens what you get accepted? For example, do you always get a phone call, or sometimes are they sent over email? Everything we read says you get a call on a saturday. How long did you have to wait after the final round before hearing of your acceptance? What type of diligence happens after being accepted? Were you accepted into a vertical program or a city program? Thanks guys! [link] [comments]  |
| What equity/salary should I expect? Posted: 22 Apr 2019 08:33 AM PDT Hey there, Need some advice on how to proceed with a startup I've been working with. 5 months ago I was approached by a friend with a startup that already had some angel funding (~1 mil). He asked me to build a web app which is very important for the company. The goal is to create a web application, get some traction and then go after series A funding. He said that I'd receive equity in the company as well as a healthy lead developer salary when series A comes around. I still haven't signed any documents at all, meaning all of the code I wrote is still mine. Now, I've built the web app for the most part and we're moving into the "gaining traction" stage. As we gain traction, I want to define what my salary and equity stake will be. Any thoughts/advice on what I should expect? Keep in mind that I'm the sole developer and the web app I built is essential to the businesses success. Another question: how should I go about getting this stuff in writing? Before I sign my code over, I want to be sure I'm setting myself up well. Thanks [link] [comments]  |
| Quick question I have for a school project that involves designing my own start up Posted: 22 Apr 2019 12:28 PM PDT Hey guys, hope everyone is having a good weekend! For a school project, me and my team have to create our own business and answer questions. Our business/product is iPhone cases made of plastic and other waste materials from the ocean. My role is in team management. Here is my prompt:
So far, I kind of have a very rough draft and what I will discuss: The CEO- Head of everything, in charge of all operations and meeting with clients. COO- In charge of the production and marketing of products. Reports to the CEO CFO- In charge of all the financials. Manages money for wages, resources, machinery, etc. Additionally, I think I need to hire someone as a designated person for all the marketing and advertising. We also need someone to be in charge of being in contact with large manufacturers. All people I expect to be graduates of the college, with skills/degrees in Marketing, Business Administration (?) I think we need a small business consultant, who will further assist in operations. Additionally, a lawyer (?) and an Engineer to design/make/test the case. Is there anything I need to add to each role? Does each role make sense? Do I need more roles? What kind of skills does each person need? What would you guys add? Thanks so much guys. DISCLAIMER: I know its lame to ask you guys to do my whole project, I am just asking for input/advice because I want to get a good grade and not let down my team. If you guys know any resources or information I can use to learn more about management for an iPhone case company, let me know, thanks ! [link] [comments]  |
| Can I use losses from my side-project to reduce my taxes? Posted: 22 Apr 2019 09:00 PM PDT I know I should talk to a CPA/lawyer, but I want to get a general feeling about this idea. I have a side-project that is more likely going to turn into a startup. This year, I'm going to be in a high tax bracket (from my full-time job), so I have this idea of creating an LLC for my side-project and invest heavily in it (hiring a few employees, purchasing some products, etc.), to offset my taxes from the losses. It that possible? Is this tax evasion or smart "self angel investing"? The idea is basically to invest as much as possible this year since I plan to quit my job at the end of the year to focus solely on my startup. [link] [comments]  |
| Posted: 22 Apr 2019 02:49 PM PDT I'm about to receive an offer from a bootstrapped startup that is 9 years old. The CEO and CTO are bringing me in as the VP of Technology and expect me to lead the company through the sale of their organization and into the future. Would it be reasonable to ask for equity in this position so that I can be more motivated to get them "sale ready"? I'll be adding process and creating vision for the future that ultimately helps with the sale. I also want the day they sell to be exciting for me and not just the day that I lose my bosses. What is a reasonable amount to ask for here? The company had over $10M in revenue last year and will be growing this year as well. Any other good ideas for requests I can ask for in this position? [link] [comments]  |
| Has anyone ever been a part of adult industry Posted: 22 Apr 2019 11:11 AM PDT I got tired of other industries so I decided to try with adult industry. For me it's interesting and not much is being invested in it. I think there is a lot of place for improvement and for introducing something, especially now when IG, FB, Twitter, Tumblr are banning adult content. I think there is so much that is undiscovered there and covered with prejudices. I agree that in adult industry content rules but I guess there is a lot of to be fixed aswell. Has anyone ever been a part of it? Is there any advice you can give me? [link] [comments]  |
| Posted: 22 Apr 2019 01:02 PM PDT I'm the original developer and technical leader of a platform, developed 10 years ago. We want to scale, so I proposed a step by step refactoring of the current software, that could lead to improvement and further scalability. Now I discovered in reality that the board want: - to pressure me to show customers growth with the current platform, without adding resources for infrastructure or developers (we are 2) - ask for funding based on current performance - using the money to rebuild completely the platform with an external contractor. - They think I should keep the current platform running until end of life. It's not clear who is the external contractor yet, nor if there is an internal PM dedicated to project. I would be completely qualified to do it, as I have skill and knowledge of the existing platform, but of course maintain and support and increase current customers it's a full time job, so I won't be available. It was also mentioned that after the development of the new platform, only one IT person would be needed inside the company. I have very few stock options and I'm a "member" of the board. I don't understand how to deal with this situation. A brawl at the next board meeting? A quiet refusal? ask for guarantee? which kind? [link] [comments]  |
| Best approach for quick legal advice on a co-founder proposal Posted: 22 Apr 2019 09:23 AM PDT Hi guys, Sorry about asking what may be fairly obvious, but I'm wondering who I should seek out to review a founders pledge I've received. It has a certain amount of equity as co-founder of a startup, and being the technical half of the partnership, who will be building a full app, I'd mainly like to make sure that:
I trust the guy, and we work well together so far, but I know how things can get when money's involved. I'm hoping I could send the contract to a legal professional for a quick response, but I don't know where to start in honesty (as you can probably tell, I didn't really expect this kind of offer and haven't fully prepared to consider it)! Would really appreciate any recommendations - thank you. [link] [comments]  |
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