Startups Weekly Feedback and Support Thread |
- Weekly Feedback and Support Thread
- Negotiations on startup acquisition
- Are stock options an incentive for you to take a job at a startup?
- Registering online service provider business in US from Canada
- How to validate questionable app idea
- How to start-up in a domain where you have no experience?
- Same VP for 2 companies
- Early stage disputes
- My Startup Experience
- Informal meeting with someone from an incubator -- how can I best benefit from this?
| 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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| Negotiations on startup acquisition Posted: 28 Apr 2019 03:49 PM PDT Hey guys! Not so long ago, our team has started negotiating a potential acquisition of our startup. It's very early-stage and pre-revenue product but we managed to find a synergy with the market leader and got an offer. However, there are some points that I'd like to put some light on:
Would really appreciate your thoughts on this! Thanks! [link] [comments]  |
| Are stock options an incentive for you to take a job at a startup? Posted: 28 Apr 2019 12:22 PM PDT I've got a newsletter that focuses on remote roles with early-stage startups that offer equity. (I find out about these roles from conversations with founders that just closed a round of capital) Recently, I've seen some criticism on Twitter of equity as compensation for roles at startups. I started the newsletter because I'm of the belief that remote staff, just like on-site staff, should have equity exposure to the upside of a high growth company (in addition to salary). All things being equal, would you take a job at an early-stage that offered you stock options versus one where they made you an equal offer but with no equity? [link] [comments]  |
| Registering online service provider business in US from Canada Posted: 28 Apr 2019 02:18 PM PDT I have an online business that I need to register in USA. I am a permanent resident of Canada. The business is entirely online and nature of business is B2C service provider. I need a physical address in US to register the business. I am planning on getting a mailing address in order to proceed with the registration in one of the major cities in USA (I am thinking between New York, San Francisco or Chicago). But before doing that, I would like to know if there are chances of having site inspection for a business of this kind? If so, how can I proceed with the opening of my business? Also, do I need a US visa of any kind to proceed with the registration? I would like to follow and do everything properly so I don't have to deal with major issues at all, hence, please let me know if there are any potential issues or scenario I might have to deal with during or after the process that I should keep in mind? [link] [comments]  |
| How to validate questionable app idea Posted: 28 Apr 2019 05:46 AM PDT I have an idea for a new spin on a dating app I'd like to validate, but it's of a questionable (though perfectly legal) nature. I can't really start with friends and family, since I probably wouldn't get straight answers. I thought about posting in a "relationships" subreddit, but the mods likely won't allow it (they haven't gotten back to me yet). I know the dating app field redefines the word "crowded", but I need to figure out a way to see if this is a decent idea. If nothing else, it'd be fun to build. Any thoughts would help! Edit: the r/relationships mods said no. [link] [comments]  |
| How to start-up in a domain where you have no experience? Posted: 28 Apr 2019 10:18 PM PDT In my sophomore year of college, I was desperate to start-up on my own, that too, I wanted to build a product instead of providing a service. I took a VERY wrong approach of fixing a tech I wanted to build my product around and then look for the problems it could solve. That tech happened to be blockchain - because, it sounded cool and also, you could read about young blockchain startups raising ICOs pretty easily. Big mistake. It took me almost a month to realise the limitations of blockchain both as a tech and a solution in almost every industry. I studied blockchain in and out, but failed to come up with a single implementation of blockchain that could solve a real world challenge. Eventually, I realized that there were tons of blockchain based companies which do solve some major industry challenges. It was just that I couldn't even realise the problem itself. So my question is, being a student who hasn't worked in any specific industry ever, how can I even figure out the problem that needs to be solved? Gaining experience at job is an option, but isn't there any other approach? Thanks. [link] [comments]  |
| Posted: 28 Apr 2019 07:45 PM PDT Hi all, first time doing a start up here! We currently have a 3 person army to make this work. Our business is geared towards providing touring services. We registered as a small business in Washington DC and NYC. The applications indicated that we need a president and VP for each company. Given the fact that we have 3 people to spare, we wanted to setup the two businesses such that each one has a unique president and have the third person be VP in both companies. Is an individual allowed to be VP in two companies in different states? (The branch will not have the same name due to treadmark issues) [link] [comments]  |
| Posted: 28 Apr 2019 07:33 PM PDT I'll try to keep this short and simple. I was approached by a friend back in January about a music based software platform. Our roles were to be, I take on the creation since I am a software dev by nature, and he was to handle the business side of things (file LLC, raise capital, find musicians). Fast forward to now where he has failed to do all of those things, making myself found the LLC independently with 100% ownership. My question would be what would a proper equity spilt be, if any, should I manage with him. I am his friend of course but I'm not sure how to resolve this issue. Thanks for the help in advance. [link] [comments]  |
| Posted: 28 Apr 2019 06:40 PM PDT Almost 5 years since I turned my Ph.D. thesis idea turned into a startup idea. How far have I gone? Well, it's still a startup idea. I left the business world in 2001 to the world of education. I realized I enjoyed teaching when I was in business. I never strayed too far from business, I read the news and I see the trends. I thought perhaps I should teach business to future entrepreneurs. I enrolled in a Ph.D. business program at a top university in Busan, South Korea. My advising professor was very keen about Social Enterprise (SE). He is definitely a pioneer for the development of SE in this country. Fast forward 10 months to spring semester 2015, my friends helped me with a graduation thesis and I made an immediate presentation to my professor. After the presentation, he said "This is not a researchable topic. This is a business plan." I was bummed. Thought about it and decided to pursue the business plan aspect of it. I researched about starting this business idea. It has been a while for me to write a business plan and make a business presentation. What I learned in my research is that so much as changed. Business presentations are now pitch decks. And we don't go to banks anymore for business loans, we go to Angel Investors or Venture Capitalist. It seems that business incubators that were usually sponsored by the Small Business Administration have been ceded by seed accelerators, pre-seed accelerators, and startup accelerators. The whole world of starting a business has surely changed, I was stunned. On the surface, I was just reading the business news headlines. The good and bad about the economy, the politics that help or hurt businesses, the unemployment report and things of the sort. I did not know what was going on below the surface of this business news. For example, Bitcoin. When I finally did hear about it, I was too late to get into the market. Perhaps like many of us, we were too late to invest in Yahoo. This new world to me about starting a business had me at "Startup Founders." Essentially, I learned that is what I have become, a startup founder. I did three things at the same time, worked my day job, polished my idea and researched this new world of business startups. I did well at my job, I did well to polish my startup and I learned about Y-Combinator accelerator. I thought that my startup idea should get me in the door to my first accelerator program. After all my startup idea had a very noble and good social cause. (our insolvent retirement problem) The startup idea fell into one their business category; Financial Services. And the startup idea has global scalability. Well, after three tries my startup idea was just not enough to convince them to accept me. In-between those three tries, I've applied to other accelerator programs and continued my due diligence to learn as much as I can about this new entrepreneurial world. I learned that you have to have a team. Many accelerators don't accept single founder startups. I'm a business minded person, so I needed a tech person who would be able to do coding and/or web/mobile development. In Korea, because of my limited Korean vernacular, this became a challenge. And since I was tackling a big issue, it was even more of a turnoff. I am having difficulty forming a team for my startup idea because of… well… the project is huge, multifaceted and it would involve educating the market of a new retirement system. A new found friend gave me an idea to do an Initial Coin Offering (ICO) to fundraise my project. Cryptocurrency is not new to me anymore. In fact, cryptocurrency would have its place in this new startup of mine. The process to begin an ICO project to fundraise begins with at least a $25,000 starting. I don't have that lying around. But I still proceeded with writing a 'Whitepaper' for the project. It is the business plan for starting a cryptocurrency. Still, the seed money to start an ICO launch is at the least $25,000 away. Launching an ICO would benefit this project and give it legs to walk and later run. Many ICOs, in my opinion, are redundant these days and the project for the coins doesn't make real sense. With the exception of a few. Some ICO projects are worth looking into like PledgeCamp and Solve.Care. But, some recording breaking ICOs like FETCH or KAKAO TALK that raised crazy millions of dollars were backed by Big name companies. While the first two I mentioned are really trying to solve real-world problems. The second two names are solving problems too, but the social value for society are two different measuring sticks. I prefer projects that solve social problems like mine. The problems I have getting to launch seems like they are all huge problems. There are certain 'Don't Do' rules in the 'startup' world. One of them is 'Don't' spam or cold email your 'Pitch Deck' or business plans to an investor. People who write or give speeches on Youtube advice against this. They suggest looking for a warm introduction or a referral to an investor. I'm in Korea, and I don't have a network of referrals to introduce me to an investor. Tough luck for me. Korea and I am sure other Asian or South East Asia countries are also notorious for scalping business ideas. Truthfully there are genuine good Korean investors. But, I am strongly inclined to begin this 'startup' in America. Not having a tech person is also a hindrance. I understand the value and the need for a tech person can bring to help launch this project. The problem is the tech person also can't leave their paying job and work for free. Another thought I have is, I would like my future mentor/investor to also have a say who the tech person should be. If I chose a Korean tech person and the business needs to be born in America, I feel the distance would cause a problem. There is a higher level of comfort working with a team side by side than working with a co-founder overseas. While I'm awake my co-founder would be sleeping and vice versa. Getting through to accelerators is very difficult. The referral system works great with accelerators too. If I could meet a CEO who graduated from an accelerator, then maybe I can get a warm referral or introduction to an accelerator but that is not guaranteed either. Filling out their lengthy thought-provoking application will give insight to the founder but because there are too many applicants, getting feedback as to why we were not accepted is not going to happen. Fundraising from friends and family to get started was another suggestion I read. There were many suggestions actually, about six to 10 different ways to get funding outside of accelerators. But many of those web articles just wouldn't apply to an expat with a startup idea. For example, a foreigner getting a bank loan is tough without having roots or collateral. And my social network of friends and family are not financially rich to afford the risk that comes with investing in a startup business. Everyone knows statistically that 80% of new businesses fail in 18 months. I am still determined to get my startup idea funded whether through an investor or an ICO. I believe my project can help millions of people worried about their retirement finances. This startup idea can also help cities and nations rally their economy towards growth and stability. I have been encouraged by the many individuals who have heard my pitch to not give up because in a word they have 'Validated' this startup idea of mine. For the entrepreneurs who are feeling frustrated for the countless rejections or difficulties they are facing, I can only offer words of encouragement and keep your 'hopes' alive and strong. It is no joke trying to be a startup founder. It is and will be a challenge going forward. And for those who have succeeded, I implore you to 'Pay it Forward' and try to make yourself available to help the little unknown founder. I just submitted my startup idea to another accelerator program, that only accepts 5 startups from over a thousand applicants. Reflecting on this moment I felt inspired to write about my experience thus far. I pray that this will be my last application to fill out, until I complete at least one accelerator program. Thanks for reading. [link] [comments]  |
| Informal meeting with someone from an incubator -- how can I best benefit from this? Posted: 28 Apr 2019 10:18 AM PDT I'm currently a final year PhD student. I've had an idea for a fintech app/company that I've started developing the backend for, and reached out to some resources within my university's various "entrepreneurship" and "innovation" arms. Someone from the university incubator got back to me and we have arranged to meet. They said they were currently working with some other fintech companies, and they were deep in discussion with the Financial Conduct Authority to ensure they are all good as far as regulation goes, so they are well placed to advise me whether it's a viable idea, etc. I'm not yet at a stage where an accelerator would be worthwhile, so this is less a sales pitch and more me just picking their brains. That said, I'd obviously like to make a good impression. I've already done some market research, but I've not gone so far as making a pitch deck etc. I'm not even sure a pitch deck would be appropriate given the context. What can I do to prepare so as to ensure that I maximise the opportunities presented by this meeting, both in terms of getting feedback, and networking [link] [comments]  |
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