Startups Fundraising Thursdays - A Forum to Ask About Fundraising, Investors, Accelerators, and Other Sources of Capital |
- Fundraising Thursdays - A Forum to Ask About Fundraising, Investors, Accelerators, and Other Sources of Capital
- What is the best way to bring a hardware product to market in 2019?
- How do you track accounting & finance?
- Am I approaching relationships wrong?
- Advice needed: Have an offer but the Founder raises several red flags.
- Financial firm wants to use our product but asking for "information security review" before signing contract
- If you were starting again...
- SaaS valuation vs. services company
- Is this a reasonable request from my bosses?
| Posted: 30 May 2019 06:06 AM PDT Welcome to this week's Fundraising Thursdays Thread. Ask about anything related to fundraising, investors, accelerators, grants, and other sources of capital. That includes how to find these sources, how to work with them, and how to negotiate with them. Don't be shy. The purpose of this is to learn and share ideas and methodologies with one another. Any question is a good question! If you are answering questions, remember to be kind and supportive. Many are just starting out and have no idea what they are doing. That's okay! We all knew nothing before we knew something.You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| What is the best way to bring a hardware product to market in 2019? Posted: 30 May 2019 05:03 PM PDT My team is in the super early stages of our project, and it's important to have a plan to follow. Crowdfunding seems like the perfect platform, as you get to put your project in front of a huge audience of early adopters. I may be biased because I personally enjoy looking at trends/ new things people are working on. However, I've noticed that a lot of these projects fail, not in terms of funding but in actually delivering their product. To me, crowdfunding sites have lost a lot of credibility in the recent years. I personally wouldn't contribute to a campaign for this reason. It's concerning, and kind of sad. For a new company developing a hardware product, is crowdfunding the best option? Are there other/ better alternatives? [link] [comments]  |
| How do you track accounting & finance? Posted: 30 May 2019 08:03 AM PDT We have 2 type of needs (I believe one is accounting & the other is finance);
When we track the first one we lose some data. Like Most of our sales are done on December but the money comes to the bank on January or February. We're just a 2 person team so we don't need anything big. We're just using a spreadsheet tracking revenue from Stripe, Adinplay, Ad Deals, Adsense, Donations etc.. How do you track all of these? Do you use different spreadsheets for Finance & Accounting? Can you share examples of your sheets? Thank you [link] [comments]  |
| Am I approaching relationships wrong? Posted: 30 May 2019 08:45 PM PDT Hey everyone, So I am a third year University student attending a decent college for Comp Sci. Unfortunately, I don't believe I have made the most of my journey here. I know some people in my CS pod, but I can't say i'm close to any of them at all. I have kept my distance from people since I am afraid of being dragged down by people whose only goal in life is to get good grades and be Software Engineer or Product Manager for FAANG. My girlfriends dad, who is extraordinarily financially successful, told me he didn't find any good friends until he was 25. I don't know how ridiculous of a thought this is if my goal is to build a successful company, create a tremendous amount of wealth, and change how the world works. It seems like the right idea, I won't be dragged down by less ambitious people, but to be honest I feel really lonely not being close to anyone. I just haven't found anyone who wants to change things like I do yet. The 2 people I have gotten close to distanced themselves from me, likely due to my intense personality and ego. Those who were / are building companies of any size: (Please be honest and harsh. You can call me arrogant, but I already know that. I was bullied a lot in high school for it.) Am I an idiot? Why / Why not? Is this the wrong mindset? Why / Why not? Who did you surround yourself with? What did you talk about? How should I find friends? Thanks guys and girls. [link] [comments]  |
| Advice needed: Have an offer but the Founder raises several red flags. Posted: 30 May 2019 08:17 PM PDT So, I'm an under undergrad and there's this guy who took a break from college to start a business selling stuff. He's not doing some dropshipping hustle but actually got a license to import industrial stuff and sells it to people. Currently he takes orders through calls and is looking to expand it into an online store for people to browse his catalogue and place import orders with him. He looked for people to work on the web-app and eventually reached out to me. Now I'm no Woz or Zuck, but still if you want me to make a simple site or application, I'm confident I can work on that. I asked him more on that and further talks showed he was highly unfamiliar with software development. A single talk with him raised several flags, such as:
It took a good 3-4 hour talk to get some points across and make him budge and accept open source, but even then he seems a tough person to work with as he doesn't easily move from his beliefs. But looking only at his business seems to be doing fine, he showed me some bills and he's had revenue of around $45K in last 7-8 months. I on the other hand have nothing much to do. I live at a place where kids doing part time is not a thing. I wanted to do some work over internet but nobody wants a college dude working remotely with you. I tried reaching out to people but lost the drive after 15-20 sent emails with to response. With this guy in picture I feel like I can give it a shot and see what happens, but at the same time am paranoid with working someone so difficult to deal with. I want to hear opinions on what can reasonably done here, should I give it a shot and work with him or refuse the offer [link] [comments]  |
| Posted: 30 May 2019 08:08 AM PDT Hey all, About a day ago, we got a client looking to host some content on our platform but have requested more than the usual information. While most of their inquiry questions where standard, i have no clue how to respond to "Are you willing to do information security review before signing the contract? ". As startup, my first thought is this will cost a lot of time and money for not enough gain. Has anyone here ever experienced this? How did you handle it? [link] [comments]  |
| Posted: 30 May 2019 04:14 AM PDT Imagine you were: • In your twenties • You have university level education - nothing that would directly lead in to a job (not medicine, engineering, law etc) • Your living costs -rent, bills, food etc are covered • You have £1000/ $1250 / €1150 spare in the bank • You have five years of work experience in a number of different sectors but no current job ... what would you do? Seek employment? Use this opportunity to start a startup? Doing what? Seek a franchise? What would you do and where would you start? (This is hypothetical, I'm not desperately seeking life advice) [link] [comments]  |
| SaaS valuation vs. services company Posted: 30 May 2019 04:06 AM PDT Hi all, My company is going into Series A soon, and we're looking for a way to pull out the best valuation possible. SaaS multipliers are by far the best in the industry and we are both an SaaS company and services company. What I'm looking for are some examples of companies that have done something similar... used an SaaS model to improve their valuation. Questions I'm hoping to answer are: - How is a company classified as an SaaS company? What needs to be true? - Have there been any companies that have switched industries, if so how? Any direction is greatly appreciated! Cheers [link] [comments]  |
| Is this a reasonable request from my bosses? Posted: 30 May 2019 03:38 AM PDT I've been working in a SaaS startup as a sales rep for over a year now. Sales team consists of my 3 bosses, of which 2 are the business owners and me. We don't really have a quota. The company has monthly expensives of ~50k so we basically just need to make as much sales as possible to stay in the positive. Thing is, the company has been struggling for quite a while. We've been missing our goal by 20-25k for the past 3 months and noone seems to be able to figure out why. Well, I got laid off today because I'm the weakest performer in my team. I understand why they did it from a business perspective, but I'm confused by the reasoning they gave me. In their opinion, I'm not a bad salesman by any means and they mostly blame it on the product being difficult to sell and the customers in that industry being very hard to deal with. Sales cycles are 6-12months for a 5k€ ARR product. But according to them, the reason they can't work with me anymore is that I lack the drive and motivation to always give 110% for the company. They want me to have that work hard play hard attitude and always stay driven, even when times are as tough as they are now. This is true to some extent, but whenever I asked my bosses on how I can improve, they just told me that they don't know either and that I just need to have the right mindset. I'm pretty confused right now as this is/was my first sales job and I don't know what to think of it. To be honest, I expected them to give me proper training so that I'm prepared for situations like this, but I basically have to figure that stuff out by myself. How am I supposed to know how to improve and get better when my bosses don't even know? Is working at a start up always like this? [link] [comments]  |
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