Startups How Lyft gain traction after Uber came to market? |
- How Lyft gain traction after Uber came to market?
- How can a new startup approach big companies?
- How do i handle changing of pricing structure for customers who signed up during early release/MVP?
- Product/idea first, or team/cofounder first?
- Offer negotiation
- How Startups Can Increase Conversion Rates
- How to patent an idea/product without ingredients yet?
- Where can I hire a freelancer and offer percent equity for pay?
- Sunday’s Success Stories - Celebrate Your Successes From the Past Week: Anything goes, none too small!
- Peer Support and Self Management Saturday’s - A Safe Place to Vent, Seek Emotional Support, Share Self Management Techniques and Experiences, or Just Rant
- Wondering about 2019 Hustle Con
| How Lyft gain traction after Uber came to market? Posted: 06 Jul 2019 07:57 AM PDT Could someone explain to me how Lyft gain traction after Uber despite having the same idea? What differentiates Lyft from Uber? We all know Uber was the first, but how did Lyft manage to differentiate themselves from their counter part to gain users? [link] [comments]  |
| How can a new startup approach big companies? Posted: 06 Jul 2019 07:40 PM PDT I have an idea I've been working on and close to the finished product. The product will be considered as a subscription service provided to insurance companies. I was wondering how can I approach these big insurance companies to try my product or signup for my subscription instead of the competition product they might be using already. I dont want to spill out my idea but the approach is simple. When the insurance company needs to use it they login to the portal -> enter the information -> they get a result back. I would really appreciate some insight. [link] [comments]  |
| How do i handle changing of pricing structure for customers who signed up during early release/MVP? Posted: 06 Jul 2019 07:32 PM PDT If i had a small number of users sign up on a monthly subscription basis for my SaaS product during beta/MVP launch, and want to adjust the pricing of my services later, is it wise to "grandfather" in these early adopters to the original pricing? What is the standard way to handle this situation? [link] [comments]  |
| Product/idea first, or team/cofounder first? Posted: 06 Jul 2019 09:36 AM PDT I'm slowly getting ready to take the next step in my life: going my own way. Currently in large company, and it's wearing on me. Apparently, I'm also not getting any younger. I have some ideas of products I want to build. Nothing researched yet. But I also don't want to do this alone, and even though I have great colleagues, I'm struggling to find someone to share my fate. There is a side project I'm working on with a couple of others, but it doesn't feel right. The idea is nice, but taking it home will require personalities I don't think we have. And so, I'm a bit lost, and just wondering if your adventure(s) trigger on the right person, or the right idea. [link] [comments]  |
| Posted: 06 Jul 2019 03:22 AM PDT So I'm joining a startup as their CTO. Currently, there are 3 founders and a bunch of contractors, so I'd be like the last founder/first employee. They are at the phase of term sheet negotiation with VCs for about a million dollar funding round at about $5 M pre money valuation. This is also the probably the last time when stock is negotiated in percentages and the last time common stock is used in an offer letter. Initially, they offered 9% equity + about 0.5 x market salary (market for a similar VP of engineering role at big cos). I don't have any idea what equity each founder holds individually, only that the cap table currently looks like: 75% current founders, 20% option pool, 5% outside investors. It will soon look like: 55% founders, 20% option pool, 25% outside investors. I'm also uncertain if my 9% would come from the 3 founders or the option pool (I know it won't come from the outside investors). I have a counter offer in mind. I want my product of salary and equity to be within 10% of the last founder's salary x equity product. For example, this means if the last founder has 20% equity and $70,000 salary, I would like anywhere between 18% equity + $70,000 or 20% equity + $63,000. The 90% multiplier doesn't have to be 90% or apply to both equity and salary. The main point I want to get across is getting similar overall compensation as the other founders. Do you think this is a good starting point for that discussion? What other formulas would you use in my situation? [link] [comments]  |
| How Startups Can Increase Conversion Rates Posted: 06 Jul 2019 12:52 PM PDT Provide The Best Customer ExperienceWe all know it's easier to keep a customer then get new ones, so when you do get a customer you want to keep them forever. It is only when these interactions are positive and engaging that the customer then decides to dive deeper into actually paying for your platform. The customer relationship is something to focus on, especially in the first week. Give them the opportunity to see the value in your product. If your product charges $49/month, you need to make it feel like its worth $4900. Align Sales and MarketingCompanies succeed when everyone is working towards the same goal, which is bringing revenue and growing the company. This is where Account-Based Marketing helps a lot. Instead of marketing broad and just focusing on getting the most amount of leads, you want your marketing efforts to go to qualified leads and sales teams doing more than just pitching a product. Benefits for ABM include:
Show Your Social ProofThe way customers recognize your brand is more important than ever today. Your brand's perception from word of mouth marketing makes the decision buying process a lot faster. Find out who they are, what they want, what they don't want, and how you can make them happier than they could ever be with your competitors. Examples can include testimonials and case studies, and these work really well in email campaigns. Developing The Right StrategyIf you want customers' attention to stay on you, then it's important to develop a strategy to keep them engaged. Talking about your product all the time definitely isn't the way. Detailed market research to find out their needs and goals will help align your content to them. Your company goals should be aligned with something beneficial to your customers. For example, Youtube's main KPI used to be the number of videos watched. It didn't matter if you only watched it for two seconds and clicked out, it was a win for them. But now they have switched their main KPI to minutes watched. This is great because it makes creators want to create more engaging long-form content and that allows viewers to stay on Youtube's platform for longer. The Right Content At The Right TimeCustomers evolve over time as they become more familiar with your brand and your content should adapt to their place in the customer journey. Today, nearly all buyers don't want to engage with sales until the later stages of the buying process. For your content to really have an impact, readers need to relate to and understand why they are receiving that certain piece of content. Mapping out your customer's journey and identifying which steps they want to take on the road to purchasing can help with what type of content to provide them. [link] [comments]  |
| How to patent an idea/product without ingredients yet? Posted: 06 Jul 2019 09:12 AM PDT I have a general idea about a product and it's uses and how to apply etc but I don't have the research and development finished yet so i don't know the ingredients that goes into the product yet. Is it possible to still patent the general idea and have it protected? What is the minimum amount of information needed? How do I patent it? Where do I get the paperwork? 🙏 [link] [comments]  |
| Where can I hire a freelancer and offer percent equity for pay? Posted: 06 Jul 2019 10:16 AM PDT To be honest, I'm not sure that the term is even 'percent equity'. I have a tech idea that requires knowledge of blockchain, cryptocurrency, and building a functional website similar to reddit. The problem is, I do not have any money to offer as payment at this time. I believe that this idea will be very successful and lucrative, but convincing someone to create the product while promising future pay is not something that I am familiar with. Can anyone give me advice on how to accomplish my goals? Thanks! [link] [comments]  |
| Posted: 06 Jul 2019 06:06 AM PDT Welcome to this week's Sunday's Success Stories Thread. A lot of us get way too hung up on the destination and the fact that we are not there yet. It is important to take a moment to reflect on a great quote from Agents of S.H.I.E.L.D., "The steps you take don't need to be big, they just need to take you in the right direction"- Jemma Simmons This is extremely relevant to all of us in this community. We should all be more aware of the successes we achieve every day that carry us closer to our goals. Celebrating these successes, no matter how small they are, allow us to stay motivated, focused, and happy while we struggle to achieve dreams of various sizes. The purpose of this thread is to share our successes from the week with one another and have something to celebrate together. So, let us know what successes you have achieved this week! Nothing is too small or insignificant! #Because this is meant to be a safe place to support emotional and physical health there is a zero tolerance policy in effect. Be KIND. Be sure to report any conduct that is in violation of that key tenet. You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| Posted: 06 Jul 2019 06:06 AM PDT Welcome to this week's Peer Support and Self Management Thread. This is a Safe Place to Vent, Seek Emotional Support, Share Self Management Techniques and Experiences, or Just Rant. The goal for this thread is to help one another manage mental and physical health so we can more easily find success. We all struggle sometimes and it is important to recognize that the struggle is part of the journey. The important thing is to learn how to overcome that adversity to grow and succeed. Be tactful and classy in how you vent your feelings and share your frustrations. Act in a mature manner. Ask questions, share experiences, and be there for one another. Practice empathy in giving advice and remember that what worked for you isn't guaranteed to work for others. Make suggestions, not demands of others. #Because this is meant to be a safe place to support emotional and physical health there is a zero tolerance policy in effect. Be KIND. Be sure to report any conduct that is in violation of that key tenet. You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| Wondering about 2019 Hustle Con Posted: 06 Jul 2019 05:22 AM PDT I'm thinking about going to Hustle Con this year. I'm eager to get to know nontechnical founders, share views, understand more about needs and hopes. Recently I started working with a long time friend who created a tech company to enable nontechnical founders. We have the purpose to connect with clients daily and show that we solve most of the problems regular dev shops have. To do that, I need to better understand what nontechnical founders go through in your journey. But I noticed this year's Hustle Con changed the discourse a bit. They seem to have broaden their public, losing the nontechnical strict aim. I don't know if I got it wrong or not. Has anyone went to previous Hustle Cons? What are your opinion about the conference? Do you think I would find nontechnical founders willing to talk about responsable and sustainable possibilities to launch their start ups without having a technical founder whatsoever? Is anyone here planning on going to this year's Hustle Con? [link] [comments]  |
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