Startups My friend and business partner wants to give me stock options.. Is this bad? |
- My friend and business partner wants to give me stock options.. Is this bad?
- Do you forecast your expenditures and revenue?
- Early stage- Do you do Sprint Retro and reviews?
- What field of programming has blue oceans of opportunity?
- Electric Vehicle platform startup idea.
- Any tips on finding angel investors?
- I am applying to university soon, what is best to study if I want to get into the start up scene?
- A friend and I are going to different colleges but are planning to make a company together using a new idea that we both developed. Since we have agreed to make him the head if the operation, how can I make sure that he doesn't prevent me from getting a good position in the company?
| My friend and business partner wants to give me stock options.. Is this bad? Posted: 31 Aug 2019 04:43 PM PDT My good friend invited me to join his startup about 4 months ago. He and the other cofounder have been working on the startup for 1.5 years or so (less seriously than now) but they couldn't really create a product. They managed to build 1 app but they've thrown that away now. When I joined 4 months ago we got accepted into a prestigious and incredibly useful startup accelerator and our momentum has been incredible. We're selling $50k/yr licenses of our software that I built with the cofounder and we've got 4-5 signed and about 10 in verbal commitments, and this has been in the space of 3-4 months. Things are going incredibly well, and I've never been part of such an early success. My friend offered me 8% equity when I joined, and I thought that was fair. Over the few months I've been part of the company I've not signed a contract yet... but I trust my friend. Now, we're trying to get that sorted and he's proposing we do 8% vested over 4 years in stock options. I get to purchase the stock at a $2m valuation. He had an excuse for why I couldn't get founder shares. I don't quite remember the reason, but does that sound appropriate? I'm not 100% sure how stock options work in the event of an acquisition, so if anyone has experience that would be great! Another small detail is we've raised ~$350k so far with plans of raising more in the coming months. [link] [comments]  |
| Do you forecast your expenditures and revenue? Posted: 31 Aug 2019 10:15 AM PDT I know that the bigger guys always pay a bunch of money to consulting firms that come in and forecast their revenue and expenditures for the year. Do the small to mid-size businesses do the same thing? If so, how do you approach this? What do you look for in that forecast and who/what do you use? [link] [comments]  |
| Early stage- Do you do Sprint Retro and reviews? Posted: 31 Aug 2019 05:02 PM PDT I'm leading a 4 person startup of mixed techincal knowledge. I've been working with everyone up to think more objectively and become sprint focused. Along with this, slowly increasing process formality, to help us without causing confusion. We've come to the end of our first sprint. And I'm prepping for our first sprint review. First, as a sanity check should I have a review or just keep pushing forward? Second, assuming that's a yes, any tips? I've participated in sprint reviews for 4 years in various startups, but this is my first time leading. Thanks. [link] [comments]  |
| What field of programming has blue oceans of opportunity? Posted: 31 Aug 2019 09:32 PM PDT In his book "Blue Ocean Strategy" Chan Kim makes the case that simply shifting your industry focus from red, shark filled oceans to blue oceans with abundant opportunity silently dictates much of the chance for success in a new venture. What fields of programming do you guys feel are blue oceans in this context, with lots of opportunity relative to supply? Careerwise I'm currently in web development which is probably a bit reddish (Elon Musk holds a similar view). But I have spare time and an interest in learning new techs if there's something worth pursuing. Curious what you guys might suggest. [link] [comments]  |
| Electric Vehicle platform startup idea. Posted: 31 Aug 2019 03:26 AM PDT I've got a startup and I want to build an EV platform. I'm a recent Bachelors graduate in Mechanical Engineering. I wanted to know if anyone has any prior experience in chassis manufacturing or car manufacturing. I've got a few ideas which I want to float around for some validation. [link] [comments]  |
| Any tips on finding angel investors? Posted: 31 Aug 2019 08:43 AM PDT Hi everyone! I already built a successful £1M+ turnover startup from scratch but now keen to develop another startup that will require some seed funding and I have no experience at finding and working with investors. I wondered if anyone would be able to please point me in the right direction or share any tips for an investing noob? Thanks! [link] [comments]  |
| I am applying to university soon, what is best to study if I want to get into the start up scene? Posted: 31 Aug 2019 05:37 AM PDT I am an international high school student. I am already involved in startups. I have managed several in the past and now have one of my own. As of right now, I am planning on studying CS in university. Partially because I am interested in it, but also because of all the pressure placed on me to get into the start up scene. Recently, I have been more and more interested in economics and finance as an academic career. My parents insist that CS is the best way to get into startups, quickly. What would help me out more in my entrepreneurial life? Could I be able to incorporate both? [link] [comments]  |
| Posted: 31 Aug 2019 07:43 AM PDT A friend and I (let's call this friend Joe) recently came up with an idea that we think could do very well if we brought it to market. Thus, we are thinking about making a business out of it. Our plan is that Joe will be the boss of the company and I will serve in some position close to him. Since I enjoy directing projects and doing some design, I was considering something like Chief Operating Officer. Since we are both 18, we will be going off to college this year. Joe will go to MIT while I'll go off to University of Michigan, we'll both have the same major but there is a distinct difference between our two schools and how good the programs are. This separation may threaten my position in the company, as he may make new connections at MIT that are much smarter than myself. The other large difference we've had is the direction we want to grow our company. Since the device is very versatile, it can be developed in different ways. Joe really wants to use his device for planes, while I want to use the device for seafaring vessels. This may play a slight role in dividing our company towards the beginning. Overall, I would like to get the position of Chief Operating Officer, but I don't know how I can prove to him that I deserve the position. How do I make sure that he doesn't replace me or completely exclude me from the company? Some ideas I've had have been taking business/startup classes, getting professional contacts, entering the Naval submarine Corp as an officer to gain leadership experience (granted, this would mean that I'd have to have a 5 year intermission between finishing college and going into the company), and helping organize the construction of our first prototype. How would these ideas work? [link] [comments]  |
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