Startups Wednesday Social Club - Share What Events You Are Attending This Coming Week |
- Wednesday Social Club - Share What Events You Are Attending This Coming Week
- What types of start-ups do you think will be the biggest during the next decade?
- How to present a product to a business?
- Question regarding excess capital
- How do start up incubators ensure that you don't run off with your idea?
- Did you leave a startup that eventually became successful? Did you regret it?
- LTV forecast feels unrealistically high, but I'm not doing anything "wrong"?
- Why being in the office can make all the difference in a Startup
- What's Up With This New Startup Art Style?
- New business owners or people looking to set up a business within the next 2 years, does a potential upcoming recession worry you?
- Product raffling, do or don't ?
| Wednesday Social Club - Share What Events You Are Attending This Coming Week Posted: 06 Nov 2019 05:05 AM PST Welcome to this week's Social Club thread.Share what events and meetups you are going to so we can discover new ways to be social together offline and help grow your local community. Focus on sharing events that are happening within the next 7 days of this date of this submission. Anything that falls outside of 10 days will be removed, no exceptions. No duplicate posts. If you happen to be attending an event that is already posted, leave a comment to inform the community that you will also be there. If you are hoping to organize something on your own, outside of an existing event, feel free to use this thread to rally some people together to meet up. Please use the following format to share an event: Event Name and URL: Location: Event Date: Event Time: Event Description: Event Cost: Discount Code: [if applicable] Please use the following format to organize people to meet up together: Location: Purpose of getting together: Suggested Places to meet up: You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| What types of start-ups do you think will be the biggest during the next decade? Posted: 06 Nov 2019 05:11 PM PST Such as, in the last decade, the biggest start ups included ride sharing and delivery services with low paid workers, a podcast company, and Airbnb. What types of companies do you think will have a breakthrough during the next decade, and do you think the rate of successful startups will slow down now that technology is maturing? [link] [comments]  |
| How to present a product to a business? Posted: 06 Nov 2019 09:24 AM PST I'm trying to sell a SaaS tool to certain types of private practices in the medical space. I asked via email if I could show the product and some of them agreed. The problem is I don't have a product yet, just a prototype and some very appealing visual results. I believe my options are:
I'd love to have your feedback! [link] [comments]  |
| Question regarding excess capital Posted: 06 Nov 2019 03:17 PM PST So my company recently received a large angel investment last week, and we don't need half the cash for another year or possibly 18 months. What should I do with roughly $300,000? Of the $300,000, I can safely say $100,000 is padding that I negotiated for just-in-case cost overruns, which after a call with our primary supplier today, is not very likely, unless there is some global disaster. I'm thinking of throwing the cash into index funds or long term CDs, but I am wondering what other people have done. EDIT: To add some background, I run a biotech startup, we are validating and running QA on our proprietary assay system, and the QA is time dependent, so we cannot finish the trials faster. Believe me, my scientists and I (and investors) have looked for every possible way to expedite, but we find that the minimum time will be one year to have the data that is necessary, and more money cannot improve that time period. Second, we need $200,000 for our first run of MVP, per my conversation with the two specialized contract manufacturers I spoke with. [link] [comments]  |
| How do start up incubators ensure that you don't run off with your idea? Posted: 07 Nov 2019 12:06 AM PST I was researching start up incubators like YCombinator and I thought of an interesting idea. I know that usually these incubators work by taking 7% of a companies equity and then helping them out by giving them resources to develop. However I was wondering what stops a founder from declairing their company (owned partly by the incubator) bankrupt and starting a new one with the knowledge they have acquired and the technology they developed at the stat up? [link] [comments]  |
| Did you leave a startup that eventually became successful? Did you regret it? Posted: 06 Nov 2019 11:35 PM PST As the title says. Been doing a bit of thinking whether to leave mine or not. I don't want to be here anymore for a variety of reasons. It's a long story but I'm essentially not growing/learning anything new (despite what everyone says about working in a startup), and it's not very aligned with what I would like to do next when I get out. The only thing that's bugging me is that I'm afraid of missing out on a fat bonus *if* my company becomes really successful since I have stock options. I wished I was braver to just leave, I should have left long ago but I've always been this indecisive and afraid that I will regret the decisions I make in hindsight (I'm working on it). Would like to hear some of your stories while I do my thinking. :) [link] [comments]  |
| LTV forecast feels unrealistically high, but I'm not doing anything "wrong"? Posted: 06 Nov 2019 08:36 AM PST I'm at a B2B SaaS comp working on raising our first institutional round. We are basically pre-revenue (just got our first PO though!). When trying to project CAC and LTV, something feels off to me. We are a very high touch sales company, and as of now we have one full time sales guy. I have included everything in our CAC related to sales and marketing, including a portion of our real estate. It comes out to somewhere around $7k. Then we get to LTV: say our average annual contract value is $7000 to start off with, our margins are 90%, and we churn 10% of everyone who buys annually, which is quite a bit especially since we aren't going to take many clients year one. Depending on how you calculate, this puts our LTV up around $70,000 and our LTV:CAC ratio above 10. This feels very high. What am I missing? Is this not a valid metric for such an early company? Is CAC payback period more relevant? [link] [comments]  |
| Why being in the office can make all the difference in a Startup Posted: 06 Nov 2019 10:34 AM PST Nowadays there's the trend among Startups' Founders to set up a team geographically dispersed (with so-called Digital Nomads).However, in this piece, I shall throw a stick in the works and state the opposite (employees in the office!) to be one of the best environments for success. Don't let building rental, supplies costs and corporate standards put you off — the advantages in productivity, learning, and management will more than make these back. In my career I've experienced all of the possible teamwork allocations, from working remote to being one of many on a bank's trading floor, and must say that my current position — within a co-located, dedicated, synchronised team — is where I feel my partners and employees happiest, most inspired and most productive. Of course, many success stories see entrepreneurs rise with their team dislocated and achieve incredible feats — yet this is no standard to which you must necessarily adhere. As entrepreneurs, we love to challenge ourselves. So when we come together, we challenge each other, exponentially expanding our creative potential. Bouncing ideas, killing bad concepts, collaborating to refine a singular, golden vision. By meeting together we steepen the learning curve; by working together we help each other crest. And there's nothing better than the view from the top of a unified peak. Colocated teamwork unifies any team as the social draw out the introspective, and thoughtful expand upon the scattergun thoughts of the energetic. A mutual morale boost, a collaborative delight that can prove far more rewarding than the mental development of a lone entrepreneur. But don't just take our word for it. The Harvard Business Review agrees, having gathered and analysed two years' worth of data from over 2,000 employees across the US and European tech industry. Comparing productivity of employees, the effectiveness of lone work, and quality client satisfaction, the result was conclusive: Employees with a neighbour of alternate skills at the desk next door received a 10% "performance spillover", as observed across three types of worker: productive (who completed tasks quickly but lacked quality), quality (who produced superior work but did so slowly), and generalists (average across both productive and quality dimensions). Management could also use these combinations of workers to their advantage, say by grouping workers of opposing strengths — a "quality" worker with a "productive" worker, for example. This improved work quality across the pair to the tune of 13% productivity gain and 17% effectiveness gain. Workers were most receptive to performance spillover of the dimension they lacked, while pairing employees of the same strength exhibited no significant result. Just as our school teachers paired weaker students with prodigies, we see the beautiful benefit of so many differing intellects uniting in a startup office environment. From Floyd Allport's 1920 social facilitation studies to Marjorie E. Shaw's 1932 social psychology experiment confirming problems are best-solved by close teams than individuals, history has shown us the best path to a prosperous business. The bigger your startup, the bigger the beautiful domino effect. And don't restrict it to the workspace, as those who share lunch share productivity boosts similarly! What about when outsourcing?Sometimes you decide to outsource your product and software. It is the nature of the game yet should not detract from your booming startup office culture. When looking for the right partner, remember the same logic: great minds in intense proximity pertains to better quality, swifter output — plus more immediate product and project management. The odds of having better quality, swifter output fall down when the agency outsources, in turn, the work to its remote collaborators. From the simplification of management to the endless communication and quality perks, a tight-knit office environment is a potent path to startup success. Nomads come and go — such as the meaning of their name — but do not neglect a cohesive in-person crew for a little less expenditure. Instead, invest in vibrancy and see how significant the pay-off is. Freelance is fashionable — there's no doubt about it. But I believe delivery and proximity to bear stark correlation. If you cannot see who you are working with, you cannot expect to produce as efficiently. Sure, you may have left your old job to get away from the office but it need not be the same soul-sapping resource to which you used to trudge solemnly. No more constricting dress codes, nitpicking bosses or forced festivities. Rather, your own vibrant interpretation of what an idea generator should be like, a new era of startup office. This sort of mentality keeps existing minds sharp and beckons new bodies. No amount of emails can surpass the camaraderie brought about by a team-wide sequence of IRL smiles. That's the wonderful thing about organic success. It is unlimited, a loop fuelled by creativity, happiness, productivity and learning to garner success. I (and my team) believe in combined brainpower. And together, we strengthen our collective mind. Ah, picture it — beautiful branches of brains organically revitalising the human element surprisingly more and more rare in modern tech culture! Listen — by no means are we saying you should intentionally populate your team and set behavioural standards worthy of being dubbed an old corporate environment. What we are emphasising, however, is to innovatively bring your team together or partner with someone with the team together, to maximise the magic you make. Thanks for reading. [link] [comments]  |
| What's Up With This New Startup Art Style? Posted: 06 Nov 2019 10:45 AM PST Hey guys, I've noticed trend that new and upcoming startups have been using a new art-style on their landing pages involving caricatures of people doing random things. I was wondering if this was based around a specific art style or how this trends affect how customers view the product. Here are some examples: Maybe this is a new aesthetic for enterprise facing startups? What do you guys think [link] [comments]  |
| Posted: 06 Nov 2019 07:22 AM PST My business, which is close to launch, will be B2B and delivering mental well being services to businesses and their employees. I'm concerned these are the first sort of services and expenses that will get cut during a recession. I would also be extremely interested to hear from anyone who set up a business during the last recession as well, to gain some insight into how you got on. [link] [comments]  |
| Product raffling, do or don't ? Posted: 06 Nov 2019 04:53 AM PST I'm currently thinking of starting up an online business that is tailored to buying products and raffling them off to people for larger profit margin, it seems to be a growing trend of business model, what are the thoughts around this? Essentially, for example buy a product at 50 dollars, and advertise it accordingly, limiting the raffle entries to maybe 25 people at 5 dollars a ticket, this gives someone the chance of getting at 50 dollar product for only 10% of the price while the profit would be 75 dollars, it seems to be a good model based on profit and reward of the customer [link] [comments]  |
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