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    Startups Fundraising Thursdays - A Forum to Ask About Fundraising, Investors, Accelerators, and Other Sources of Capital

    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

    Posted: 26 Mar 2020 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.

    submitted by /u/AutoModerator
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    How to legally give equity to an Angel Investor

    Posted: 26 Mar 2020 01:44 PM PDT

    I'm at the stage where we're about to get fundraising from an angel investor and need to make the legal contracts for his investment and the equity we would be giving up.

    I've never done this before, but just for some context, the investment is for an app startup. We're not an official company yet, but we're about to register as an LLC (which seems to take 4-5 business days in California). My question is just: Is there a contract I can use as a template to structure the official legally binding deal? Anyone who's worked with an angel investor before, what contract should I use to sign on and what service did they use to send you the money?

    submitted by /u/K-LUB_101
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    How to cold email B2B leads to setup user interviews? Not looking to sell, just looking to learn about their problems.

    Posted: 26 Mar 2020 09:50 AM PDT

    Hi all!

    My startup helps Twitch streamers build their audience and maximize their earnings. We're looking to add a new product that will help streamers connect with sponsors/brands and make more money through influencer marketing campaigns.

    To learn more about these brands and their needs, I'd like to set up some user interviews with Partnership managers at companies that already run such campaigns in the esports space. What I'm having trouble with is figuring out the right approach in terms of cold emailing these people:

    1. Typically when we do b2c research we just email and offer a small incentive for an hour's worth of time ($25-$50) but for b2b leads this doesn't seem to make sense given the cost incentive.
    2. Another approach I can think of is going with a more sales like approach and getting them excited about being one of our first customers. Something to the effect of:

    Hi <name>,

    I saw your company on [x streamer's stream], and I wanted to learn more about how you manage esports influencer campaigns.

    For context, I'm the CEO of [my website], a SAAS platform used by esports influencers to engage their fans. We launched in January 2020 and already have a reach of 200K users across Twitch, Twitter and discord. From our launch, we've learned first hand that influencer campaigns in the esports space can be very challenging to nail down. At the same time, we've found that the right data and tracking tools can be a total game-changer for these campaigns!

    We're now making an all-in-one tool for brands like [YourCompany] to find the best teams and streamers to partner with, track your campaigns, and grow your brand. We're looking for our first partners to work with so we can create the perfect product to help you maximize your growth. If you're interested in helping us build out this vision, I'd love to hop on a quick 15 minute call to learn about your needs.

    With (2) I'm worried about biasing the candidate towards thinking this is a sales call and not a research interview.

    Q: What approach makes sense to you? How would you phrase this in order to achieve the main goal of the research: problem finding ?

    submitted by /u/bharatatat
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    Start a non profit organization

    Posted: 26 Mar 2020 06:36 AM PDT

    I would like to start a non profit, trying to help people to understand working in technology Industries and being independent. The problem I dont know where to start. Do you think SBA is a place to start? Or Reddit? The problem with the current situation I cant meet people. So I preferred to do it online. If I do it online, how do I promote my org. Thanks in advance.

    submitted by /u/titanae2020
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    Stuck On Microchips

    Posted: 27 Mar 2020 12:31 AM PDT

    Hello, Im currently working on a product where Im stuck on a things, i.e how to transmit video signals. I know it can be via transmitters and receivers but ny main agenda was to keep it cheap. So, I somehow got the name 'microchip mcp2551-1/SN'. I tried to get info on it, but wasn't possible. So can here anyone help me out? Also, if there is something else I can use for transmission it will be helpfull. I still don't know, where i should post this on this thread, but don't know where else to post.

    submitted by /u/Sajal26
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    Professional coaching - pricing model

    Posted: 26 Mar 2020 04:34 PM PDT

    We have a professional coaching / therapy enterprise saas startup. I want to build a multi tier pricing model with per user base vs block sessions vs annual subscription model. I know our costs and margins etc. Does anyone have actual template or guideline I can use to build out this pricing model?

    submitted by /u/swagraj
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    User Acquisition cost as a pre-launch company..?

    Posted: 26 Mar 2020 10:44 AM PDT

    Hello fellow founders,

    I have a quick question I could use some guidance/advice on.

    I am putting together my business plan and I am working on my forecast/projects for my mobile app. However, I am struggling with how to derive my UAC given that I am still pre-launch/pre-revenue and haven't even begun to budget marketing costs.

    I have research competitors an looked at any available data for what their UAC is.. but not sure how much that helps.

    Does anyone have a good idea for how to project these costs before launch?

    thanks in advance!

    submitted by /u/ImOvercompensating
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    Overeaching IP clause in new contract

    Posted: 26 Mar 2020 06:13 AM PDT

    Hi, I just got an offer, but they have a clause saying that any IP created by me, whether or not on working time, on any resource, is owned by them. This raised a red flag to me since I want to build side projects on the side and potentially monetize them. I called them and asked them if it can be reworded to not include out of work time, but they said that it would take thousand in legal fees and they cant do that, but they said they won't come after me if it's something totally unrelated (but that's a big grey area). The offer is in a European country so it might be enforceable (pm me if you want to know which exactly).

    The problem is that at the moment I don't have a job, and given the current crisis could be 1-2 months before I get another offer. What should I do? Should I just work on my side projects in silence and anonymously, and if one hits off to quit? How likely is this is gonna bite me in the ass in the future?

    Thanks in advance!

    submitted by /u/ValhalaGift
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    How to deal with losing revenue cuz of Covid-19

    Posted: 26 Mar 2020 06:43 AM PDT

    A lot of us are losing money right now.

    My future revenue is down 15% right now. [1]

    So how can we make the best of it?

    I think a big mistake people are making is acting as if all money is vaporizing. That simply cannot be the case. If 100% of business went bankrupt then how would you get food, drinks, and most importantly, toilet paper?

    People are still spending money.. they're just spending it in different places. I think you could roughly divide business into essential and non-essential companies.

    Surprisingly, entertainment is also included in the essential category. It makes sense with people being afraid and bored.

    So here's what to do:

    1. Either pivot parts of the business model.

    Maybe you can keep doing what you're doing but simply shift your userbase. Perhaps you need to change your revenue model. (From 1-time fee to subscription or vice versa.)

    Maybe you need to tweak your value prop. (Ours is usually helping double the revenue, but our clients seem to be more interested in getting help cutting cost right now.)

    1. A new project entirely.

    The possibility exists that you can't pivot your business and make it work. Maybe you sell some piece of software that just isn't needed right now.

    Maybe you sell a product that's more of a luxury good.

    If that's the case you should consider trying something else entirely. (After you've tried to pivot different aspects of your business model.)

    Since you're a founder, this is where you have a unique and unfair advantage. Namely, you're used to uncertainty.

    You're familiar with going to the marketplace and saying: 'What problem do you need solved? Pay me X and I'll solve it for you.'

    A founder is essentially an iterative 'machine' capable of locating and creating economic value by identifying and addressing problems a subset of the market place has.

    There are many problems people have.

    Problems that, combined with your unique talents could be excellent opportunities.

    RJ

    NOTES

    [1] We work with companies for free during a 6 month period. After that, they pay us a fee, which is why problems today affect us 6 months down the line.

    EDIT: 'Whether you think you can or you can't, you're right.' People WILL make money during this crisis. If you are struggling, having a negative attitude is not helpful. If you believe it's impossible to make money during this period (as many people seem to argue) AND you need money right now, you're essentially guaranteeing it will not be made by you. The people that will end up growing during this situation will not be the people that have already decided it's all doom, gloom and hopelessness. Note that this perspective is not mutually exclusive with the valid statement that on average people are getting and spending less.

    submitted by /u/Younglingfeynman
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    Share Your Experiences of onshoring vs offshoring outsource dev. agencies

    Posted: 26 Mar 2020 05:04 AM PDT

    Hi All

    Hope this is an appropriate sub to ask this question.

    As per the title I would be interested to hear from those of you who have had startups go the route of outsourcing dev to an agency and what was your experience like either onshore or offshore or both if you have experience with both.

    For background I am a non-technical founder currently trying to pick up a bit of UI/UX design knowledge and am using Figma & Protopie to get some mockups/wireframes together. Whilst I am not a developer I do have an overview of the necessary architecture to build a website or an app inc. languages, frameworks, frontend, server-side MBaaS vs Custom build etc So I am able to a certain extent to be able to articulate my wishes and to have a conversation with an agency about best route forward. I am also about to start an online course to learn Python.

    I am aware of some of the typical benefits and drawbacks of onshore vs offshore but would be interested to hear from those that have been through the process of working with an outsource dev agency both good and bad.

    Thanks!

    submitted by /u/2020visionh
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