Startups Share your startup - May 2020 |
- Share your startup - May 2020
- Fundraising Thursdays - A Forum to Ask About Fundraising, Investors, Accelerators, and Other Sources of Capital
- How to make sure your startup doesn't fail from co-founder misfit
- Has anyone transitioned to a 6am wake up and seen positive changes?
- How do you continue traction after launch?
- CTO won't be motivated until he sees paid users
- AirBnB guys sold the political themed cereal, Alex Tew sold ad spaces on 'The Million Dollar Homepage' - What has been your hack to make some 'quick' cash for your startup?
- Bottlenecks - Customer Services Email
- Recourse if one startup founder stops pulling their weight.
- Putting app idea/design on portfolio vs working on it in stealth?
- How do I determine how good our UI/UX is?
- Mistakes made by startups during Seed Round
- Is it a dumb idea to send your pitch decks to devs over the internet?
- UK Trademarking
- Competing with self
- Slicing Pie question
- Looking for thoughts on my next steps? Startup in the beauty space
| Posted: 01 May 2020 04:08 AM PDT Tell us about your startup! /r/startups wants to hear what you're working on! Contest mode is on, so remember to select 'Show All' to see all the replies. If you don't see your post, you probably need to load more comments at the bottom. Also, all posts are sorted randomly, so the sort function doesn't seem to work.
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| Posted: 30 Apr 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. [link] [comments]  |
| How to make sure your startup doesn't fail from co-founder misfit Posted: 30 Apr 2020 02:52 PM PDT 👋 Hey everyone, 7 months ago, I started a company with my co-founder, who I only met 3 months prior. Fast forward to now and we've raised funding and have hired a small team, but I wanted to share the method and framework that we used to assess whether or not working together was a good idea. To evaluate co-founder fit, you have to answer four key questions:
If you found this helpful, I created a template on notion (completely free & no strings attached) that you can duplicate and use for yourself here. I hope this was helpful, feel free to ask me any questions! [link] [comments]  |
| Has anyone transitioned to a 6am wake up and seen positive changes? Posted: 30 Apr 2020 09:27 AM PDT Since quarantine, I've been getting up at my usual 7am and working on my startup until 9am when I start work for my full time job (my startup is currently a side project). The one problem is that I have a flatmate who has started to get up early too, turn the TV on and generally distract, which is annoying but I can't really ask him not to since we're 50/50 on the house. I've decided to look into the benefits of getting up pretty early, around 6am, to work until 8.30ish. I've heard lots of great things about it but not actually done it. Has anyone transitioned to a 6am wakeup and seen positive changes? I figure quarantine is the perfect time to trial it, especially since I've given myself a month to complete my MVP. Thanks! [link] [comments]  |
| How do you continue traction after launch? Posted: 01 May 2020 12:45 AM PDT We had a quite successful Product Hunt launch considering we went from MVP to launch/Front Page of Product Hunt in under a week. Now that the launch is over traffic has tailed off significantly. Google is still catching up on indexing our site. We are looking into doing a limited campaign for FB ads and Google Adsense. Any tips to keep this going? [link] [comments]  |
| CTO won't be motivated until he sees paid users Posted: 01 May 2020 03:17 AM PDT The startup is at a pre MVP stage (SaaS). CTO / Co-Founder is an equal shareholder. I'm the CEO, the idea guy, and the investor. I ask him: do you feel motivated enough by the mission and vision we have? He goes: "I will only get motivated when I see money coming in, otherwise it feels like we are wasting time". My idea is that if we don't get motivated, enthusiastic, and fuel ourselves with illusion at pre-MVP level, we will never be able to even hope for paid users. Is this an expected statement from a typical CTO? I guess, they tend to be more rational and logical than CEOs, who are often visionaries, dreamers, and sometimes delusional. So I should just accept it, and try to engage him more. Or is it a red flag that shows that the guy doesn't have any skin in the game and that he is going to drop me when things get rough? How would you interpret this? Perhaps a failure from my side to "sell" him my vision? Or perhaps I should expect to build a vision together since he's a 50% co-founder? I preface that we have just got started. We haven't gone trading for a year with no revenue - if that will ever happen, I might get discouraged too at that point. [link] [comments]  |
| Posted: 30 Apr 2020 03:10 PM PDT Hi All Hope everyone is well. As per the title I'd love to hear from those out there that have hacked/hustled themselves some relatively quick cash to use for a business/startup/sideproject. Two examples which I think are pretty well known are the AirBnB guys who sold the political themed cereal such as Obama Os which ended up making them around $40k. The other example being Alex Tew, now co-founder of Calm, who back in 2005 made 'The Million Dollar Homepage', selling off ad space and making just over $1m in 4 months. Look forward to hearing any cool similar stories you have to share! [link] [comments]  |
| Bottlenecks - Customer Services Email Posted: 01 May 2020 02:22 AM PDT Struggling to delegate the email customer services of my business. I've set up a few businesses, and I'm lucky that some have been quite successful, however I really struggle with customer services and creating a bottleneck before people purchase - in that they deal with me via email. I guess I always want things to be 'just right' so want to double check things before anything gets signed off, but due to this I have a lot less time to grow the business and work on more important things such as marketing. I'm really looking for some advice on how you guys have dealt with delegating this part of your business - especially in an economical way. The most recent business I set up during lockdown and made a profit of just £1000 last month, so I don't feel like I have money to burn with this, especially not taking on a full time employee - but I wondered what other options I had, and how best to utilise them. The business is selling online group tuition on zoom, but it's complicated by the fact that customers have to be put in the right level groups, and also have different times they are available, and the teachers have different times they are available too, so I spend nearly all my time on the business trying to fit everything together, and I'd love to be able to delegate this. Hope that makes sense! [link] [comments]  |
| Recourse if one startup founder stops pulling their weight. Posted: 30 Apr 2020 02:49 PM PDT What recourse do founders have if one founder stops contributing after a while ? Let's say you start of a partnership at 50-50. You build a great MVP, find a great product-market fit and then one founder just stops pulling their weight. You can always remove from the company, but they'd still own a large percentage of the company. Is there a recourse ? of any kind ? [link] [comments]  |
| Putting app idea/design on portfolio vs working on it in stealth? Posted: 30 Apr 2020 07:18 PM PDT I'm a product designer and recently started looking for a new job. I'd been working on an app idea on the side and already got pretty far with the whole design and have a prototype. A developer friend also wanted to partner with me and we've started building the actual product. I was originally just going to put it as one of my projects on my portfolio while I job hunt. I have a couple other work projects, but none of them compare in the level of enthusiasm and passion I have for this one, so it would be a strong case study to use in interviews. However, my developer friend mentioned he was concerned if I made the design public, that makes it pretty easy for anyone to steal since they would not only have the idea but also basically the design blueprints that I showcase in my portfolio. I've never ventured into actually building/launching my own mobile app and wanted to see if anyone has experience with this and advice on the best path forward -
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| How do I determine how good our UI/UX is? Posted: 30 Apr 2020 05:32 PM PDT I'm a Product Manager at a small startup that is a social/marketplace web platform. We recently hired a UI/UX consultant to join us. This UI/UX consultant has analyzed our platform for the past week, and will be giving me (product manager) a personal presentation of his findings. I really don't know what I should be looking for in his presentation, or what questions to ask. I'm sure he will tell me some insightful stuff - but I would like to be able to give him good feedback and understand what I should be looking for in his presentation. Any ideas on what I should be looking for and what questions I should be asking? [link] [comments]  |
| Mistakes made by startups during Seed Round Posted: 30 Apr 2020 05:16 PM PDT Hello, I know very little about startups and how they are made/built/created, I actually managed to entice three people I know to help me built an MVP / Concept and in my attempt to learn I have stumbled across a company that was aggressively advertising their credentials and their "free" webinar and they made some bold claims. Now my gut feeling is that when something is free, I am the product. I feel like this is more of a marketing pitch then the truth but decided to ask the great people of r/startups According to them. SECRET #1 Pitch decks and business plans are two of the LEAST important things you need to focus on to raise seed funding, and what you should do instead. SECRET #2 Why building an MVP IS DEAD and won't help you build an awesome startup, and what you need to do instead. SECRET #3 The average investor gets pitched by OVER 40 STARTUPS/WEEK... We'll show you how to stand out from a sea of other startups vying for their attention. Thank you in advance. [link] [comments]  |
| Is it a dumb idea to send your pitch decks to devs over the internet? Posted: 30 Apr 2020 12:52 PM PDT Asking for a friend. (Not really). So I'm a non (semi) technical founder, realised it'd take me a long time to find a technical co founder so started to hack together the MVP myself. I've recently joined a tech network where I am, intro'd myself as someone who's open to conversations with people wanting to found something. Someone reached out to me and now, naturally, I'm scared - haha. Anyway, he says he'd be interested in seeing a deck. I have a deck that I spent a long time on. Should I just send it to him and ask if he wants to have a zoom call? Should I ask to have a zoom call and screen share the deck, presenting it to him? What is the etiquette here? Asked the question because I will probably have to do this a lot! Thanks for bearing with my rookie question [link] [comments]  |
| Posted: 30 Apr 2020 10:30 AM PDT Hey all Hope everyone is well! I am after some advice regarding trademarking in the UK, which is where I am based. If registering your ltd company with a relatively nondescript name for example Smith Enterprises Ltd with the intent to use a trading name/brand name such as Bananafy or Orangely (completely hypothetical names) would/could you trademark both the registered company name itself as well as the trading name(s). Also how would this work in the situation whereby you have a registered company name such as Facebook Corp or for the purposes of this UK example - Facebook Ltd but your actual product/brand name is Facebook, would you just trademark the registered company name or would you trademark both the registered company name as well as the product/brand name Facebook - i.e. would just trademarking the registered company name Facebook Ltd protect your use of the brand name 'Facebook'. Are trading names/brand names actually able to be trademarked or is it just the registered company name which can be trademarked? [link] [comments]  |
| Posted: 30 Apr 2020 02:13 PM PDT Say I came up with a winning app idea, an idea that is guaranteed to be profitable because it addresses a real need for an underserved market. Then, I engaged two independent agencies to implement the idea using the exact same business specs. The two agencies will create different branding, different user interfaces and ultimately different experiences. Assume the two implementations are roughly equivalent, neither one overly better or worse than the other. They look different, and users would think the two are competitors. Users will flock to one versus the other and make comparisons, maybe even create fanatic user communities defending their respective sides. Is this legal? Has this been done before (any examples?) [link] [comments]  |
| Posted: 30 Apr 2020 07:49 AM PDT Can someone tell me where I can find solid information about how to value (at initial pie slicing) background effort of one partner? We're talking about market research/ brainstorm stuff that he readily admits was flawed (as in he said he didn't know how to do market research at the time), meetings with partners that went nowhere, drastically different iterations of the project that were without question not viable and only minimally informative. He believes his pie slice should reflect every one of those hours at his market rate because ultimately they led here. What I'm finding in the SP literature is the general sentiment that these hours should not be counted the same as hours were working now on a viable product, and I've seen people suggesting counting 5-10% of those hours is reasonable. I'm very unclear on how to proceed and what's usually acceptable. [link] [comments]  |
| Looking for thoughts on my next steps? Startup in the beauty space Posted: 30 Apr 2020 03:48 AM PDT Hey all, I'd like to hear some thoughts on my next steps for building the startup I'm working on. Here's what I've done so far:
What I think my next steps might be:
I have already applied for an office hours appointment with a seed stage investment firm, because it is on June 4th and that works well with my progress/dates above. Does this sound like the right way to keep moving forward? anything that is more important that I haven't considered? Thanks in advance! [link] [comments]  |
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