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
- After years of ideas and ‘maybes’ I settled on one and it’s expanding quicker than expected. How do I manage the money?
- My startup failed, what next? What should I do with my code?
- Advice on handling nepotism on board of directors
- Landing Page MVP GDPR/CCPA Data Protection Advice
- What does "banking for start ups" mean?
- How to handle your webdeveloper
- Legal considerations of founders from 2 different countries?
- Is it okay to pay myself a small amount?
- How many shares of my C-Corp should I buy?
| Wednesday Social Club - Share What Events You Are Attending This Coming Week Posted: 06 May 2020 06:06 AM PDT 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]  |
| Posted: 06 May 2020 07:19 PM PDT I'm sure I'm not alone, but I've spent years thinking up ideas and side hustles to help boost income, keep me active, or help create life outside of my soul crushing job lol. That being said, I finally stuck to one a couple months back, and even still didn't think I'd jump. As I was building and thinking of jumping, I gathered some interest amongst my little tribe (super intimate friend group - we do everything together). 2 of them were so interested that they just wanted to help, and we went into it thinking it would be a slow long haul until we saw progress especially in the face of covid. While initial investment was minimal, we've made it back in about a month - and now have about the same amount in pure profit. Problem is I have NO IDEA what the best move is. I want to pay them for their work, and I want to take a portion to reinvest back into it.. as well as setting aside some for taxes and things. I don't mind not paying myself currently. How do I best divvy this up? Thanks for your input! [link] [comments]  |
| My startup failed, what next? What should I do with my code? Posted: 06 May 2020 05:27 PM PDT Hey everyone. I built this project over the last 2 and a half years ago It is an ed-tech SaaS platform aimed to make participation in large lectures easier and more enjoyable. After a good period of development, my cofounders and I went to market with cold emails. We had a couple users but really struggled to get people to try or use the product. Plus we are still in college and juggling the startup with school was difficult. We have ultimately given up, assuming we did not find product market fit/did not solve the problem correctly. We have an awesome code base with tons of features and I'd hate to see it go to waste. I have been thinking about open sourcing the entire project, but I feel that I should still consider what would be the best way to go about that. Any suggestions would be extremely appreciated! Thanks [link] [comments]  |
| Advice on handling nepotism on board of directors Posted: 06 May 2020 07:50 AM PDT Hey all, I cofounded a startup and contain a large percentage of stock as a co founder, no single co founder has any more than a 1% difference in stock between each. A co founder has 2 family members on the board as they have invested. I am concerned in regards to the families ability as a unit to boot me or anyone else off for any reason. The family unit as a whole owns more than 50% of the company. This is not a non profit company. I want to bring it up at a board meeting to integrate a way to keep the board following in the most fair way we can. I've have been working with and known them for almost 5 years now. I have no legally binding contract with them anymore, I originally had a X amount of years to gain my shares which I already have passed the contract (My shares are vested). My thought was to bring in more people outside of the family bubble or have some clause that dis-proportionally helps those who are not apart of the family. I don't really have a very clear answer, however I could see something like perhaps I propose a special protected class for me which in the consideration of my termination, or dilution of my stock which I don't agree upon, it would call for a group of unbiased people. What do you guys recommend? Edit: Thank you so much for all your responses, one common question is "why all of a sudden?" The reason is more so for principle and comes from a perspective like "Well, if i'm going to be here for another 4-5 years, i'd like to set some things in order that would protect me". There is no consideration of taking their shares as some have suggested as that would be insane. This wasn't originally a family business and it wasn't intended that way either, it just happened to be those who invested. I also understand that I should of done it at the beginning and that was a big error of mine. Edit: (Said well by "AggressiveFeckless") The family bond creates a motivation among shareholders that isn't purely fiduciary and in the best interest of the company. There's no situation where they won't continue to have control, but I am not proposing anything that would influence their equity ownership or ultimate ability to control the business, I am proposing better governance Co founders:
Board of directors:
[link] [comments]  |
| Landing Page MVP GDPR/CCPA Data Protection Advice Posted: 06 May 2020 05:08 PM PDT Hi Hope everyone is good. I am looking to set up a landing page for an interactive prototype/demo video for an app I am working on. The landing page would serve as an MVP, with an e-mail sign up form, so as people can 'pre-register' their interest and so as I can get an initial feel for whether there is a market for the app. My question is, how do I ensure I am being GDPR/CCPA compliant and generally data protection compliant in collecting people's emails addresses. It would only be people's email addresses and first name, maybe surname I would be collecting and maybe I wouldn't even need the names tbh. By using something like typeform to collect them and connecting that via zapier to a crm like hubspot or zoho to store the emails and names I assuming this would be sufficient. Can anybody provide any further advice beyond my assumptions and whether they are correct? Would also appreciate any recommendations on a good landing page builder. I see Mailchimp are currently offering a free domain + there hosting is free up to a certain point plus they have the functionality to collect email addresses built in or would I be better served in using a different site such as Cardd, Webflow or something else and just putting a type form on their to collect the emails? [link] [comments]  |
| What does "banking for start ups" mean? Posted: 06 May 2020 02:53 PM PDT Context: Live in Canada, my personal bank is TD, and my credit card is also TD. My company is incorporated in Delaware with Stripe Atlas. I know nothing about how business banking is done. Raised 180K USD recently, so it seems that we need a business bank. I don't know what I don't know. Mercury, Brex Cash, all say that they're banking for start ups, what does that really mean? From all I can tell, they just have a sleek design? [link] [comments]  |
| How to handle your webdeveloper Posted: 06 May 2020 08:06 AM PDT Hi guys, long time lurker so wanted to see what you guys thought about this.. So I hired a web developer about a month ago to build a social community app for me. We met in person, I explained the idea and she was confident she could build it on shoppify, and said she disliked WordPress which my landing page was currently on, and that she wasn't very skilled with WordPress. Fast forward to Monday night where I receive the first deliverables of the project and I find out then that she couldn't actually do everything on shoppify (had already spent money on a month of their service) and chose to build off of my existing WordPress site (was never planned or communicated to me). When I received the project it was just an extra page added to my existing site with a login function and some other main functionalities I need, but definitely not what I expected. My gut feeling is that she just threw this together last minute once she realized shopify wouldn't work and then gave me something somewhat different then I was asking. Everything is now attached to my landing page and I need to rework it to actually have it look like an MVP vs an informational page with a call to action. Is this on me to better manage her or are these red flags of a larger issue? She told me outright she wasn't great with WordPress now she is building the whole thing on there..so I'm a bit worried about the quality. Any advice is appreciated! [link] [comments]  |
| Legal considerations of founders from 2 different countries? Posted: 06 May 2020 04:02 PM PDT Incorporated in US/Canada but other founders are in the EU. Would there be any legal complications if the company is conducting business around the globe, but incorporated in North America? Do we need to register in the EU countries where the other founders are from? What else should we take into consideration when founders are dispersed around the globe? [link] [comments]  |
| Is it okay to pay myself a small amount? Posted: 06 May 2020 01:56 PM PDT Hi all, So I started working full time for the past 5 months on a Startup I founded, I have also spent my time for doing freelance work on the startup, so there are some missed income and most of my savings were spent on paying house bills and whatnot. MVP is still about 3 months away so I am thinking of borrowing money from friends and family soon. I was wondering if it is okay if I use part of the borrowed money to pay myself a small amount to ensure I can pay my bills in the coming months? Alternative to that is I go back to work or spend more time on freelance but would mean MVP will take longer to complete. I think I should also mention that I have already received investment offers from local entrepreneurs, but I believe the deal they are offering is terrible. Around $20,000 for 40% to 50% equity. Thanks! EDIT : Changed loan to borrowed money. Also added more details. [link] [comments]  |
| How many shares of my C-Corp should I buy? Posted: 06 May 2020 06:58 AM PDT I formed a C-Corp with 10,000,000 authorized shares at a par value of $0.00001 but I'm not sure whether it is reasonable to buy all 10,000,000 shares or not. I will also need to distribute equity in the future for investors and employees. Should I buy 100% of the company or 15%-20% at a higher PPS to increase the valuation? [link] [comments]  |
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