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
- How do I know if something similar already exists
- How to tackle the “dead zone” Peter Thiel was talking about in Chapter 11 of this book?
- Seeking E-commerce Business partner
- How do startups give out equity?
- Project release
- 4 Steps Towards Creating a Sales Presentation
- Is this development speed/process normal?
- Should I negotiate equity offer?
- Apps and laws
- Do I need all founders present before incorporating?
- Reporting to investors
- A couple questions around estimating cost to apply for patents and lack of IP when courting investors.
- What would be the easiest, cheapest way to build a print on demand service?
- Joining Pre-seed startup as first Engineer for common stock and no pay, is it normal to have a cliff, or should stock begin vesting immediately?
- How to create a genuinely great user success experience for enterprise B2B SaaS?
| Wednesday Social Club - Share What Events You Are Attending This Coming Week Posted: 13 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]  |
| How do I know if something similar already exists Posted: 13 May 2020 01:32 PM PDT I have an idea for a website and I think that it is unique to a certain extent - I couldn't find a similar thing using google. Now, I'm afraid that if I start developing it, in the meantime I will discover that something like that already exists. How do you deal with this problem? [link] [comments]  |
| How to tackle the “dead zone” Peter Thiel was talking about in Chapter 11 of this book? Posted: 13 May 2020 06:34 AM PDT In Zero To One Peter Thiel said: "There's a dead zone between the expensive products that call for personal sales strategies and inexpensive products that can do fine with traditional advertising. A product selling for, say, $1,000 isn't really worth the expense of paying sales staff. The ideal customer for the product is probably the small business owner; mass marketing is a very inefficient way to reach this market." I am in that situation. This particular type of deal falls into an unfortunate bracket, where the size of the deal doesn't justify sending a salesperson to close it. On the other hand, because my target audience is a small businesses rather than an individual, conventional forms of advertisement is hard to exploit. E.g: My potential SME clients are spread over many industries. There is no radio show which is listened by majority of these SME owners. The target audience is small, about 5000 persons per year, too small for Ads on Google or Facebook. I can't do email marketing without having the email address in the first place and I could just guess the email, but then I shell out spam. Thiel doesn't offer advice on how to escape the dead zone, so I need to get creative with my distribution channel. I would love any advice you may have for alternatives. Thank you for your insights and ideas! [link] [comments]  |
| Seeking E-commerce Business partner Posted: 14 May 2020 01:34 AM PDT Hey, This is Malik. Recently from working all the time, I ended up coming across extra funds. So I want to invest into creating an e-commerce platform but sadly I don't have the time. While I will cover all cost of running this platform, I am looking for someone to run the business (day to day) side of things. Then we will split all profit shares. I'm open to ideas of what and how to sell items. If interested or if this seems unreasonable please let me know! Looking for someone with prior experience. [link] [comments]  |
| How do startups give out equity? Posted: 13 May 2020 11:59 PM PDT When a startup gives equity to investors/employees (let's say 10% of the company), do they also give those investors/employees 10% of monthly revenue? Or does it just mean the investors/employees will receive 10% when the company exits? I'd like to know if the same applies to both employees and investors. [link] [comments]  |
| Posted: 14 May 2020 02:01 AM PDT Hey everyone! Cheers! [link] [comments]  |
| 4 Steps Towards Creating a Sales Presentation Posted: 13 May 2020 12:42 PM PDT Hi! My name is Andrew Yar - a freelance product designer working with startups. In this article I would like to share my experience in creating a sales presentations. This example illustrates the best ways to present products, sell services and engage new partners. Step 1. Determine the problems of your audience Understanding your target audience is a key feature in creating a successful presentation. Always keep in mind that you make the presentation for the client and not for yourself. In order to keep the audience excited, begin with a burning issue. Significance of the problem Choose a comprehensible yet a punchy topic. Avoid holistic issues such as global warming, cybercrime growth, etc. For instance, our client's team shared a problem which is relevant for many software engineers. It turned out that the monitoring system overcomplicates the daily routine of numerous people by sending countless notifications not only in case of significant errors, but also in the event of minor ones. Besides that, it is generally rather chaotic and pretty tough to manage. Step 2. Suggest your solution Onсe you have stated the problem and shared its potential consequences, it's high time to offer a solution. Your aim here is to briefly describe the key features of the product (or a service), e.g. modern technologies involved, competitive price, etc. Techniques and features The best way to demonstrate the features of the product is to compare it to other products. Tell the audience that your product is faster, thinner, more durable, etc., but make sure that you stay down-to-earth and don't overcomplicate things. See how Apple present their products so you can learn from the best. The price Don't forget to mention the payment terms and the price itself. If you have different fares or payment plans, let the audience know so they can choose the most suitable one. Step 3. Impress and encourage Keep in mind that providing a possible solution to the problem is not enough to make customers choose you. What can you possibly do in order to stand out in the competitive market? See a number of points below for those who have just launched their business and don't have their first clients yet. Benefits and gains Regardless of whether you already have clients or not, you can always describe your strengths. Choose your advantages which are also beneficial for the client. For instance, you can measure delivery time and tell the audience that it is three times faster than your competitor's Compare yourself with competitors Attract and engage new clients by letting them see who's better and why. Don't wait for your potential clients to investigate the market — do it for them by providing a comparative analysis with a precise set of characteristics. Awards As soon as you start selling and become recognized by the professional community, share your awards and positive feedback with your clients. Upgrade your brand by taking part in professional competitions recognized within your industry such as "Product/Service of the year" or "The best enterprise". These awards heighten your brand's recognizability and help in terms of engaging new clients. Feedback from the clients It's a well-known fact that people tend to believe other people more than the sellers. Thus it makes feedback from real people a powerful tool for your business. Use it by including the experience of your customers in your presentation. Step 4. Call to action A sales presentation is mainly used for first meetings or sent to potential clients via e-mail. Therefore your main aim is not as much to sell as to excite the client and make him invite you to a second meeting. Show that you are aware of the problem and present a perfect and precise solution. Instead of making a conclusion I would like to offer a typical sales presentation structure: 1. Title slide 2. The problem and its importance for the potential client 3. Your solution (a product or a service) 4. Techniques and features of the solution 5. Price of the solution 6. Client's benefits 7. A comparison with competitors 8. Your awards and feedback from clients 9. A call to a certain action 10. Contacts Thank you for reading and good luck! [link] [comments]  |
| Is this development speed/process normal? Posted: 13 May 2020 12:22 PM PDT I hired a developer on UpWork for a startup idea I had (18/hr). Basically, a simple software subscription service that monitors a few sites for updates, downloads PDF files, and allows users to select which categories of PDF file they would like to receive. The developer team had some good work under their belt and good reviews. However, in looking at the work diary, the developer spent: 1 full day doing "R&D on architecture" / looking at intro to angular documents 3.5 full days "setting up back end" 2 full days designing and creating database 1 full day "setting up front end" 1.5 full days "authenticating users" 1 full day "creating layout" of admin dashboard 0.5 days "implementing unit of work" 1 full day creating "forgot password" functionality 1.5 full days creating "reset password" functionality 1 full day creating "employee grid" (I said in design docs that first year would have only 1 employee) 2 full days creating "employee CRUD" (so admin can add and edit employees to database) No functionality or website yet, so I stopped work and asked them to work on core functionality. Developer spent 5 full days creating a "demo app" and reading tutorials about "web scrapping." I have since stopped work. I should end the contract, correct? I am not sure how long some of this is supposed to take, but I hired the developer in part because he was part of a team. I thought that certain things, like login screens, etc., could be basically imported or reused, or would come prebuilt to a certain extent. Does everything need to be created from scratch like this? Am I totally wrong here? Or is it normal to spend 2.5 full days creating forgot/reset password functionality? I used to be in IT, so I know that half of what is important is the ability to learn things quickly, not simply know them. So I gave some leeway regarding his looking at tutorials, etc. But some of this stuff I assumed he would know. What would be a normal timeline or cost for what I have got so far: an admin dashboard, with a login/reset password function for users, a database, architecture, JWT authentication, and an employee list/CRUD (that I never asked for, that's my big red flag). No core functionality. We are about 30% of the way through what they told me it would cost... EDIT: So it seems I've likely made a mistake and should hire a more experienced developer at a higher rate. Of course, now I'll be asking for references and a real portfolio. However, some of the shops I've looked at seem to require at least $25,000 projects. Anyone have any advice on finding and vetting freelance developers and smaller development shops? I am thinking about maybe using TopTotal... [link] [comments]  |
| Should I negotiate equity offer? Posted: 13 May 2020 08:22 PM PDT Hi All, Recently left a tech job to join a friend and his partner who have a great idea that could very well take off in the future. My friend worked at a couple VCs before starting the company, I trust his knowledge of the space and I'm coming on as employee #4 in a function critical to the growth and development of the business. I was offered equity upon accepting the job but we haven't finalized anything, and today we started talking about a comp package with a salary I consider to be a fair starting amount, as well as 8% equity... is this a good deal, and is it worth bringing up to the other individuals that I want more? This thing has legs, and I don't want to strain the business relationships cause we have a good thing going. I don't want to be selfish and hold out (I'm joining the business regardless) but ideally I'd like 12-14% equity stake. I've considered negotiating vested add-ons from 8 to 10-12% based on performance over time but I don't know how these conversations are supposed to go. What should I do here? [link] [comments]  |
| Posted: 13 May 2020 03:31 PM PDT Before launching or even making an app, do I need to review laws of every country and allow my app to be available at certain ones? For example if I have user generated content or whatever. How can I get started with this stuff? Can I get in deep shi* if I miss something? Thanks. [link] [comments]  |
| Do I need all founders present before incorporating? Posted: 13 May 2020 05:42 PM PDT Basically what the title says. I'm talking to a few people to get a technical cofounder but I'm preparing myself in case of the event that I don't get one. I think I can bootstrap a no-Code product and then get some code going later, but I want to know how to handle adding on founders later on. And if I can just start as the only founder and add others later on. I'll also take general advice if you're so kind. Thanks! [link] [comments]  |
| Posted: 13 May 2020 09:24 AM PDT My team is fortunate to have investors, and with that comes regular reporting on how our startup is going. That got me thinking about what others on here do, to see if there are any patterns or good ideas. So, for anyone who reports to investors, what are your thoughts on the following:
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| Posted: 13 May 2020 03:13 PM PDT Two related questions : 1. How do you go about estimating the cost to patent your stattup's IP. I'm estimating for my project that patents will be $50k to $100k. I currently do not have that much to pay for it myself. Question 2. How do I frame that problem of currently not having patented IP with investors, but if they invest there is a chance the patents will be granted? Maybe there are there workarounds. [link] [comments]  |
| What would be the easiest, cheapest way to build a print on demand service? Posted: 13 May 2020 09:47 AM PDT I'm interested in testing an idea, and am looking at building a platform that allows people to create stores and products (t-shirts, mugs, bags etc), then earn commission for each sale. Basically like Cafepress or Spreadshirt. Buy clone code? Off the shelf subscription service? Bespoke build? Shopify? The store & product creation and commission management are probably the most tricky bits. Anyone got any ideas about how to build an MVP? EDIT Need to edit it this to say I'm really looking for insight on the technical side, not the business side. We have lots of experience in this sector, and we're really just looking for some insight into the quickest way to test something. [link] [comments]  |
| Posted: 13 May 2020 12:18 PM PDT I'd be getting a decent (~2%) of the company, but I would not get paid until they get seed funding, and I would not actually get any equity until I had been there 2 months. I know cliffs are fairly normal but that's usually when you are also getting paid, and while I am getting common stock and not options, I'm not a founder, I'd be an employee (although not on W2 obviously). I'm not fully comfortable joining where I could potentially end up working and creating something for them for free, getting nothing out of it because I leave before the cliff. I don't want to do that of course, but It does not seem right. Is that normal for a pre-seed startup looking for a first engineer to create the product? EDIT To answer some questions:
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| How to create a genuinely great user success experience for enterprise B2B SaaS? Posted: 13 May 2020 09:28 AM PDT Our company is a B2B Software / Productized Service for enterprise. Most clients subscribe annually. My goal is to create a year-long client success process that provides an experience for clients / users that is truly value-driven, surprising, and delightful. We don't currently have dedicated CSMs, but likely will in the future, so I'm trying to lay a strong foundation :) Does anyone have resources on this? Companies that have done it well? Blog article with frameworks for thinking about this? Anything welcome! [link] [comments]  |
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