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
- Question: Can I request list of shareholders from my former employer?
- Interviewing first potential team members next week...how's my approach and what can I do better?
- Is maintaining a minute book needed if I'm the only one involved in a C Corp?
- How much you paid for a Logo Design for your startup?
- Bonuses, grants, loopholes or anything else you wish you knew when starting a new UK ltd company
- Have an idea for an app but its success is dependent on integration with another platform. How viable is this?
- My startup brings in a revenue of $1million, how much should the CEO’s salary be?
- Starting a Skincare line
- How many hours do you work as a founder?
- How do you get your startup article/blog post published on Forbes, Bloomberg etc?
- Startups & Branding?
- Releasing an app under someone else Apple Developer Account
- Trying to increase downloads of my Mac app
- Seeking website builder with a subscription-based template for gated content (eg pay $x monthly and get access to content).
- Debate between owners on how to move forward
- Can i get a patent for an idea (App)
- How to get out of commercial lease/membership agreement? (Knotel, specifically)
- At what point should you quit your job and let your side project/startup become your full time endevour?
- How do you go about setting business emails and accounts etc?
| Posted: 25 Jun 2020 06:05 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]  |
| Question: Can I request list of shareholders from my former employer? Posted: 25 Jun 2020 11:15 AM PDT Context: I joined my last startup as the first employee in 2015. I left the company in 2019. When I left, I purchased my shares. The startup is a privately-owned company based in California. They raised a few million dollars of outside funding, but are mostly bootstrapped. For personal reasons, I'm interested in selling some or all of my shares. I spoke with the CEO, who offered a very low amount per share (relative to the company's current valuation). The CEO also said that I'm not allowed to contact anyone who isn't a shareholder with confidential information about the company (IE - the valuation). Finally, the CEO is unwilling to share the list of shareholders with me because he doesn't want anyone else to buy the shares. Is he legally obligated to share the list of shareholders with me? If not, is there anything else I can do to try and sell my shares? UPDATE: Thanks for all the advice. It sounds like my best bet is to see if I can get a list of shareholders from the board. I should also contact a lawyer before going too far down this road. [link] [comments]  |
| Interviewing first potential team members next week...how's my approach and what can I do better? Posted: 25 Jun 2020 05:24 PM PDT I started (and restarted) working on a project over the past few months and I've stalled each time because I believe I really need a designer to help me create my product. I've got several candidates that are interested and I'm setting up phone calls with them next week to meet them. I've never interviewed anyone before. My plan for the phone call (should it be a video zoom call instead?) is to first talk about my background, give them background on why I got the idea to start my product, and then give them info on where my product is (very early stages, no users, still in development mode), and then where I want to take it in the near future. Then I am planning on asking the candidate about their background and what interests them about the product. That's all I really can think of asking at this point. They would be my first team member. They already know there is no pay for now and this is an equity only type of role. Some of the candidates seem like designers that haven't had much luck getting a role in this market so I'm trying to make sure I find people that aren't just looking for experience, but also are driven by the product [link] [comments]  |
| Is maintaining a minute book needed if I'm the only one involved in a C Corp? Posted: 25 Jun 2020 07:44 PM PDT I'm launching a C Corp registered in Delaware. As of now, I am the only person running it with no one else on the board. This could be the case for the next year or two. I currently don't have a lawyer and am going through a third party company to register the business. Do I need to worry about things like maintaining a minute book since I'm the only one involved in the company now? [link] [comments]  |
| How much you paid for a Logo Design for your startup? Posted: 25 Jun 2020 11:05 AM PDT I would really like to know the price range for a logo design for startups. Not a price from online logo generators, Fiverr... only from real designers :) You can also write in the comments if you had experience with brand style guide design or even a full brand identity design. [link] [comments]  |
| Bonuses, grants, loopholes or anything else you wish you knew when starting a new UK ltd company Posted: 25 Jun 2020 01:13 PM PDT Hi All, I have just started a new ltd company based in the UK, and wondered if there are any tips or bonuses you wish you knew when starting out, including anything such as; Bonuses - sign up bonuses etc for business accounts Grants - any grants, efficient investment opportunities etc that may be helpful when starting out Tax efficiencies or loopholes - anything at all to be more tax efficient when investing cash in the business, taking it out, buying stock, etc Or anything else you can think of! Any suggestions appreciated. [link] [comments]  |
| Posted: 25 Jun 2020 03:40 PM PDT The app essentially provides a service/feature that the platform it integrates with doesn't have and likely never could. Using Shazam and Spotify as a HYPOTHETICAL example, what if Shazam's development had depended on essential access to Spotify's library? Could Shazam have been developed and pitched with that plan in mind / without an existing partnership with Spotify? How difficult would it have been for Shazam as a startup to approach Spotify for licensing (or whatever) of its services in order to integrate, test, and launch? I'm just an average, non-tech guy so feel free to explain it like I'm a baby. EDIT: For clarity, my app idea would require playback from a music service (full songs, not samples) like Spotify. In other words, music would need to play in the app. A simple Google search shows that Spotify and Apple Music both offer API, but the Spotify Everywhere website lists only 14 app integrations. Apple MusicKit doesn't offer a list of integrations but I know it and Spotify can be linked with Shazam. [link] [comments]  |
| My startup brings in a revenue of $1million, how much should the CEO’s salary be? Posted: 26 Jun 2020 01:22 AM PDT Our burn is $65k /month (~$720k a year). This includes all expenses and payroll (CEO salary is not calculated here). The CEO (also the founder) has 100% equity. He has a family. The median salary in my city is $42k. Thoughts? I'm trying to figure out what's too low and what's too high. [link] [comments]  |
| Posted: 25 Jun 2020 09:06 AM PDT I am in the VERY beginning stages of starting my skincare line, and I wanted to share what I've learned so far in case any fellow skincare addicts are interested in doing the same. I've sifted through many resources (including r/SkincareAddiction and found tons of information)! I thought I'd add my take on things to the mix. DISCLAIMER: I am by no means and expert, and I am learning more about this process every day, and I'll continue to come with updates with my progress if you are all interested in following along! STEP 1: Find your niche - For me this was one of the easier steps. I'm centering my line around travel, and I knew that if it was something I was passionate about, I would be able to clearly convey my message. - This also includes doing some market research within that niche to see if it's something worth exploring (like with any start-up). STEP 2: Business name/entity/trademark - This is mentioned a lot on this sub, but I figured I would reiterate some of this just in case... - Before firmly settling in on a name PLEASE check to make sure the name is not already associated with an active trademark. Names are easy to change, but once you start making money with someone else's name, it can get very expensive with legal fees: [https://www.uspto.gov/trademarks-application-process/search-trademark-database] - Aside from skincare, this was a big step business-wise. I created my LLC and ensured that I filed my taxes as an S-Corp - this was my personal decision as I am the only member of the LLC. But, I'd recommend reading this to decide which one suits you best: [https://www.rifkindpatrick.com/Blog/2015/November/The-4-Major-Business-Organization-Forms.aspx] - Request your EIN from the IRS. This is absolutely necessary if you want to open a business checking account or credit card. My preferred way of financing has been to open up business credit cards with the 0% intro APRs. That way all I can pay the minimum without being charged interest for a certain amount of time. CAUTION: if you go this route, know there is a big risk if you don't pay off these credit cards before the introductory APR is up. STEP 3: Find manufacturing - This has been the most time consuming process, and you can definitely find yourself ripped off if you don't do your due diligence. - Decide if you want your product contract manufactured (this offers a lot more of your input and is completely custom designed) - OR- if you want to use private label (this is a formula the manufacturer already has that you can buy and put your name on it). Personally, I decided on the contract manufacturing route because there is a very specific feel and ingredient list I would like within my line. - Research and reach out to as many manufacturers as you can! You'll soon learn who you vibe with. Since I am BRAND new to this, I ended up choosing the manufacture that walked me through every cost, so I was never blind-sided. There was an added trust and in my comparisons, they were the middle-of-the-road price-wise. But, everyone will have their own preferences. Here is a basic list of questions I'd have for each company: * How long have you been in business? * What are some clients you have worked with in the past? * Do you assist with finding packaging/labeling? Do you have any packaging/labeling manufacturers you'd recommend? * What is the approximate timeline for production? * What kind of testing do you do? * What is your formulation fee? * What is the minimum SKU (units)? * After formula development, do you own the formulation? If so, do you have a process to buy the formulation from you at any point? STEP 4: Pricing - This step is actually more in line with manufacturing rather than after. It is VERY important to know what you want your product to sell for. That way, you can reverse engineer and find out how money you can put into that product to maintain that price. I ended up making an excel spreadsheet that compared all the manufacturers I was considering. It helped me get an idea of the differences between them that may not have been readily apparent. - Additionally, when pricing, skincare has a HIGH mark-up that I was initially not aware of. When selling retail (on your own website or store) you mark-up is 80%... this allows for a buffer when selling to wholesalers down the road where your mark-up is 60%. (I made a spreadsheet that factored in all these variables, so just PM me if you're interested). STEP 5: Research, Research, Research (Maybe this shouldn't be step five because it continues throughout the entire process) - As I said before, I am still learning. I can't tell you how often I frequently look online get ideas and learn about new ingredients. My main item on my line is sunscreen and there is a TON of information about good ingredients and how the stack up. It gets me excited to read about how I can make it better. - Additionally, it's important to research any of the wholesalers "no-go" ingredients you potentially want to sell to. For instance, CAP Beauty online store will not carry products with any synthetics. STEP 6: Design/Packaging/Labeling - In all honesty, I can't speak to this quite yet because this is where I am currently! If you're all interested, I'll continue to update my process and what I'm learning. IN ADDITION, if ANYONE has gone down this road before and has any further to add, please let me know! [link] [comments]  |
| How many hours do you work as a founder? Posted: 25 Jun 2020 09:54 AM PDT I'm working full time on a startup and I'm the only founder. I'm building an app and usually spend about 12 hours a day coding. Some days an additional 1-2 hours doing market research. Even though I end up knackered everyday my workload is just crazy and it feels like I'm not doing as much as I'm supposed to. I'd love to know how other coders in this space manage their time [link] [comments]  |
| How do you get your startup article/blog post published on Forbes, Bloomberg etc? Posted: 25 Jun 2020 10:47 AM PDT Hey awesome people. I came across a few SaaS startups, and on the landing page, they mention getting featured on Forbes, The Tech Journal, Bloomberg, etc. Do these publications charge? or do we have to contact the author? As these were kind of promotional articles totally focusing on the product and its features. [link] [comments]  |
| Posted: 25 Jun 2020 05:16 AM PDT Hi guys, Do you guys do any branding for your startup? When do you start doing this and how would you go for branding for a startup? I'm trying to figure out whether branding is important for companies in the startup phase and how to do execute on branding initiatives? [link] [comments]  |
| Releasing an app under someone else Apple Developer Account Posted: 25 Jun 2020 03:32 PM PDT I'm releasing an app that allows users to earn money when they play certain sports like basketball, football, & soccer. For the past month the app has been ready to release on Apple on Testflight but no matter what my account can't get approved I've been on the phone with support, they've escalated the claim, they've put in countless tickets to no avail. It has been about 4 1/2 weeks now and they are just as stumped as the beginning. They even suggested making a brand new Apple I.D to no avail My friend reached out with a solution. He has an account and he can easily release it under his account even though it won't say on the store that the app is from company name it will show his company. I reached back out to apple about transferring the app back to my I.D. once it gets approved and they said it's a non issue My question is what sort of legal document should I have my friend sign in this case and/or do you think it is even worth the potential headache to do it in this manner. [link] [comments]  |
| Trying to increase downloads of my Mac app Posted: 25 Jun 2020 12:31 PM PDT I developed a Free Mac app (with in-app purchases), and I have been trying to figure out how to increase my downloads. I'm treating the process of users searching, finding, downloading, purchasing as a funnel: Stage 1: Impressions (results in search in the Mac app store) = 100% Stage 2: Number of Product page views (clicks on store search results) = 7-9% Stage 3: Users that install the app = 3.2% (about 30 to 40% or people who see the product page.) Stage 4: Users who pay for the app = 3-4% of stage 3 = 0.12% (still good) From what I have researched the percentages that I am seeing from stage 2 onwards are pretty good. I have tried optimizations at each of these stages and some of them worked and some did not. I am happy to answer any questions you may have. My problem: How do I get more impressions; Stage 1 For example: people don't come to the mac app store searching for a "keyboard" (limiting impressions); but on the web there are a huge number of pages related to keyboards so it is very, very, very slow to improve search rank. Reviews for the app are good (but not too many). The app is listed/reviewed in sites like SoftPedia, macupdater, and quite a few more. I'm trying to get sites to review the app but haven't got a bite yet. Suggestions? Recommendations? Pointers to people who have done this before? [link] [comments]  |
| Posted: 25 Jun 2020 08:12 AM PDT Hey r/startups I'm looking to build a MVP website where I can charge $x / month for gated videos, voice recording, etc. Any recommendation on provider or feedback on ones you've used? (eg Memberstack, CozmosLabs, etc.) Also, any feedback on platform that it plugs into? (eg Wordpress, Wix, Squarespace, Shopify etc.) Any suggestions would be greatly appreciated - thanks! [link] [comments]  |
| Debate between owners on how to move forward Posted: 25 Jun 2020 11:42 AM PDT So, I'm a young student in college that has been working in bicycle shops for a few years and recently started doing repairs for one of those aforementioned shops. For the past few months during the coronavirus pandemic we have seen a massive spike in sales unlike anything ever before and we were very lucky to have ordered so many bikes before the whole thing started. Now, I have a few friends who also know how to repair bikes and we have been seriously considering opening a workshop of our own, independent from any particular store, since all of these new bikes will need service and the number of capable repairmen nearby is very limited. We are debating amongst ourselves whether we should just own equal parts of the company, run it only during the summer when we are out of school and pay ourselves profits of the company or if we should hire employees, give them proper training and guidance and make this into a full time company, only managing it during the winter. Any and all comments are welcome and greatly appreciated. -Cheers [link] [comments]  |
| Can i get a patent for an idea (App) Posted: 25 Jun 2020 11:37 AM PDT hello fellow entrepreneurs, I am developing/Thinking over an app(basically an idea at this point). Can i get a patent on that idea so that no one can replicate it especially when i bring in the developers? Also, any idea on how to get a patent in US? [link] [comments]  |
| How to get out of commercial lease/membership agreement? (Knotel, specifically) Posted: 25 Jun 2020 07:23 AM PDT Hi, everyone! Not sure if this is the right place to post this, but... I know some newer/smaller/growing companies have struggled during the pandemic, and are faced with the decision to get rid of their physical office spaces. My NYC based start up currently rents office space from Knotel, and we have been there since November 2019. Our building has been closed since March. We've reviewed our membership agreement (Knotel's version of a lease) and we do not have solid ground when it comes to breaking the agreement early. With that said, I was wondering what strategies or tactics other start ups have used to terminate a commercial lease early? Or if anyone could point me in the direction of some resources or other subs that might be helpful, I would really appreciate it. Thank you! [link] [comments]  |
| Posted: 25 Jun 2020 10:42 AM PDT Guys, I'm doing some heavy soul searching and need advice I'm an employed software dev working full time. Been working on a side business (subscription based SAAS) for a while. Not launched yet. Still building the product. Working on it evenings and weekends. I'm curious if there's any advice on when it's a good time to quit my job and focus full time on my product? "When you have enough revenue to sustain yourself" I'm imagining that's a solid answer but I'm afraid if I do that, it's too late. I won't be able to handle all the support, bug fixes and other types of challenges that a product launch presents, while working full time.. I have a 3 month notice period and I have enough money saved up to live off for about 2 years, so I'm playing with the idea of timing it so that when I quit my current job and am out of the company, I'm ready to launch my business and product. Or is that too much of a leap of faith? I always figure my worst case scenario is that I will burn through my savings and go back to being an employed software Any advice or guidance is appreciated. [link] [comments]  |
| How do you go about setting business emails and accounts etc? Posted: 25 Jun 2020 07:34 AM PDT Hi! I cannot really explain clearly but here we go: What is the best solution for the business 'XYZ'. I just want to see what I can improve. -----------------------------------------------------------------------------------------------------------------------------------------------------
- Irrelevant to this, for those who have multiple businesses, do you guys do you use Google Calendar, Apple Calendar, or something else. - How do you guys lay out your files on your desktop/cloud drive? [link] [comments]  |
| You are subscribed to email updates from Startups - Rapid Growth and Innovation is in Our Very Nature!. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment