Startups Peer Support and Self Management Saturday’s - A Safe Place to Vent, Seek Emotional Support, Share Self Management Techniques and Experiences, or Just Rant |
- Peer Support and Self Management Saturday’s - A Safe Place to Vent, Seek Emotional Support, Share Self Management Techniques and Experiences, or Just Rant
- How to choose the CEO of a startup with 3 founders?
- Building a business without belief or vision.
- Find a technical co-founder, work with a freelancer, or learn to code?
- Sending business emails on the weekend?
- How do I split the % profit/revenue with my cofounder?
- Validating idea which involves a marketplace
- How much Equity to ask for as a Web/App Developer?
- Recommendations for a business checking account?
- Interested in coming out with a natural hair oil line but I’m scared
- How do I start/rebrand my business?
- How to market educational games
- How to make up for traction when looking for investors?
- Web development subcontracting with ad / web design / digital marketing agencies?
- Fair compensation for partnership where I have no investments?
- What compensation should I be seeking?
- How much equity shall I offer to the co-founder
- Can any SaaS Startup CFO judge my 3-year forecast?
- Where to begin to start selling?
- Paid Chrome Extension Advice
- Sunday’s Success Stories - Celebrate Your Successes From the Past Week: Anything goes, none too small!
| Posted: 27 Jun 2020 06:05 AM PDT Welcome to this week's Peer Support and Self Management Thread. This is a Safe Place to Vent, Seek Emotional Support, Share Self Management Techniques and Experiences, or Just Rant. The goal for this thread is to help one another manage mental and physical health so we can more easily find success. We all struggle sometimes and it is important to recognize that the struggle is part of the journey. The important thing is to learn how to overcome that adversity to grow and succeed. Be tactful and classy in how you vent your feelings and share your frustrations. Act in a mature manner. Ask questions, share experiences, and be there for one another. Practice empathy in giving advice and remember that what worked for you isn't guaranteed to work for others. Make suggestions, not demands of others. #Because this is meant to be a safe place to support emotional and physical health there is a zero tolerance policy in effect. Be KIND. Be sure to report any conduct that is in violation of that key tenet. You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| How to choose the CEO of a startup with 3 founders? Posted: 27 Jun 2020 02:39 PM PDT I am in the following situation. I and two old friends of mine are in the process of founding a technical startup in the financial industry. We all have different backgrounds. One is a banker, the other a lawyer and I am a software developer. So our roles are strictly divided. The idea for the startup comes from me, but I don't think I would be the best manager or representative. Nevertheless, I would like to play a decisive role in decisions that affect the company. Do you think 3 CEOs are feasible (democratic decision-making) or according to which criteria should we make the decision? [link] [comments]  |
| Building a business without belief or vision. Posted: 27 Jun 2020 11:33 PM PDT It's ironic. 3 years ago, when I first started my business after graduating HS with no previous work experience, no business experience and no skill in anything whatsoever, I was confident as a motherfucker. Even more so, at that time I was flat broke. Like worrying about when our lights will get cut type of broke. For context, the business is a service based one - I work alone in it, it doesn't require any market validation, it's a proven and fairly safe brand and marketing consulting business. I'm no much better position today financially, 3 years later, which is why I feel is the reason that I lost that belief. I've been working a 9-5 job + at least 6-7 hours for my business every day. If I weren't at a 9-5, I would be completely broke again. The business is a service based one, and it never "took off" the way I expected it to. I have a few clients every now and then, once every few months, but I never managed to make it a stable, predictable source of income - let alone started scaling the business (hiring more people, etc.) I can see small improvements every day though, but there is nothing anything major happening. No breakthroughs. There is always that little voice in my head telling me that I should quit. That voice saying "IT'S BEEN 3 YEARS. IF YOU HAVEN'T MADE IT BY NOW, YOU WON'T EVER MAKE IT". Due to lack of belief in this, every day at my business is filled with terror and dread. I strategize the same weekly and monthly business plans for 3-4 times, and still double and triple check myself while executing, I'm so afraid of making a wrong move. Have you ever been in this sort of a severe slump? How did you move forward from it? What would you suggest I do? I apologize if this isn't necessarily startup related, but I believe this sub is a home to REAL entrepreneurs, unlike other subs. [link] [comments]  |
| Find a technical co-founder, work with a freelancer, or learn to code? Posted: 27 Jun 2020 05:40 PM PDT Over the last year, I've been doing research and user interviews on a concept similar to Yelp but with a twist. As Covid19 hit, I figured it would be a great time to get ahead and work on an MVP to be ready by the time the restaurant/bar scene is back to normal. But, as a non-technical founder (I have Product Management experience), I'm trying to figure out the best way to get an MVP built. I played around with building prototypes using Google Sheets/Maps, but felt they didn't do a great job of framing my hypothesis. I'd like to build an MVP, but really focusing on the "minimal" and "viable" here. I feel like I have three options:
Curious to learn if there is a better option here? [link] [comments]  |
| Sending business emails on the weekend? Posted: 27 Jun 2020 07:48 PM PDT So I've crawled the web and created a list of potential clients to whom to sell my web development services. I'm wondering if I should go ahead and email them now (asking for subcontracting work), on the weekend, or wait till Monday. Can anyone help? Thanks in advance. [link] [comments]  |
| How do I split the % profit/revenue with my cofounder? Posted: 27 Jun 2020 06:06 PM PDT Hi everyone. I have googled and googled but havent found a sufficient answer. I am hoping you guys can offer some insight. Thanks in advance! I really appreciate any help/advice. As unbiased as I can, here are the facts. I have been working on a project for the past several years by myself. I set up an LLC, got mentored from a small business development center, created business plans, created assets and documention (on how to build the software) and continually work on the business almost every day. The only thing I need help with is coding the software (FWIW I did try to do it myself, and it's not my strong point, hehe). In the past couple of months, I got in contact with someone who can build the software I need and we are trying to work the best way to go apportion revenue. Company ownership: 100% me. The LLC is going to be in my name by myself, non-negotiable because they do not want to and we can't work out the logistics with them in a different country and the liability of working with someone we each haven't met. Founder #1 – me CEO, contribution: effort and capital Their duties: build the software or as much of it as possible; after product launch they will maintain software, do software upgrades, and customer service. Plans to work on these things in their free time with no intention of leaving day job. My duties: excluding all my prior work I will manage the business and all aspects of it from trademark, legal, operating costs, development costs, company expenses, create and maintain website, marketing and promotion, create assets (meaning artwork for product, graphic design, logo etc), contribution of up to $20k capital (not much spent so far), and can bring to the table personal contacts to promote product (including influencers, retailers, publications, etc). I will be carrying out these duties in my free time but intend to leave my day job to work the business full time as soon as possible once product starts bringing in stable profits and we're sure it isn't a flop. My dilemma is that I could hire someone outright to code the software (with my budget it will be a shoddy MVP) but I will get 100% of revenue OR I could have this person build the software at no upfront cost and get a product much closer to what I'm looking for (they understand what Im trying to build) but I give up a (significant?) % of profit/revenue. I am accounting for vesting, operating costs, putting income back into the business (did I miss anything). How do we determine ROI and revenue % split between us? What's a fair distribution? Thank you so much! [link] [comments]  |
| Validating idea which involves a marketplace Posted: 27 Jun 2020 09:33 AM PDT I am working on a business idea which is for lack of a better general description an 'uber for <niche>' where a service worker signs up and provides proof they are certified and licensed and will then set their hours and services offered - the niche I am focusing on has workers offer up to ~13 different services. The customers will be able to book the service they want and specify a location for it to be performed. I'm trying to figure out how to validate this, I know my target worker is 18-35 female with proper schooling and my target customer is 16-50 female that wants the service provided. The place they would spend the most time is Facebook and Instagram so I will try advertising there. Since it is closer to a market place than a traditional business I am thinking that I will need to focus on multiple ads and validation methods. One for the worker/serivce provider and one for the customers/end users. Would creating two landing pages that focus on the different types of people I need then trying to drive traffic to the landing pages and seeing how many sign up for a mailing list be a good way to validate the business idea? I could cut out the service worker part by hiring my own workers though that likely takes more cash than I have and would end up having to raise money too early. [link] [comments]  |
| How much Equity to ask for as a Web/App Developer? Posted: 27 Jun 2020 03:23 PM PDT Hello everyone. First off, thank you so much for taking time to read my questions, that means a lot. I have recently been asked by a friend of mine to join a startup. The idea is juicy and I believe in it. I have also been told that I would receive equity in the company rather than a salary working as a web/app dev. Being more tech savvy than business minded, I was wondering how much equity I should ask for. If I were to jump on board, I'd be the 4th person to do so. It is also a C corporation but I have no idea if that status plays any role in the amount of equity I would receive. Please, do let me know though if I have left out any information that would be more helpful. Thank you very much for your time :) [link] [comments]  |
| Recommendations for a business checking account? Posted: 27 Jun 2020 08:22 AM PDT I reside in the US and registered a C Corp in DE. I'd like to open a business checking account. I've been reading a lot of negative reviews on SVB. What are some banks that a tech startup founder should consider? I'll set up an e-commerce store and process payments through PayPal/Stripe. If all goes well, I expect lots of transactions happening every day (thousands perhaps tens of thousands daily). I also need to be able to handle chargebacks/refunds gracefully. [link] [comments]  |
| Interested in coming out with a natural hair oil line but I’m scared Posted: 27 Jun 2020 10:45 AM PDT I've been thinking about it for a while. I want to start selling hair oil for natural hair but soon it will be all hair types. I have results that speak for itself but I just don't know where to begin or how to do it. Those who started in beauty, how did you do it? [link] [comments]  |
| How do I start/rebrand my business? Posted: 27 Jun 2020 03:10 PM PDT Hello! Thank you for clicking (or tapping) on my post! So a bit of background information: Last year I posted like 2 things on this app called Poshmark. It's nothing major, just a sweater and a hoodie. I forgot about it for months until one day I woke up and I had an offer on my sweater. At this point, I didn't really understand how the app worked, but I counter offered them for a price that was a dollar higher, and they accepted and I got an email telling me I had made a sale. I was very excited because I had never had any successful business endeavors besides this one and I've been looking for a job or a way to make money on my own independent of my parents but I wasn't having any luck finding anything flexible to my schedule as I'm busy with high school. After a while I started listing more items, expanding to different platforms, and getting more sales. One day my aunt came to visit, and she saw how my business was going, and she along with my other aunt decided to invest. They bought me stuff to package my items as well as business cards to put into my packages. Fast forward to the present: I haven't been making as many sales and I started to get to thinking. I don't want to sell or resell used and new clothes for the foreseeable future because eventually, I'm going to run out of clothes to sell. I also don't want to start having to buy clothes just for the purpose of hiking up the price on them and I don't want to contribute to the fast fashion industry. After having a conversation with one of my close friends, I came to the conclusion that I want to start re-branding my brand and distance myself from the re-selling industry. I have an idea of what I want to start selling but I don't know where to start. I want to start selling candles and wax melts and probably expand from there. The thing is, I don't know where to start. I don't even know if I actually want to sell candles or something else. I've made candles before for personal use, so I have some sort of idea of how to make the candles and that's really it. But what I'm really having trouble with is how to start and kick off my new business venture like where to start selling, how to get my brand out there, how much should I spend, etc. Any advice would help me out a lot! Thank you for taking the time to read this! Tl;Dr: I want to move away from re-selling clothes on Poshmark/Mercari and start selling candles and wax melts, but I don't know where to start. [link] [comments]  |
| How to market educational games Posted: 27 Jun 2020 09:01 PM PDT Guys, I am really confused on how should I market my educational games because I am new in this industry and have a very brief about about marketing educational games. Any suggestions which courses should I study and what all points should I keep in mind before marketing. [link] [comments]  |
| How to make up for traction when looking for investors? Posted: 27 Jun 2020 08:32 PM PDT Hello everyone, I'm about to begin my journey as a founder. I'll be creating my startup in the fintech sector and the particular field we are targeting is heavily regulated. It seems so far that we can't even make a beta version of the product without getting the aproppiate permits. I've done the math and expect to use around 80%-85% of our funds just to cover legal fees and lawyers which means we'll be seeking investmet from a very early stage in which we might not even have enough traction to show off. I would like to know your thoughts about what other things we should focus on to atract potential investors or if anyones has gone through a similar situation what did you do. Thanks guys. [link] [comments]  |
| Web development subcontracting with ad / web design / digital marketing agencies? Posted: 27 Jun 2020 01:40 PM PDT I want to start cold calling agencies to ask for subcontracting work, but I'm unsure how to go about it. I'm a Python / Django full-stack dev. I have been told that this is too advanced for many agencies, as most are looking for Wordpress / PHP devs. I don't want to have to move to that, even though my first language was PHP. But I will if I absolutely have to. How do I go about asking for subcontracting work? Should I email them first? It's likely that a receptionist will be the one that gets my call. How do I ask for the decision makers? Thanks in advance [link] [comments]  |
| Fair compensation for partnership where I have no investments? Posted: 27 Jun 2020 12:06 PM PDT |
| What compensation should I be seeking? Posted: 27 Jun 2020 12:38 PM PDT I am potentially going into partnership with an investor who has an idea and wants me to set up and run the operation. The plan is, we have an agreement in place where I get the idea off the ground and after 12 months, we decide whether to progress the idea together, not at all, or part ways. He has asked me what compensation I would want for the commitment. Bearing in mind I would be still working my current role full time, what is a reasonable amount for doing this? Do people normally seek $$, equity, or both? Any advice would be greatly appreciated. Thanks! [link] [comments]  |
| How much equity shall I offer to the co-founder Posted: 27 Jun 2020 12:00 PM PDT Can you please help me in deciding how much equity shall I offer to the c founder who is not monetarily invested in the app. They will manage the code of the app and I have actually outsourced the development. Operation cost is 20% of the development and they will be taking care of this side I guess. It's difficult fore to get the investors without the co-founder as I don't have a tech background. Let me know if I should have a Co-founder or not and if yes then how much equity they should get. [link] [comments]  |
| Can any SaaS Startup CFO judge my 3-year forecast? Posted: 27 Jun 2020 05:06 AM PDT I'm looking for some good samaritan who is an expert in SaaS Startup Finance to judge my 3-year financial forecast. I'm the startup CEO and, although I have some basic financial skills, I wouldn't call myself an expert. I still don't have finance talent in my startup, although as time goes I'm realizing how important this is. My startup heavily relies on channel sales. In fact, I'm not planning to hire in-house sales teams, at least for the first 3 years of operations. I'd rather focus on tech and customer service, since we are nerd at heart, more than salespeople. The plan shows some healthy and growing Net Profit and Gross Margin over the years. However, I don't understand why both my Gross Margins % and Net Profit % tend to decrease over time. Not sure if there is an accounting issue, or if it's normal given the growth? Thank you so much for helping and I look forward to establishing a consulting relationship with you once the business evolves. [link] [comments]  |
| Where to begin to start selling? Posted: 27 Jun 2020 10:10 AM PDT I have spent the past 2 years building my startup, we are a youth sports streaming company that lets youth organizations like travel leagues, schools, and tournaments to stream their events for free. All of our content is created by the organization. We have various value propositions and advantages, we have a mobile app, integrations with top companies, etc. Our main method of income is 1) Advertising 2) Pay Per View 3) Digital Downloads of events. Our platform is ready to go and functional now. We are an LLC, have filed taxes for last 2 years, and have about 20k in revenue for FY19. We have massive leads lists, market data, etc. We have some users, but not a lot. The goal of this was to make millions, but unfortunately, life changes come about that I can't wait to see the return on the company and I need to sell. I have no clue where to begin to look to start selling. Flippa seems too basic for this. FYI- I am not selling due to COVID, we actually were able to pivot and raise revenues during COVID. [link] [comments]  |
| Posted: 27 Jun 2020 03:08 AM PDT Hi All After some advice regarding paid chrome extensions. Just reading the Chrome Webstore Developer Agreement and it states that as opposed to the Play Store where Google charge, collect and remit the necessary sales tax, VAT, GST, that on the Web Store the developer is responsible for doing this. Also it states, that you can charge a fee for your extension without using the Chrome Store payment processor and payment processing services. Just wondered what people's experience of this was? Reason I ask is, because I would be looking to use a Merchant of Record such as Paddle, 2Checkout or Fastspring as my payment processor as they also charge, collect and remit the necessary sales tax, VAT, GST on your behalf making things easier. So just wanted to check, as per the developer agreement, I was right in thinking that I can use a Merchant of Record to process payments as opposed to using the chrome store payment processing. [link] [comments]  |
| Posted: 27 Jun 2020 06:05 AM PDT Welcome to this week's Sunday's Success Stories Thread. A lot of us get way too hung up on the destination and the fact that we are not there yet. It is important to take a moment to reflect on a great quote from Agents of S.H.I.E.L.D., "The steps you take don't need to be big, they just need to take you in the right direction"- Jemma Simmons This is extremely relevant to all of us in this community. We should all be more aware of the successes we achieve every day that carry us closer to our goals. Celebrating these successes, no matter how small they are, allow us to stay motivated, focused, and happy while we struggle to achieve dreams of various sizes. The purpose of this thread is to share our successes from the week with one another and have something to celebrate together. So, let us know what successes you have achieved this week! Nothing is too small or insignificant! #Because this is meant to be a safe place to support emotional and physical health there is a zero tolerance policy in effect. Be KIND. Be sure to report any conduct that is in violation of that key tenet. You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
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