Startups Feedback Fridays - A Friendly Feedback Exchange For Ideas and Products |
- Feedback Fridays - A Friendly Feedback Exchange For Ideas and Products
- What are the most complete, A-Z startup resources you know of?
- Are banks cheaper than PayPal or Stripe for card processing?
- What vertical are dating apps like Tinder & Bumble in?
- How do I find a reliable mailbox service?
- Service offering to start ups and SMEs that also acts as corporate social responsibility?
- Post startup blues - Can you retain the pace of ultra-rapid development?
- Crash course in product management for tech sales guy in new software startup?
- First team member - how much to offer?
- Business Capital?
- Starting an online tutoring business
- Having trouble getting buyers
- Investing in a start up...do I do it or not?
- Should every founder get equity
- Hiring a web/software agency for my web/software agency. What do I need to do legally?
- Should I file as an LLC?
- Want to start something but so much competition!
- Anyone know of some detailed example/real restaurant sales data (PMIX Data)? Daily sales for particular items over many days/weeks/months?
- Post-money caps are kind of confusing and misleading - agree / disagree?
- How do I start a business as a wholesaler ?
- I have a client that wan'ts me to do marketing for him, I have done it before through my old jobs, but whats the best way to track billing and do billing for this?
- How to attract first-new users to your "social-media" website?
- Looking for advice on equity and structure for an overseas subsidiary
- Got the first customer, now what?
| Feedback Fridays - A Friendly Feedback Exchange For Ideas and Products Posted: 03 Jul 2020 06:07 AM PDT Welcome to this week's Feedback Thread. This is the place to request feedback on your ideas and products. Be sure to give feedback if you are requesting feedback. Equivalent exchange goes a long way towards reaching your own goals and it makes for a stronger community. Please use the following format:URL: Purpose of Startup: Technologies Used: Feedback Requested: Additional Comments: Post your site along with your stack and technologies used and receive feedback from the community. Please refrain from just posting a link and instead give us a bit of a background about your creation. Feel free to request general feedback or specific feedback in a certain area like user experience, usability, design, or code review. You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| What are the most complete, A-Z startup resources you know of? Posted: 03 Jul 2020 09:21 PM PDT I'm looking for books, sites or other resources that give a 'complete picture' of the startup from inception, all the way to scale and acquisition or huge growth. Ideally, it would 'start at the beginning' and go on from there. The kind of resource that if a person would put the time in, they'd have a pretty good idea of how a startup works overall. I'm looking at it from both a business perspective, and a 'practice' perspective, similar to what you might see in Shape Up (the basecamp book: https://basecamp.com/shapeup). Another well known one is The Startup Playbook (Sam Altman), which is decent high level advice but doesn't give near enough detail for what I'm looking for. Anything come to mind? [link] [comments]  |
| Are banks cheaper than PayPal or Stripe for card processing? Posted: 03 Jul 2020 02:30 PM PDT I need to start processing payments made with a credit/debit card as I will be selling merchandise online for my startup. I'm looking at different merchant providers. Does anyone here have experience working directly with banks (specifically looking at Chase Merchant Services)? Do banks usually offer better processing fees than PayPal/Stripe? [link] [comments]  |
| What vertical are dating apps like Tinder & Bumble in? Posted: 03 Jul 2020 11:35 AM PDT Every time I apply for programs, I have trouble finding a good fit from the list of verticals. For example, from this list of verticals, a dating app would either be Mobile Commerce or SaaS, but neither fit exactly. Even from this list of PlugNPlay's programs, I don't think there's one that dating apps fit in. Any idea what vertical a dating app belongs in? [link] [comments]  |
| How do I find a reliable mailbox service? Posted: 03 Jul 2020 07:23 PM PDT Since my business is completely online and I don't want to use my personal mailing address as my client-facing address, I need to find a mailbox. I've looked at Earth Class Mail, but I've read countless 1-star reviews on their service. Does anyone have any recommendations? I need a service that could provide a real US-based address along with scanning and shredding of mails. In most cases, I won't need forwarding and check deposits. [link] [comments]  |
| Service offering to start ups and SMEs that also acts as corporate social responsibility? Posted: 04 Jul 2020 02:10 AM PDT Would you be interested in offering an internship online ? An internship that's project based (duration is according to the project). Also what would be priority, the experience of the intern by portifolio or the salary youd pay? How much would you expect to pay anintern who is offered a work placement that can be done remotely? Just curious, my peers and I are creating a platform to connect fresh graduates/new skilled workers to business (mostly start ups and SMEs). The talent would be working under our brand as per the project provided. (Think of it as freelancing, and if a project offer comes up, you will be under contract for that duration of the internship). Their portfolios would be based on the Company they do the project for. Thus building their experience and their portfolios remotely and in a flexible manner. While also offering new ideas into your business with an aspect if quality (we vett each applicant from previous projects they have done in their institutions and outside of it) We arent done putting everything together, but would you be interested if this service was available? [link] [comments]  |
| Post startup blues - Can you retain the pace of ultra-rapid development? Posted: 03 Jul 2020 03:53 PM PDT My company is in a bit of denial about the fact we're moving out of startup mode. I like the term scale-up as we are at the point where we have production services in place supporting more than a couple of revenue-generating customers that require us to be more risk-averse and formalise a Agile Development Methodology to co-ordinate activity. I was basically brought in to move us through the scale-up phase as this has become my area of speciality and like every other time I've done this the co-founder/CEO/HIPPO wants to retain the rapid pace of development you tend to get with a team of fewer than 3 people, lots of caffeine and 100% equity. Our pace of delivery is not exactly slow with a still-maturing CI/CD pipeline supporting multiple deployments a week but it's not what it was when customers were in the single digits Am I missing something? is there anyone here in a similar boat or know examples of companies that have scaled up and successfully kept a startup mentality? edit: spelling [link] [comments]  |
| Crash course in product management for tech sales guy in new software startup? Posted: 03 Jul 2020 09:21 PM PDT Hi all, I'm an enterprise tech (project management software) sales guy on a career break, and some friends and I have come up with an idea for a software product for the medical industry. I will be heavily involved in product management in the early days (or at least the customer/business facing sides, since I'll be on a team with a doctor and a developer). Seems like my first project will be to analyse the existing competition, the reasons there is no adoption of existing products (already know there is no adoption, through my doctor teammate), and then work with my dev teammate on what/how to build. Would anyone be kind enough to point me in the direction of how to start learning, or let me know if I have dunning kruger'd myself into missing some other important things I need to be learning/doing? Thanks! [link] [comments]  |
| First team member - how much to offer? Posted: 03 Jul 2020 07:30 PM PDT I've been working on developing my startup platform, and after restarting a few times due to running into UX/UI problems, I decided I needed a designer. I interviewed a few candidates, and found one that believes in the mission, is someone that I can get along with, and also has a passion for design as well as a diverse background in finance and business as well. We are both young and very early in our careers, and this product has yet to be launched (due to the roadblocks I've been facing). I am not funded, and the candidates knew this was an equity only position when applying. I am now trying to figure out what to offer this individual. He has a diverse background and I can see him assuming other responsibilities. Is 25%, with 5% vested after 1 month, and then 2.5% vesting every month after that fair? And since he is getting nothing for the first month, I figure I would throw in $500 for the first month (I know it's not much, I'm not prepared to pay too much) just so there's at least something for the first 30 days? Does this sound OK? The last thing I want to do is set the wrong tone from the start. Perhaps 35-49% is more reasonable? [link] [comments]  |
| Posted: 03 Jul 2020 10:44 PM PDT My small business has had a great year so far, and I've made the mistake of just using PayPal business for 95% of my transactions and not using a business checking account. This is now preventing me from getting business lending even though my monthly sales are great. My company is 1.5 years old now. And my personal credit score isn't ideal, but not terrible. PayPal won't give me a business loan even though I meet their requirements because of my personal score. Other lenders won't lend to me because I haven't been using a business checking account. They require 3 months of it. So mad at myself for not knowing this. Any leads on other avenues? I've grossed $50k in sales so far in 2020. Thanks! [link] [comments]  |
| Starting an online tutoring business Posted: 03 Jul 2020 10:24 PM PDT Hey guys, I'm currently in the process of starting an online tutoring business. I'd like to charge money so that I can keep the website running and pay for the domain as well as any other costs that may incur. However, I think if I charge money, it'll decrease the amount of potential customers. Other options could include that we start off free but then charge a one-time cost or just keep the funding to donations or sponsorships (but not sure who would sponsor a brand new online tutoring start-up). Any ideas what I should do? I'm a student and won't be able to afford paying out-of-pocket for very long. [link] [comments]  |
| Posted: 03 Jul 2020 01:23 PM PDT I own a monthly service that deals with cheaper tv and I'm having issues getting new people. I've gotten 2 people so far, and they love it but I'm stuck in a rut currently. I can't get new clients. How did you guys sell subscription services? Any Advice? Appreciate any help! I'm not looking to buy ads. Thank you! [link] [comments]  |
| Investing in a start up...do I do it or not? Posted: 03 Jul 2020 05:24 AM PDT Hi all! There is a contact of mine raising funds giving a valuation of £1.75m, looking to give 10% away. Start up is in App in a growing market, with a good idea (I am happy with the product). Currently the app has only been up and running for 2 months, and has got 4k downloads and 2k recurring monthly users. My question is: 1 - what is the logic in going to friends and family? 2 - why not use their own funds (I know they have savings c.50k, so far invested 5k plus time)? 3 - how valuations for early stage start ups are actually derived? the 1.75m valuation is essentially based on comparable companies but not much clear info on that. 4 - Last but not least, thoughts on the founder taking salary funded from the angel round? Thanks in advance! [link] [comments]  |
| Should every founder get equity Posted: 03 Jul 2020 10:18 AM PDT Basically, we're a 5 man team. 2 of the founders do not contribute significantly to the startup and will be leaving to another country (will work with us remotely) in the near future. -> One of those gives us good insight and See's the big picture imo, but he basically left for 5 months and we've been doing fine without him; he does not really contribute significantly to concrete work like but gives us vision and insight in the stuff he says and we would act on those kind of. One thing to consider, he basically came back after we got "free funding" (50k worth) by wining competitions and we've been doing really well without him. Im considering giving him 10% to keep him around. And the other one just doesn't do much and I want to give him none The rest of the team (3 others) are a lot more dedicated and contribute significantly to the Project to make the startup work. My question is, should everyone get equity? We basically built this startup as a fun project between friends at first. My equity separation looks like this: 30, 30, 30, 10, 0 Edit: this startup is about 10months old and we have a lot of traction considering covid [link] [comments]  |
| Hiring a web/software agency for my web/software agency. What do I need to do legally? Posted: 03 Jul 2020 11:48 AM PDT What do I need to do to legally get everything in order? I have some clients, and found a great dev team. But I've never hired anyone before (and I can't do all the work myself; that's why I'm hiring them). What do I need to do? They're based here in the U.S. I've registered my software firm as an LLC. No clue what else to do. I'll be interviewing them once I have an idea of what I need to do legally. Can anyone help? Thanks in advance. [link] [comments]  |
| Posted: 03 Jul 2020 11:32 AM PDT Should I file as an LLC? I am headed into my senior year of university as a Computer Science and Mathematics double major. I have been working on a piece of software relating to visitor management and contact tracing, it started as a mere project from a combination of entrepreneurship and software development classes taken at university. The software is based on a subscription model and I just signed on my 6th client. The software I have developed is highly scalable and I am at the point where I am considering if I work full time on this venture after graduation, or seek out traditional full time employment. I am currently making $720/month on the 6 subscriptions. I believe I could easily hit 20 subscriptions by this time next year if I began cold calling. All of my current clients have been through word of mouth from my original client. Now to the question... I currently operate as a sole proprietorship and if I did begin to grow I feel like I might need to consider an LLC or C Corp structure. I would like to be able to hire an employee and offer them some compensation as equity of the company. If you have any experience with software startups, what type of business structure do you recommend? [link] [comments]  |
| Want to start something but so much competition! Posted: 03 Jul 2020 02:32 PM PDT There's so many ideas out there for new startups, but you start doing the market research around it and there so many fairly good other startups doing similar things. How do you know if it's worth investing time and effort if other ideas are already so far ahead or funded by big VCs. People say execution is everything but part of good execution is having confidence they you'll win which would be hard to know at the beginning. [link] [comments]  |
| Posted: 03 Jul 2020 07:54 AM PDT Currently working on startup and could use some PMIX data for some predictions/example data. All help is appreciated. I don't care necessarily what the restaurant is but I'm having a hard time making up information as I feel it's not real enough. I don't really care about the costs of each product, I'm more interested in how many times product X is sold a day over time. [link] [comments]  |
| Post-money caps are kind of confusing and misleading - agree / disagree? Posted: 03 Jul 2020 12:13 PM PDT I only recently found out that YC in late 2018/early 2019 began pushing a new version of their SAFE note with a "post-money cap". I discovered this while helping a company evaluate the term sheet they received that had a line for "VALUATION CAP" with a number that was 30-40% higher than we were all expecting and an ability to raise twice as much money as they had planned on! When I went to dig in, I saw the term sheet said they would use YC's standard SAFE, and a link to this page: https://www.ycombinator.com/documents From there you get the details of YC's standard SAFE which is now a post-money capped safe. In the site's description of why they changed to a post-money cap, it says it "is a huge advantage for both founders and investors" I don't know. For as long as I've been in the startup and investing game, it feels like everyone was trained to think of valuations and caps as pre-money. I don't like how term sheets look the same as before, they put out much larger valuation numbers optically, and then it's not clear to all founders that taking more investment essentially drops your pre-money valuation. Any thoughts? [link] [comments]  |
| How do I start a business as a wholesaler ? Posted: 03 Jul 2020 11:30 AM PDT I want to start a business as a wholesaler about essential daily product goods. I own a land near a suburb (where I'm trying to start it from). I did some market research (only theoretically) like how to do and all. What I don't have much for now is negotiation skills (I'm not on expert level). And most important - I don't know much about my competitors. How they work or how they apply there strategy and all. Just don't know how to get information about them. I'm talking to people and gaining as much as information I can get from everyone. my suggestion and advice about how to be in it and survive will be really helpful. Thank you. [link] [comments]  |
| Posted: 03 Jul 2020 11:23 AM PDT This might not be the right sub (if its not let me know where a good one would be) but there are a lot of free lancers on here I thought could point me in the right direction. I am trying to provide basically a one stop shop for small businesses, from strategy for their business to site development to marketing etc. I just want to know maybe the best platform to manage/bill clients etc. if anyone else has tried to do this or is currently doing this could give some insight. Most noteably I would like to know how to you bill for Ad spend? I was to charge a flat rate plus a %of the ad spend so like $250/mo + 10%-15% of ad spend. [link] [comments]  |
| How to attract first-new users to your "social-media" website? Posted: 03 Jul 2020 04:52 AM PDT How big social media companies were able to grow so fast and big, how people started to know about this media, what factors give a boost Is there are a strategy, like advertising, or it is just luck and huge thousand dollars investments that can lead to the success of your social media? [link] [comments]  |
| Looking for advice on equity and structure for an overseas subsidiary Posted: 03 Jul 2020 08:25 AM PDT Hey guys, Currently, I own a US-based design & marketing agency. We have a freelance contractor (designer) who works overseas and has been contracted with us for about 3 years now. We are thinking of opening a subsidiary in the region (Sweden) where he lives since we think there is potential for us to get clients there, and overall grow the company's presence and name. I'd love some advice on how I can go about doing this since he would be running the show out there using our agency's name. Ideally, I think it makes sense to give him a percentage of equity. However, at the same time, I want it to be fair for all parties since he will be the one bringing in most of the work and doing it as well. First I thought to do 51% me / 49% him since it's my company and I started it. But I don't think that would be fair. For example, if he's winning the work and doing it, it doesn't make sense for me to keep 51% of the profits. Overall I trust him and, personally, I'm okay with him having more share of the revenue from there, however, I still want to keep full control of the company and brand. Additionally, a small caveat, we send most of our design work from each project we have here in the US out his way since its more cost-effective for us (over hiring a fulltime designer here). We've paid him as a contractor in this sense. So moving fwd those funds would go to that subsidiary we open. [link] [comments]  |
| Got the first customer, now what? Posted: 03 Jul 2020 08:25 AM PDT I create custom videos for people/businesses. Managed to get a pretty decent known customer through a contact and was commissioned to make multiple videos for them since they liked my work. I've made a website, I've written a few blog posts about what I do etc. My questions is where do I go from here? How do I start reaching out to those that I don't personally know for them to reach out and perhaps get the conversation going? I'm very new to this and have never build a sales funnel or done marketing before so feeling kind of lost, are there any guides/tool kits/videos/people I can follow to give me some ideas? Was thinking of reaching out to people via LinkedIn and also sending an email campaign to companies I think could be interested but other than that, I'm blank. Suggestions? [link] [comments]  |
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