Startups Tuesday Operational Roundtable - A Forum to Ask About Legal, Accounting, Project Management, or How to Get Started |
- Tuesday Operational Roundtable - A Forum to Ask About Legal, Accounting, Project Management, or How to Get Started
- Before starting your company, did you research everything that could be a potential problem, or did you just wait for a problem to happen before learning how to deal with it?
- Finding cofounders for my startup during the covid-19 quarantine
- How do you triangulate on the right price for your product?
- I made the one mistake I didn't want to make. Working with people I don't like.
- Healthcare for team distributed across states?
- Questions about registering a small tech business
- A skincare brand
- Is .io domain worth it?
- Looking for help starting an outsourced sales team
- Raising money for my startup and have some questions about which platforms to use.
- How much equity should you request for putting in sweat equity in a unfunded start up ?
- Marketing Tools for Startups
- Stuck finding a business bank (UK)
- Equity distribution help
- Hearing "we're getting funding soon" for over a year - but no clear evidence of those efforts
- Do I need a team or help to launch a MVP?
- How expensive is making a smartphone nowadays, really?
- Brainstorming with a potential co-founder
- Cofounder is no longer pulling his weight and is passive with his role?
- Managing technical debt in a tech startup
- How do I get more people to order?
| Posted: 07 Jul 2020 06:06 AM PDT Welcome to this week's Operational Roundtable Thread. Ask about anything related to legal, accounting, project management, or how to get started. 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]  |
| Posted: 07 Jul 2020 11:46 AM PDT I'm interested in starting a company. But I have no formal training or education. I know that there are a jillion obstacles toward getting my business off the ground and a bazillion more that could end it quickly. Is it better to try to learn as much as possible BEFORE starting the company or should I wait until AFTER a problem happens to spend time learning how to fix it? [link] [comments]  |
| Finding cofounders for my startup during the covid-19 quarantine Posted: 07 Jul 2020 10:51 PM PDT I'm currently working on creating a music tech startup, and am in the process of creating a rough prototype to potential cofounders so that I can best explain the goals of the product. Once I'm done with it, I want to meet with some people who would be willing to join me. However, because of the quarantine I can't go to networking events, and I'm someone who likes face-to-face communication. I'm currently a college student, and my ideal cofounders would be individuals who are interested in music and technology, and preferably in university as well. I was wondering what are some ways I can find cofounders and key team members during the current state of the world. Thanks! [link] [comments]  |
| How do you triangulate on the right price for your product? Posted: 07 Jul 2020 05:04 PM PDT I have an app that I charge $5/mo for. People occasionally tell me it costs too much and I should lower the price. But would $2 or $3/mo actually get them to buy, or is there something else going on?
For context, my app helps people remember names and details about people they meet. It's aimed at consumers. [link] [comments]  |
| I made the one mistake I didn't want to make. Working with people I don't like. Posted: 07 Jul 2020 07:25 PM PDT I did one of the few mistakes I didn't want to do if I ever wanted to start a company. I choose people to work with me without knowing about their conditions and personalities properly. Right now I have 2 people working with me on my start-up, I found these people after 2-3 months of searching. I happened to start working with them because the workload on me was very high. Now, I realized that these people are not the kind of people I'm looking for, I don't want to start my startup with them. We haven't talked about who gets how much equity as such, but I'm thinking that they will expect some amount. Can someone advise me on how to break-it to them about me not wanting to give them equity? Also, both of them are not able to work with my pace. And I end up learning to do their work too because I need the work to be done faster. One of them works for 6 days a day and can work only in the night for 2-3 hours, and the other is always lazing around and does his work slowly. P.S This is my first big post, Please tell me if I need to do any changes [link] [comments]  |
| Healthcare for team distributed across states? Posted: 07 Jul 2020 06:42 PM PDT I may be looking to provide medical insurance for about 30 employees across the US, what are my options? Do I just choose a state and find a plan that provides coverage when traveling or do I really need to get a plan in each state? Another idea, is if we 'reimburse' each employee to purchase their own plan, determining maximums for each employee. Figured many start-ups are hiring remotely, would love to hear what solutions you've found! [link] [comments]  |
| Questions about registering a small tech business Posted: 07 Jul 2020 08:48 PM PDT I have an idea and I'm hiring someone on Fiverr to develop an app for it. Thus I'd love to learn from your insights:
Please help, I really appreciate your input! [link] [comments]  |
| Posted: 07 Jul 2020 06:41 PM PDT I posted this on entrepreneur channel and was suggested to post it here! Hi all, I want to build a skincare brand with an approach that's really different from existing brands. I've seen people who work at VC commenting on the posts here, so wanted to hear your perspective. Tech start-ups are "hot" investments now and skincare industry is getting ridiculously saturated, but the pie is getting bigger every year. I also see Glossier claiming itself as a tech company to get more vc money. Yes, I know it's hard to get investments for any company, but given the saturated market, what do you think is the possibility to get the investments for a skincare brand from an investor's perspective? I am developing products with money out of my pocket, but definitely will need investments to scale up. What do you think the best approach is for a skincare/cosmetics company in terms of scaling up the business? Thanks! [link] [comments]  |
| Posted: 07 Jul 2020 12:43 PM PDT My team is working on an online marketplace. Marketplace deals with buying selling physical products such as food items etc, no digital product. We tried to buy .com of our business name but the seller asks for $100k. .net, .org are all taken as well. So we are in pretty tough situation for deciding our domain name. .io is taken as well but seller agrees to sell for less than $1k. But we're not sure if .io will be perceived well among our customers. Does anyone else have any experience with .io domains or used it for their non digital products startup? [link] [comments]  |
| Looking for help starting an outsourced sales team Posted: 07 Jul 2020 06:27 PM PDT Does anyone have any resources around creating a sustainable sales team? The goal would be to set up a team that could sell small business digital marketing/websites to specific industry niches (trades, real estate, retirement homes, doctors, auto repair shops, etc) I would like to give them cold call lists with specific material & examples to discuss. Any guidance or learnings would be much appreciated? Any ROI numbers on this subject? Thanks in advance! [link] [comments]  |
| Raising money for my startup and have some questions about which platforms to use. Posted: 07 Jul 2020 02:11 PM PDT I am heading a startup that is creating a new food delivery application that will run on a different model to the current market competitors, and we are currently entering the phase where we will be pursuing investors and venture capitalists. I had a friend of mine recommend the website askforfunding.com, but I and my partner had never even heard of this site before today. I was wondering if anyone here has had any experience with the site, and if so, what is your opinion and or review of it. To add to this, if anyone has any other suggestions for some websites to access such resources, we would greatly appreciate it! Thank you in advance! [link] [comments]  |
| How much equity should you request for putting in sweat equity in a unfunded start up ? Posted: 07 Jul 2020 07:13 AM PDT A very early stage pre product market fit b2c start up is asking me to join them to basically put in sweat equity and work outside of the day job to grow the company. While I'm ok with that because I'd like to keep my day job, they are saying most people on the team are working full time hours despite being "part time". They have no one doing it full time yet. In events like that, what is the appropriate amount of equity a head of marketing should ask for? So far they offered 1-2%, but I thought that's just standard for full time roles offered to early employees plus a salary. [link] [comments]  |
| Posted: 07 Jul 2020 03:46 PM PDT I am looking for a marketing tool to provide sms, email campaigns, potentially in app push notifications. Any suggestions on an affordable b2c platform that provides this? Iterable,mailchimp, hubspot,braze are all great but most likely out of our price range. [link] [comments]  |
| Stuck finding a business bank (UK) Posted: 07 Jul 2020 11:43 AM PDT I'm having real issues starting up a new e-commerce business. I have registered a limited company, email domain, Amazon seller account, Shopify account and I now need to open a business bank before I start trading, and also to verify my Amazon Seller account. However I have been turned down by 4 banks now, (Monzo, Barclays, Tide and Natwest) without a reason as to why, just that they can't. I'm currently trying again with Starling Bank but they're asking for either proof of sales, licenses, proof of spending or a letter from an accountant. I don't fancy signing up at £80+ a month for an online accountant just to write me a letter for them (I wouldn't mind doing this but I don't know when I'm going to start trading yet as I'm juggling this with my full time job) and I don't have any of the other things because I haven't been able to open a bank account to begin trading. What do people suggest? I was really excited to start a business but I've had nothing but headaches and disappointments so far. [link] [comments]  |
| Posted: 07 Jul 2020 03:25 PM PDT A good friend of mine has come to me with a business idea. He has already established a business plan, scoped out a lot of the details, and it is his original idea. He needs someone who can do the development and take care of all technology needs. I agreed to do all the dev work and basically be CTO, of a 2 person partnership. Instead of getting paid for the work, we've agreed that I would get a percentage of the company. This is where I get stuck. I have no idea what a fair percentage is. I've worked at one startup where I got 6% to come in as the 6th team member, with less responsibilities. I worked at another where I only got 3%, but also had significantly less responsibilities. I don't want to cut myself short, but I want to be fair. Any idea of what % I should ask for? He wants me to come up with the percentage. Thanks in advance for any advice! [link] [comments]  |
| Hearing "we're getting funding soon" for over a year - but no clear evidence of those efforts Posted: 07 Jul 2020 02:07 PM PDT So, question first, then background: Should I stick around for the chance of equity post-funding when I've been hearing "we're getting funding soon" for well over a year, or move on to more short-term rewarding opportunities (+salary +bonuses +stock options). I work for a startup that's doing decent as far as revenue and growth / user adoption go and considering the state of the world currently, but we've been hearing for well over a year now that "we'll be getting funding" without any clear evidence of that occurring. Early on the company was very transparent about what we were doing in those regards, and while they've stayed fairly clear on our finances and runway, they've been pretty murky on funding details. I assume there are some things going on in the background that we aren't being kept informed on. Our company does work closely with some very large companies that could potentially acquire us even at this juncture I would imagine - but I'm not sure how that would be profitable to anyone. I've been around for almost 2 years, right at the start - so I guess I'm trying to analyze and validate my thoughts around the risk of leaving for more short-term lucrative opportunities at this point (salary + bonus). I mean, does it even make sense to hold out hopes for decent equity and maybe raises/bonuses - career advancement at this point? Maybe I'm just being unrealistic in my own timeline expectations and paranoid in regards to "what if" scenarios. I have been burnt before. [link] [comments]  |
| Do I need a team or help to launch a MVP? Posted: 07 Jul 2020 09:47 AM PDT Hello, I am developing on my own an fitness app with a different approach to the existing ones. Currently, I'm struggling a lot because there are some decisions I need to make that I dont have experience with. I come to realise that maybe I need a team but now I need to take care a lot of my budget, so I don't know what to do. It exists some guide or something that can help me doing my app step my step? [link] [comments]  |
| How expensive is making a smartphone nowadays, really? Posted: 07 Jul 2020 01:09 PM PDT It's just a curious question of mine. Maybe someone here could answer it. Would 2 million cut it? Nowadays there's a lot of OEMs out there who have a set design internally. How much would designing and developing the out enclosure, with modifications to internal layout whilst keeping the architecture the same, etc cost? There are plenty of manufacturers on Alibaba, has anyone reached out to them and talked about this? [link] [comments]  |
| Brainstorming with a potential co-founder Posted: 07 Jul 2020 01:03 PM PDT Hey. I came across this startup advice, that a good way to test your potential co-founders is to schedule brainstorming sessions with them. Sounds interesting. Has anyone done it? If yes, I would love to hear more about how you do it, what works, what doesn't etc. Thanks. [link] [comments]  |
| Cofounder is no longer pulling his weight and is passive with his role? Posted: 07 Jul 2020 01:00 PM PDT Here is my issue: my cofounder and I both have fulltime jobs and have incorporated a c-corp with equal equity at the beginning, and we both are technical and have worked on the codebase equally. Recently I've pivoted more towards fundraising and marketing and he stays with coding. But it seems to me more and more that he is not pulling his weight... small features have been delayed that have postponed our quick launch time and again. Sometimes I've the impression he is treating this as a casual coding exercise instead of a business. Basically he became someone I need to push everyday to work. While I understand he has a young family to raise and has to keep the fulltime job, I don't want to see the company sink either. What would you suggest I do? Am I asking for too much? What's the ugliest scenario this could get into? Any comment/advice is appreciated! [link] [comments]  |
| Managing technical debt in a tech startup Posted: 07 Jul 2020 08:05 AM PDT Hi, I'm a tech cofounder in a B2B SaaS, we've been building it for almost a year and I have a feeling that technical debt is increasing more than I would like, from what I've read it's normal to have technical debt in a startup because it's a byproduct of developing at the speeds that we need to. Right now I have a nagging feeling that I should invest some time in squashing technical debt but that would mean delaying the planned feature releases, have any of you been in this position?, how have you tried handling it, and did it work? Would love to hear some opinions and experiences from veteran founders and how you've tackled technical debt, thanks! [link] [comments]  |
| How do I get more people to order? Posted: 07 Jul 2020 07:06 AM PDT I started a tshirt company over the quarantine for fun, and so far things have been great. People said they liked the designs and thanks to friends I was able to get the word around. However, once I announced order forms for my shirts were available, very few people seemed to actually order. How can I convince more people to order my shirts? [link] [comments]  |
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