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    Startups Fundraising Thursdays - A Forum to Ask About Fundraising, Investors, Accelerators, and Other Sources of Capital

    August 07, 2020

    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

    Posted: 06 Aug 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.

    submitted by /u/AutoModerator
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    Built an App...Now What?

    Posted: 06 Aug 2020 11:56 AM PDT

    Hey friends, I'm a developer who suffers from the crippling condition of constantly building complete products and then moving on to the next and letting the previous project die. I love the act of building things but really suck at doing anything with what I build. I want to avoid that situation this time.

    Over the past few months being quarantined, I developed a complete social app for Android/iOS and I'm at the point where I don't know what to do next. It's normally right around this time that I would ditch the app and work on the next thing, but I want to give this one a solid effort to grow in to something bigger.

    I'm not expecting to be the next facebook, and I understand how hard it is to get people to download an app. I do not have unrealistic expectations, I'm just not sure where to go from here.

    To put it in a more open question format here's what I'm asking...

    ​

    If you were given a feature complete social app, what would you do to turn it into an actual product/business?

    ​

    I appreciate any tips or advice. Thanks!

    UPDATE: I've gotten a ton of replies and dms with this post. Thank you to everyone who has given advice or reached out to me. I'm signing off for the night but look forward to responding to everyone in the morning!

    ​

    submitted by /u/macaroni_boy
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    Today my MVP is done!

    Posted: 07 Aug 2020 12:41 AM PDT

    Some of you may have seen my previous posts about whether to continue with TakenPlace.com or just shut it down but i continued tinkering in the background.

    Recent global events skuppered my plans for a summer pilot in a nearby city but I decided to continue with the final feature introduction to complete the entire MVP journey - payments!

    until today the final purhcase was handled manually but i had a lot of feedback that this was a big blocker, so i found a local freelancer and got Stripe integration launched today.

    Despite the global pandemic effectively putting my marketing plans on hold I'm using the time to add a couple more small features and will be doing further market research so that I can be ready when social scenes pick up again. It may be a small milestone overall but i'm very excited that my MVP is finally 100% complete, and had to share it with someone.

    submitted by /u/bradbcam
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    For those who are considering software outsourcing: everything that can go wrong

    Posted: 07 Aug 2020 12:38 AM PDT

    Over time I've been reading this thread, I noticed that people have a lot of doubts. I wrote an entire posts about all possible risks. Even though I work in the software outsourcing company, it's obvious to me more than to anybody else, how bad can outsourcing deals be. So, I decided to share thoughts from the other side, from developers' point of view https://syndicode.com/blog/all-you-need-to-know-about-software-outsourcing-risks/

    submitted by /u/veravash
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    It’s impossible to motivate every single employee on the market. Instead, we need to focus on recruiting the right people for our organizations. We need to know who they are - and then get them on board.

    Posted: 06 Aug 2020 07:21 AM PDT

    TL;DR : One of the most common problems in IT companies is the low motivation of employees to do their best at work. Here's how we verify candidates at Ragnarson - the company I founded.

    In April 2018, my business partners at Ragnarson and I joined a local group of IT entrepreneurs in Lodz, Poland. We usually meet once a month and discuss topics that are relevant to our interests. It's a place to learn from each other and share our struggles.

    One of the most common problems that keep popping up is the low motivation of employees to do their best at work. They're often not engaged enough or lack a proactive attitude. Instead of bringing out the best in them, the company seems to drag them down.

    We've been through this at Ragnarson.

    We kept improving our environment to tackle those problems. This means that we experimented with our company culture, vision and mission, projects, organizational structure, and many other elements.

    Ultimately, we learned that no matter how 'good' your environment is, it's only one part of the equation.

    The other part is about the kind of people you bring to the table.

    Every environment is attractive only to a specific group of people. If you hire 'everyone' without considering how they fit into what you offer, the chances are high that 'everyone' will end up disappointed and unmotivated.

    The question is not how to motivate every single employee on the market. That's just impossible. Instead, we need to focus on recruiting the right people for our organizations. We need to know who they are - and then get them on board.

    If you have ever:

    • Hired someone who left after a few months because 'the company was not what they expected',
    • Dealt with an unmotivated employee who struggled with their responsibilities and delivered little value,
    • Hired a person who didn't get along well with the rest of the team,

    then let me introduce you to our secret sauce that helps to handle this problem.

    In what follows, we share an overview of our recruitment framework. It has been tremendously helpful for minimizing such problems and brought us a lot of other benefits.

    Note that we've been tweaking the process for years and adding new features that help to attract desirable candidates, give them more value, and filter out the undesirable ones. Moreover, we constantly adapt it to changing market conditions.

    Our interview process

    Our recruitment process consists of three steps.

    1. The first interview with our HR team,
    2. Technical interview,
    3. Cultural fit and soft skills check.

    The importance lies in what's being checked and how. This order works for us, but it doesn't mean that it will also work for you. Moreover, the entire process is done remotely. Let me walk you through it with more detail.

    First interview

    Most companies are adept at the initial interview with candidates. It's chiefly about getting to know each other, talking about basic expectations, checking their language skills, and getting a general impression of the candidate.

    Some companies engage the final decision-makers at this point. They speak with a candidate for an hour, and if they like what they hear, they make a hire. In my opinion, this is where the greatest danger lies. All you can do in an hour is to get a vague idea about someone. That's why we do more than that.

    The main question marks we want to address at this stage are:

    • Do the communications skills and maturity of the candidate correspond with our requirements?
      As a self-managed company, our expectations need to be at the top end of the spectrum. For example, most of our employees communicate directly with clients. They are responsible for making decisions which in traditional environments are handled by more experienced managers.
    • Can we provide the candidate with what they're looking for (and vice versa)?
      In our case, the responsibilities of developers are broad. They not only code but also manage the relationship with our clients. This means they engage in tasks like collecting feedback, organizing in-person meetings, learning about the business of our clients, and handling issues if any arise. A person looking for a calm environment where their concerns are limited to the technical challenges of the project wouldn't be a good fit for us.
    • Does the candidate speak English fluently?
      Practically all developers write code in English and need to understand this language to be able to learn new things. In terms of speaking English, not all companies on the market require that. This creates a pool of specialists whose speaking skills don't allow for smooth business communication.
    • Do our mutual expectations meet (like salary level, flexible working hours, or remote work)?
      Flexible working hours and remote work provide a lot of freedom to employees who can work from any place and at any time, assuming that their team and clients get enough time overlap. But not everyone wants that. People who need a bit more structure in their lives and/or prefer working from an office aren't going to appreciate the option (or necessity) of remote work as much.

    If we don't see any major red flags at this point, we move forward with the process.

    From the candidate perspective, they get a basic overview of our offer and recruitment process. It gives them the first glimpse of our culture to decide whether this is what they are looking for. Nobody proposes marriage on the first date, and the same logic applies here. Both sides need time to figure out if they fit well together.

    Technical interview

    Once we have an overview of the candidate, it's time to make sure that they possess the relevant skills for the job. Depending on the type of individual we are looking for, we ask them to perform different tasks.

    Most of the time, we hire software developers. In this case, there are two steps to complete:

    1. A programming challenge carried out offline at their convenience
      This is the first technical step that gives us an overview of how the candidate thinks and what kind of quality they deliver. It's not enough for us to reject the candidate at this stage. In practice, some candidates give up without completing the challenge for various reasons. It saves time for us both.
    2. A call with one of our senior developers consisting of:
    • A discussion about the solution of the programming challenge prepared by the candidate (around 30 minutes)
      This step is crucial in understanding how the candidate approached the challenge and why they solved it in this particular way. It tells us a lot about their perspective and how broadly they look at problem-solving.
    • Theoretical questions (30-60 minutes)
      Contrary to how it sounds, this step doesn't aim to bore the candidate. The goal is to uncover whether they have a deeper understanding of the technologies they use. It's crucial, especially if someone aspires to a technical leadership role. In the case of less experienced candidates, it tells us a lot about their potential.
    • Live coding (around 60 minutes)
      Theoretical knowledge is nice but not very useful if the candidate struggles to apply it. At this step, we see their problem-solving capabilities in real time. The task also simulates everyday challenges they are bound to encounter at work. Both sides get a chance to see how the collaboration may look like once we decide to work together.
    • Q&A and next steps
      At the end of the process, we summarize it - we describe our expectations regarding each step, provide candidates with feedback, and answer their questions.

    During the technical interview, two good things usually happen for candidates.

    First, they get a chance to get to know us better, understand what technologies we use, and what maturity level we represent. This allows them to imagine their future working environment in more detail.

    Second, they get a professional evaluation of their skills in relation to market expectations. This is invaluable for understanding how they're doing in comparison to other professionals in their fields. Moreover, when the live coding session is over, many candidates who did well are very satisfied. It boosts their confidence and makes the process valuable, even if, for some reason, we end up rejecting their application.

    Cultural fit and soft skills

    After the first two steps of the interview process, we have a brief understanding of the candidate's experience. We know that their hard skills are on the required level. We still need to dive deeper into soft skills, previous responsibilities, expectations, and cultural fit. It helps us to find potential blind spots.

    At the last step, our process engages around 6 employees. Each of them has a 30-minute call with a candidate. Involving so many people sounds expensive and time-consuming, but so is making a bad hire. The more team members participate in the process (up to a certain level), the more comprehensive the candidate image we are able to build. It minimizes the number of bad hiring decisions and allows the team to pick their new workmates.

    In our experience, companies rarely make this kind of effort. That's why our approach not only gives a chance to gather more information about the candidate but also helps us stand out from the crowd. On the other hand, for candidates, it offers a great opportunity to get to know the team and the company.

    It's crucial to have a structure for each conversation. We don't want to just hang out with candidates but also spot potential problems. Here's what we especially look for during these calls.

    Soft skills and expectations

    From the candidate's perspective, it's essential to understand how we differ from the competitors. This is also something that we mention during the first interview, but it requires constant reminders. Now is the time to give them a proper introduction and lay out the concept in more detail.

    Oftentimes we experience 'aha' moments when the candidate realizes what our environment really looks like. I always tell the story of how we help T-shaped individuals [1] to flourish. One of the best examples involves our self-set salary process. By the time I have a chance to speak with the candidate, they usually have a vague idea about how it works. They often don't realize that they will be ultimately responsible for their own salary, and no one, not even me, can influence it.

    But back to what matters now: understanding the value proposition makes all the difference in the long run.

    We want to avoid a situation where someone leaves after 3 to 6 months because the job is not what they expected to be.

    From the company perspective, we need to make sure that the candidate is really able to handle the job.

    An example of that would be asking about the experience of working with external clients. All of our projects require such interactions. If we see potential red flags here, we note them down and discuss them with the rest of the interviewers later on.

    Another good example is when interviewing someone who is or was a team leader. Our expectation is that such people should be able to solve problems within the team, pick new team members, and, of course, handle interactions with the client. Oftentimes, the experience of candidates is limited to interacting with clients to some degree or simply being the most experienced member in a team.

    Culture fit

    Culture fit is my favorite part. We look at our core values for guidance. We also have a scorecard with sample questions to make sure that every "recruiter" is on the same page during the last stage of our recruitment process.

    For example, one of our core values is growth. Obviously, every candidate claims that they are looking for it.

    Perhaps that's even true in most cases. The difference is how we define growth. How often are people expected to leave their comfort zone? What kind of skills should they be developing?

    We ask many indirect questions to understand how we both see it.

    Another important aspect is how the candidate fits into the team in general. Since we're a self-managed company, there are many responsibilities covered by people who wouldn't necessarily be involved in them at other organizations. We try to understand whether the candidate is interested and willing to engage with various aspects of the company.

    There are many people who have a narrow specialization and would rather have only responsibilities related to it directly.

    There's nothing wrong with that. It just means that such candidates are not always a good fit for us.

    Finalizing the process

    Once we have all pieces of the puzzle in place, it's time to summarize what we know and accept or reject the candidate.

    All interviewers participate in a 30- to 60-minute call.

    We voice our impressions one by one and vote for or against the hire. This is not a democratic process. We always select one person who bears the burden of the decision. This person is responsible for managing the probation period and firing the candidate if something goes wrong.

    Usually, the best person for the job is the team leader of the project who is going to be working with the candidate once they are hired. Usually, it's one of the developers or our project manager. Such leaders emerge naturally and are expected to encourage their team in decision making. In the case of adding a new team member, the entire team provides feedback during the probation period and decides whether the new person stays at the company. If for some reason, things go wrong and the new hire needs to be fired, it's the leader who pulls the trigger.

    If the hiring decision is positive, we always make referral calls. For some obscure reason, I noticed that companies often omit this step.

    I remember situations in which we learned that the candidate was responsible for a project that failed or had been fired. It gave us a chance to confront these findings with them and openly discuss their lessons learned to avoid such cases in the future.

    If for some reason, the candidate is rejected, we provide them with extensive feedback. This is another way of improving the process and making the experience more valuable to them.

    Best practices

    Let's summarize the most important aspects of the process. It should give you a better indication of how to design yours.

    1. Make your recruitment process two-sided. Candidates need to 'recruit' you as well. Otherwise, you risk losing them after a few months of working when they realize that your company is not what they were looking for.
    2. Don't sugarcoat your environment. There is always something that doesn't work great, and I strongly suggest you be open about it. If it discourages the candidate, you might be saving both of you a lot of time and nerves.
    3. Engage your team. It brings so many benefits to the process that it's even hard to mention them all. The most important thing for the candidate is getting to know their future teammates beforehand. They can ask questions about the company first-hand and get honest feedback. And you can get a much broader and comprehensive picture of the candidate.
    4. I believe that just like in sales, the best recruiters act as advisors to the candidate. They're not someone looking to close a deal at all costs. We often challenge the decisions and preferences of candidates. We want to know how well-thought those choices are and whether our offer makes sense for them in the foreseeable future.
    5. Provide candidates with feedback. It's extremely valuable to them as it provides a reference point for future improvements. If the candidate was rejected, it also helps you to keep the door open and encourages them to get back to you once they meet your requirements.

    Conclusion

    Building thriving working environments is not only about their design and features. An important part of it is the people you invite to the table. Candidates have diverse preferences and because of that require different environments.

    To minimize the chance of hiring someone who isn't a good fit for your company, establish a process that makes the selection more accurate.

    One of the biggest pitfalls I've seen is having a hiring process that is too one-sided. Companies check whether the candidate is good for them but not the other way around. They have little knowledge about candidates and hope that it all works itself out.

    If there was only one thing I could ask a candidate, it would be about what drives them.

    If what your organization offers doesn't match their interests, don't expect them to be motivated or engaged.

    Managing expectations is the key.

    Notes

    [1] More about t-shaped individuals can be found in T-shaped Professionals, T-shaped Skills, Hybrid Managers by David Ing.

    submitted by /u/mgalkiewicz
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    Getting pre-orders before product is made?

    Posted: 06 Aug 2020 09:19 PM PDT

    Do you guys have any advice/tips on how to get pre-orders before the product is actually made?

    My startup is developing an app and we need to show more customer interest through pre-orders. Since it's we have a subscription-based model atm, should we make it where people pay like $1-5 to get the app for free for a year or smtg or first 100 people who sign-up for the mailing list get a discount on the app? What are some smart incentives to use?

    submitted by /u/spitecranberry
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    Thoughts on lawyer as co-founder

    Posted: 06 Aug 2020 05:21 PM PDT

    I'm mid-way in development of a small biotech SaaS business, primarily dealing with application development. I know the basics of starting a small business and the infrastructure I will need, but very little at this point surrounding copyright/ip/data laws -- which will absolutely be a legal expense in the future.

    I'm close with an individual who went to school for accounting, got an MBA, then JD, and now works full-time practicing business law. They've expressed interest in what I'm doing and now I'm considering bringing them into my solo operation as a co-founder.

    To me it seems like an incredible partner to start, just because of the broad, applicable skill-set for getting my startup of the ground -- and obviously way outside my wheelhouse. But from all of your experiences, would a cut of equity in the startup be more costly than just eating the cumulative legal and accounting expenses over time?

    I know this comes off as a greed/power kind of question, but I have no experience on the matter so take it at face value.

    submitted by /u/mf_lume
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    Advice on scaling?

    Posted: 06 Aug 2020 10:48 AM PDT

    I'm getting there!

    So, when everything shut down with COVID-19 I was working as a bartender at a little hole in the wall bar with absolutely no money put aside for anything. It was my only source of income and there wasn't much of it at the time. Things shut down and I lost all of that. I had just enough money for one extra month of bills and made it through that quickly.

    I did, however, have my personal training certificate and decided to try and make a bit of money moving into an online space with training and maybe offer a class as well. I gained a couple of clients, nothing crazy, but then I started this class.

    The class is just a basic body weight class that I deliver daily via private YouTube link to the students. I started in May with minimal advertising, mostly word of mouth and some Instagram posts. My first month I had 13 students at $30, which I thought was great! It was enough to start helping with bills.

    This month I signed up 45 people for my class and I couldn't be happier about it! Most of my new students have come as referrals from students taking the class, have found me on Instagram, or have seen me post in a few Facebook groups. I currently have about a 90% return rate for my students!

    I decided that I need to raise my price now that I am starting to see some real traction, am gaining a bit of name recognition, and have student results to showcase, so I'm raising it to $49 a month. This comes out to about $2.50 per class, which I feel is definitely a reasonable price for what they are receiving.

    I'm trying to figure out how to best scale the class up now. Because it's a virtual class that I'm delivering via email, I have no cap on the number of students I can have in it. I've played with the idea of running it as a membership site like a gym, but I'm not sure how to set that up and don't have the capital to pay someone to. And I've looked at hiring affiliates at a commissioned rate, but I'm not sure where to find them.

    If anyone has advice on how to properly scale this, I would really appreciate it. Thanks!

    submitted by /u/roybelzer
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    Software code legal protection

    Posted: 06 Aug 2020 11:04 PM PDT

    So I build a small email system that will be delivered as an appliance - both as a docker container, VMware OVA and Azure/AWS marketplace appliance. Its a combination of linux based leading technologies and web based admin panel. All with a single purpose of having a 1 click (ok maybe 5 and basic details :)) self hosted email server.

    Now the catch is that as you know neither containers, nor PHP nor Python are compilable nor offer source code protection. After number of conversations both here and offline the general conclusion was "those stealing will steal, those paying will hate you for closin your solution, you need a lawyer not a technology".

    Thats a long intro to a relatively simple question - how do I get around the above? Or rephrasing - which document / framework / solution do I need to prevent (or at least make it more difficult and give me means to defend my rights) some random company from taking my code putting it into their product and argue they did it?

    submitted by /u/stormdxb
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    Online payment solutions for offshore company in the US?

    Posted: 06 Aug 2020 02:41 PM PDT

    I am in the initial stages of a startup based around Text to Speech systems, and plan to do business in both my native India, and in the US, where I did my Graduate studies. What would be the best solution for accepting payment from customers in the US? From my experience in the US, paying for services offshore, can sometimes be bad because credit cards often see offshore activity as suspect and decline the transaction. Would opening a company bank account in the US be a good option? Would registering the company in another country(such as Estonia) help in this case?

    submitted by /u/ifcarscouldspeak
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    Are there any detailed resources/techniques on how to acquire your first customers and how to accurately estimate CAC for a B2B healthcare startup?

    Posted: 06 Aug 2020 04:39 PM PDT

    Hello everybody! I'm working on a go-to-market strategy for a healthcare startup and having some trouble accurately estimating CAC due to the complexity of the reimbursement system. I'm also looking for some guidance on how to convey our approach acquiring our first customers (I.e. hospitals and clinics). Any guidance, suggestions and resources are much appreciated.

    submitted by /u/RandD10
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    Looking for consumer/media groups that promote buying local and small business.

    Posted: 06 Aug 2020 03:57 PM PDT

    Hey all! I'm about to launch my shopping assistant that allows users to browse and buy from the small businesses in their communities. I'm looking to get it in front of any media or consumer groups that are huge evangelists of buying local and small businesses. This is only in the U.S. for now. Has anyone had any good experiences with any groups in promoting community commerce, etc.?

    submitted by /u/DCEagles911
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    Apps | Android , iOS , and website technology suggestions

    Posted: 06 Aug 2020 02:26 PM PDT

    Hello All,

    Context:

    - I want to make a basic website and accompanying app where - Based on persons location or selected location , i show them posts posted by people around their area.

    Request:

    - What technology platforms should i be choosing to make the app / site?

    - I want to use something where i write code once and it works for website and both iOS and Android app. (if such a thing is even possible)

    ​

    Thank you.

    submitted by /u/lance_klusener
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    What is the best way to use your previous work experience as social proof for your startup?

    Posted: 06 Aug 2020 02:03 PM PDT

    So for example if I previously worked at a software agency and worked on projects for Microsoft, Google, & Snapchat. Now I'm starting my own agency. Can I put on my new companies website that previous work includes Microsoft, Google, & Snapchat?

    Is that too shady?

    I wouldn't try to pass off the actual projects the new company built. I just want to show that "people that work for this company have worked on big projects (or for big companies) such as these"

    Any one have any experience with this, or any ideas?

    submitted by /u/mxchickmagnet86
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    I want to invest in video games and/or finance a development studio but don’t know how to do it

    Posted: 06 Aug 2020 09:36 AM PDT

    Hi guys, I am a young men living in Europe with a stable job which allows me to save money every month. I regularly invest my money on the stock market or on crypto's.

    Recently I have been thinking about investing in video games. This is a big passion I have and I would love to be working/investing in the gaming industry. I was thinking about funding independent games or launching a gaming development studio but I really don't have a clue how that would work.

    Appreciate your help !

    submitted by /u/Therealtipo
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    How to differentiate from competition?

    Posted: 06 Aug 2020 08:51 AM PDT

    I have my supplement line dropping in 4-6weeks and on my own instagram I see a lot of Ads for similar products. Part of it is that I'm biased but the ads all seem the same. In general given that I have the ad targeted to the right audience how would you make a clickable ad? Ads that say "let me see what this is about"

    submitted by /u/YoungLion_
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    How do I find construction companies in the US to offer them my solution?

    Posted: 06 Aug 2020 11:55 AM PDT

    My startup offer solutions for the contruction industry, and I would like to find/talk to customers - In this case construction companies, construction managers or civil engineers. I'm in Austin TX right now, but customers in Florida would also work since my startup is already established there. Any ideas?

    P.S.- I'm not a US citizen, I'm from latin America if that may help.

    submitted by /u/jigote
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    Cross-platform app startups: are we forced to use Apple hardware?

    Posted: 06 Aug 2020 11:36 AM PDT

    I've published an iOS/Android app called "Sidewalk - Proximity Chat". Basically similar to YikYak but I want to make it a healthier, safe app.

    I wrote this using Dart + Flutter so it runs on iOS and Android. My development setup was a Dell XPS 13, VSCode, and Android Studio. But, without Apple hardware you can only publish on Android. So I borrowed my wife's iMac only for the publishing part.

    Yesterday, I crossed the 400 registered-users mark and want to push this app further. I've created a close community with my users which I think will help improve the app. Eventually, I want to work on this full-time.

    My question, though, is if I intend to continue working on this app would it make sense to jump into the Apple ecosystem of hardware and invest in a new MacBook Pro and iPhone? Do most cross-platform developers (in the early stages) use multiple devices to test? It's frustrating that you basically need to have Apple hardware to release an app to their App Store while it costs 2x more for the same performance as a Dell/HP/Lenovo/Microsoft computer.

    submitted by /u/livical
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    Looking for some creative advice/ ideas to grow online presence for a business model where users need to use our software once/ twice in their lifetime.

    Posted: 06 Aug 2020 05:30 AM PDT

    Our startup connects driving learners with their ideal driving instructors. We help learners to find, compare and book instructors online while assisting the instructors in managing their schedule and payments. ( Launching this month)

    Since a person only needs his/her licence once and since the majority of driving instructors are busy and not super active on social media for their business part, what steps can we take to increase online presence of our startup. We have tried posting posts on road rules, news related to licences on our social media handles, but nothing seems to work. Your creative ideas are most welcome. Thank you in advance

    submitted by /u/vvh0cares
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    What would you do?

    Posted: 06 Aug 2020 11:06 AM PDT

    Hi everyone,

    Keeping things vague for anonymity.

    I've been at a startup for over 1 year now and interviewed internally for a cross-department promotion a few months ago. I got the thumbs up from leadership and was told that I would be promoted, however, there was going to be a 6 week delay to mid-July.

    Come mid-July, I'm told there would be another delay to mid-August. Now, I just got asked to stay in my current position until the middle of Q4, however, they would make it worth my while. They also stated, that this is for the company's best interest.

    Does anyone have experience with startups doing this? In this situation, would you begin to look at other job opportunities or stick it out?

    Thanks in advance!

    submitted by /u/Cgoody
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    Calculating co-founder remuneration package

    Posted: 06 Aug 2020 09:46 AM PDT

    An investor has approached me with a view to setting up a business which she wants me to manage. She is open to suggestions on structure of remuneration on the basis of 3 things: - basic salary - performance related bonus - equity

    The sliding scale we discussed is that I could on one side, get paid £100k salary with no bonus or equity, and on the other side, earn nothing and own 100% of the venture (with some other mechanisms of her making money just by this business existing).

    My thinking is therefore that for every £10k I am willing not to earn in terms of base salary here, I should be able to take 10% more equity.

    We are some way off putting a budget together and getting into anything like a valuation, but on the basis of the above I would like to know if my thinking appears to be sound?

    submitted by /u/PNC3333
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    What is your tech stack? Ruby on Rails?

    Posted: 06 Aug 2020 05:32 AM PDT

    Looking for a general stack I can use for side projects

    I'm guessing RoR or ReactJS are going to be the ones people say most (is there a way to combine them)

    ​

    Pros of RoR

    - super fast

    Cons
    - not too scalable (although this is only a concern for when you have many many many users)

    ​

    Pros of ReactJS

    - Widely used, big company, actively developed by Facebook

    - Makes it easier to build a react native app as well

    ​

    submitted by /u/AlwaysPersistent
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