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
- Chicken or the egg problem - Dual user sign up challenge
- Want to start a credit card startup, how do I go about partnering with a bank? Are there popular APIs I can tinker with? Any advice appreciated.
- How do you drive traffic to your website without spamming?
- Should I find a co-founder?
- Youtube storage strategy/management
- What is a good visit-to-email subscribe ratio for a startup blog?
- David vs Goliath: Software Success Stories
- So I made a prototype in XD. What now?
- Just how GOOD should your V.1 be?
- “Only essential people”
- The easiest way to research your ICP
- Post Incorporation Stock Help!
- What are other Basecamp alternatives?
- Planning Software for Outsourcing
- Is it better to start a web design business dedicated to a niche or have service pages targeting different niches?
- Working at lowes to get health insurance.
- When is it a good time to hire a legal advisor for my startup?
- Lesson : Empathy vs Capitalism (Start up rant)
- How do you plan to scale past startup when considering VAT?
- What stops someone from terminating an employee/cofounder just before the end of a vesting cliff? Is there something legally that stops that? Also in general can you simply end a vesting schedule if the employee/cofounder is not performing well?
| Posted: 13 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. [link] [comments]  |
| Chicken or the egg problem - Dual user sign up challenge Posted: 13 Aug 2020 09:00 AM PDT When you have a product that requires two users, how have you gone about acquiring them both? Have you tried gaining one then the other, or trying to gain both simultaneously? What has worked and what has failed? Do you know of any other startups that have been able to do this well? [link] [comments]  |
| Posted: 13 Aug 2020 07:18 AM PDT I work in finance and studied CS in college. I want to start a credit card company like Brex (but for something different). It seems I will inevitably have to partner with a small bank partner to start... but where do I go from there? I tried doing research online and there are no great resources I could find. Thank you. [link] [comments]  |
| How do you drive traffic to your website without spamming? Posted: 13 Aug 2020 03:42 PM PDT Hi everyone! I'm in need of advice. I'm a founder trying to validate my startup idea but one of the main issues I'm facing at the moment is getting traffic to site without having to SPAM. I'll be honest, I've spammed a few subreddits and have gained small traffic and a small number of sign ups but it's not a scalable solution. My goal is to get 2,000+ signed before I startup dedicating more time to this idea. Paid ads are out the question considering the budget. I'm well aware you're meant to go to where your users are and most of my users are non-technical founders that you'll find in subreddits like this and indie hacker, product hunt, etc. Maybe I'm missing something? I need some guidance Whenever I've an idea, I tend to create a landing page for the idea and spread the word through subreddits, slack channels etc, Am I doing it wrong? Your thoughts are appreciated [link] [comments]  |
| Posted: 14 Aug 2020 01:22 AM PDT I am currently learning web development, I know that in order for me to build a SAAS I must learn how to code. I always get a feeling that someone may steal my idea, and really dominate the market for my SAAS idea. I have a long way to go in terms of learning web development. My question to you is, should I find a co-founder to really help speed the process? Someone who knows how to program and run a business? Or should I be the only founder? [link] [comments]  |
| Youtube storage strategy/management Posted: 14 Aug 2020 01:21 AM PDT Hello, I was just wondering how youtube actually manage its storage capacity. Since every user can post videos 'freely' of about any size without necessarly being profitable enough to refund the storage cost to youtube. For example, i've seen many videos with duration over 100 hours, generally with little views (100-1000 views). These videos are not profitable but takes storage space that is not free (cloud fees / electricity / server maintenance / etc) Basically, how would that work if tomorrow for example there's thousands of people deciding to upload massive files on youtube ? What is their strategy to ensure to be profitable in this case ? In the startup case, there's no big names to generate massive traffic that would erase this misc cost. [link] [comments]  |
| What is a good visit-to-email subscribe ratio for a startup blog? Posted: 14 Aug 2020 01:13 AM PDT I know the right benchmark varies a lot based on industry, type of content and traffic source so I am giving more details below. I would love to know how other entrepreneurs fare on this. Type of content Long form original content on stuff like "How to make better decision making frameworks" and "Remote work 101 guide". It is mainly aimed at remote leaders and startup founders. Total traffic, bounce rate and time spent past 3 days Sources More context The conversion rate before this was 0.3% 😖So I added a signup form at menu bar, and also a pop up that comes if you spend 10 seconds on the page. I personally hate such popups so now I am wondering how you draw the line between business benefit and personal ethics. The popup is clearly working though, so its not as if my readers are hating it. [link] [comments]  |
| David vs Goliath: Software Success Stories Posted: 13 Aug 2020 06:32 PM PDT This post a little specific to things I've seen around the web - I'm a software engineer who loves the idea of one day working for myself. I swear at least once a day I feel like I have a little idea pop into my head, I go to research the idea, often find something already exists that is similar, think to myself I could launch my own version that would be different enough. Then I usually click 'Our Team'. or 'Careers' on that potential companies website, and see a team of 10+ people. I guess that would never be a complete dealbreaker, but in a field like software in particular it makes the challenge very daunting. Not only would you have to come up with something different, but you'd have to do it likely on the side (meanwhile your competitor chips away full time), and if you ever posed a real threat to them, unless you leave your job early on (where its likely you aren't profitable), your competitor might be able to just pivot and crush you. To me it almost feels like your best chance is doing something truly unique, which is easier said then done. I could also be wrong, many web browsers, virus scanners, planning apps exist.. but my guess is those markets are so big that they can support the choices. I guess that is really the downside of Software, its a winner takes all world (other than maybe writing Games, or designing individual websites/apps/consulting). Unless you have funding to work on the app full time, an army of part time works, it feels like its really difficult to overcome competitors. Does anyone else feel the same way? Is anyone aware of any examples that have ever overcome this type of obstacle? Sorry if this post comes off as pessimistic, I've just been very frustrated with this lately. [link] [comments]  |
| So I made a prototype in XD. What now? Posted: 13 Aug 2020 09:53 PM PDT Hi all, I'm glad I found this space. Amazing! As the title indicates, I have created a prototype in Adobe XD for an app idea of mine. However, I have no background in coding. What to do now? Do I get it developed by a third party to a functional level and get sales on the platform? Or do I fundraise from my prototype and build my team like through that? Do I apply to various competitions out there for funding? Thanks for the help! [link] [comments]  |
| Just how GOOD should your V.1 be? Posted: 13 Aug 2020 08:09 AM PDT I have a social app currently in open beta. We've gotten a ton of good feedback from users and are putting the "finishing touches" on the app. Since I spend all day with the app, I always see things that could be improved (I imagine that feeling never ends for most founders). However, it keeps me from feeling comfortable about the decision to launch. I hear conflicting stories, some founders say launch day is your one and only chance, others say you can launch a dozen times if you have to! What has your experience been launching an imperfect product? Have you found there's certain bugs or annoyances early adopters will accept, and others they won't abide? Thanks [link] [comments]  |
| Posted: 13 Aug 2020 04:35 PM PDT This is not specifically related to startups necessary, but this talks about the culture. I work at a corporation, and I am an entry level associate. Whenever we have a big meetings, we are not allowed to join the meeting (even though now it's all virtual - all it takes is literally me calling in and listening, unless they get weirdly bothered by seeing so many people in the participants list. This frustrates me because entry level associates are often the one who are working on and making the deck for the meetings. All I want is to join the meeting, listen, and learn. I wanted to give a benefit of doubt and tried to think about the benefit of this kind of exclusion, and couldn't come up with ANYTHING. Can you think of any benefits/pluses from this kind of culture? [link] [comments]  |
| The easiest way to research your ICP Posted: 13 Aug 2020 04:56 AM PDT ICP or Ideal Customer Profile is the first step to an effective marketing strategy. But many technical SaaS founders get stuck when it comes to the ICP research. Fortunately, there is an easy way to do it.
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| Post Incorporation Stock Help! Posted: 13 Aug 2020 03:28 PM PDT 9,000,000 For The Initial 2 Founders 1,000,000 Left Over For Employees/ Stock Options Joe gets 75% Ted gets 25% 6,750,000- Joe's stock in total 75% in shares 5,062,500 = Vested shares 1,687,500= Unvested Shares 2,250,000= Ted's stock in total 25% in shares 1,687,500= Vested shares 562,500= Unvested shares Does this look like a good way to split up stock options at the initial formation of a Delaware C Corp registered in California for a tech startup? We eventually want to take on investors if we are lucky enough to find one. The reason we decided to vest a lot of our shares up from because we are worried incase we do get funding we don't want to get bullied out of the company somehow. I am also confused on the topic of what to do with the 1,000,000 in leftover shares for employees/stock options. Do I need to purchase that 1,000,000 shares up front or do I just claim the 9,000,000 with my partner and leave that alone. What was your structure? Hope everyone is doing great :) Go easy on us btw this is our first time. LOGIC BEHIND THIS POST Everybody knows that standard protocol for dividing stock options is 8,000,000 for the founders and 2,000,000 left over for initial employees/stock options and a standard 1/4 vesting schedule, i.e., 25% at the end of a year, then 2% per month for founders stock. That is what everybody tends to do but I am a little bit more greedy than that so let me explain. I would prefer to split 9,000,000 between my partner and I and leave only 1,000,000 for employees and stock options. Now for the logic behind my post. Founder A is receiving 75% equity in the company so he getting 75% of 9,000,000 which is 6,750,000. As founder a is extremely greedy and impatient he wants 75% of his 6,750,000 shares immediately which is 5,062,500. HE RECEIVES THESE 5,062,500 immediately with NO 1/4 vesting schedule, i.e., 25% at the end of a year. This leaves him with 1,687,500 unvested shares that are subject to the 1/4 vesting schedule, i.e., 25% at the end of a year. So he has 5,062,500 immediately and 1,687,500 after the 1/4 vesting schedule over 4 years equally to about 421,875 a year. Founder B is receiving 25% equity in the company so he getting 25% of 9,000,000 which is 2,250,000. As founder B is extremely greedy and impatient he wants 25% of his 2,250,000 shares immediately which is 1,687,500. HE RECEIVES THESE 1,687,500 immediately with NO 1/4 vesting schedule, i.e., 25% at the end of a year. This leaves him with 562,500 unvested shares that are subject to the 1/4 vesting schedule, i.e., 25% at the end of a year. So he has 1,687,500 immediately and 562,500 after the 1/4 vesting schedule over 4 years equally to about 140,625 a year. My intent was to make sure that my founders have a lot of stock immediately. Also that my future investor will realize that we are not just going to stop working because we still have skin in the game with our unvested stocks. Basically this would leave 3,250,000 in unvested stocks/employees/options on the investor table. Founder A's unvested shares 1,687,500 + Founder B's 562,500 + the 1,000,000 in employee/stock options/ extra investor shares equally to the 3,250,000. Now in conclusion this would leave Founder A's 5,062,500 vested shares + Founder B's 1,687,500 vested shares equally to 6,750,000 shares dedicated up front stock they would receive IMMEDIATELY. Basically the founders would receive 6,750,000 from day 1. And would they would leave a decent chunk 3,250,000 stock on the table to pull from for investors/employees. The real question is will investors still want a bite. https://techcrunch.com/2015/06/28/10-things-that-can-derail-a-round-of-funding/#.vpdy0n:9weN Please see section 5 [link] [comments]  |
| What are other Basecamp alternatives? Posted: 13 Aug 2020 01:12 PM PDT Hi all, I have been using basecamp at work to communicate with clients for the past few years. It didn't develop much and cant meet our needs anymore. What are other good softwares where we can add the clients team? (we work with clients long term so for years). I know of proofhub but sadly it doesn't integrate with other tools that we have. Thanks in advance! [link] [comments]  |
| Planning Software for Outsourcing Posted: 13 Aug 2020 06:21 AM PDT Hey guys! Long time lurker, first time poster. I am a college student who is interested in understanding how to plan and architect softwares before handing them to an external company to build. My background is with data science and I know enough to build a basic MVP of my tools, but I still need external help to build out a customer ready product for launch. In the past, i worked with developers but my acceptance criteria and wireframes weren't clear enough for the nitty gritty aspects of the software and so I was wondering if anyone has any advice or resources on best practices for laying out a project/software clearly enough that it won't delay the devs work. Thank you!! [link] [comments]  |
| Posted: 13 Aug 2020 12:13 PM PDT I'm a web designer with 4 years experience working to get my business off the ground. I've seen a lot of people say always target a niche but I'd like to be open to building websites for all kinds of small businesses. Is it more effective to have a website dedicated to a specific field? What if I kept the site general but had pages that target that niche and specific cities? So far I've made money by partnering with a couple digital marketing companies who sub contract me to build the site's they sell. I'm also thinking of having a main general site that talks about working with digital marketing companies directly, then possibly having other websites built to target niches. [link] [comments]  |
| Working at lowes to get health insurance. Posted: 13 Aug 2020 12:06 PM PDT Okay so I am still in the planning stages with of starting my recruiting business which I plan to start in 6 months.I have a non-compete so I cannot do any real work until I leave my employer. The biggest financial hurdle I have had to figure out is health insurance. I will turn 26 - 2 months after I plan on starting this business and get kicked off my parents. Estimated cost for health insurance on the exchange is $500 a month for meh insurance and $600 for good insurance. What I have come up with is working 5-10 hours a week at lowes. Obviously not the coolest option but for a second I got really upset health insurance might crush my dreams. So I am excited about working at lowes! My health insurance will cost me $50 a month as a part time employee! Anyone found a better solution? [link] [comments]  |
| When is it a good time to hire a legal advisor for my startup? Posted: 13 Aug 2020 12:00 PM PDT Recently, my co-founder has been bugging me to get a legal advisor and he has found one who is studying law on his second or third year right now. We just started our small startup like two or three months ago. I am not entirely sold on why we require a legal advisor right now and I believe it might be a waste of money. I asked my co-founder what we would need him for and he replied with basically giving advice on anything related to the law, employment related, IP, forming any other sorts of contract etc. Thing is we do not really have the money to spare at the moment for this kind of expense. How should I deal with this situation? I am a bit lost right now with this whole situation. When did you guys get a legal advisor for your startup? When is it a good time to get one? Would you recommend getting one now even thought we can not really spare the money for this service? [link] [comments]  |
| Lesson : Empathy vs Capitalism (Start up rant) Posted: 13 Aug 2020 03:41 AM PDT I am not talking about Macro Capitalism I am talking about micro capitalism (my world where a 100k USD deal is a big deal) Why do we have to fight every single time with customers to pay their invoices on time? I understand that this is a negotiating tactic to squeeze some discount but why can companies not just do the right thing and pay what they agreed to pay. I give customers alot of leeway because we are a tiny company and unfortunately (or fortunately depends on how you look at it) my parents did not raise me to be a callous capitalist that will squeeze blood from a stone. I was raised and my personal beliefs are that we all support each other and together we create successful businesses. Obviously other people dont think like that. [link] [comments]  |
| How do you plan to scale past startup when considering VAT? Posted: 13 Aug 2020 10:54 AM PDT Am I just getting caught up by product price when I should be focusing on customer percived value? Increasing profit margin by 20% just to pay VAT seems unachievable if you ever aim to scale a startup past the minimum revenues for non VAT allowance. Someone please prove me wrong! [link] [comments]  |
| Posted: 13 Aug 2020 09:57 AM PDT I'm also just generally interested to hear anyone's experiences of setting up vesting schedules (time-based) with a CTO/Cofounder? I know vesting is a good way of hedging the risk of giving away equity, but I wanted to be sure that it was possible to end a vesting schedule if that person is not performing optimally. Thanks [link] [comments]  |
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