Startups Share your startup - August 2020 |
- Share your startup - August 2020
- Peer Support and Self Management Saturday’s - A Safe Place to Vent, Seek Emotional Support, Share Self Management Techniques and Experiences, or Just Rant
- Will founding a startup hurt or help future job opportunities?
- Other than standard hourly and salary arrangements, what other pay structures have you seen or been a part of? Did you like them? Why or why not?
- Do I have to register as a company?
- What advice would you give someone who is considering working at a start up? What questions should a potential employee ask before signing on?
- Too big for home business, too small for warehouse. What now?
- Using Linkedin to reach out cold? (B2B)
- About startup stocks
- Map-Based Mobile App - Where to Start?
- Payment processing for Saa with recurring subscriptions
- Reach/Pitch Bank Software Procurement
- Do you already plan/have a strategy for your startup's exit?
- Need help defining growth strategy for launch of new tech business
- Find a technical co-founder or outsource?
- 50k datacenter start-up
- Is it plausible/a good idea to get a tech co-founder on board at thus stage?
- Sunday’s Success Stories - Celebrate Your Successes From the Past Week: Anything goes, none too small!
- Idea validation and estimating market size
| Share your startup - August 2020 Posted: 01 Aug 2020 04:07 AM PDT Tell us about your startup! /r/startups wants to hear what you're working on! Contest mode is on, so remember to select 'Show All' to see all the replies. If you don't see your post, you probably need to load more comments at the bottom. Also, all posts are sorted randomly, so the sort function doesn't seem to work.
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| Posted: 01 Aug 2020 06:07 AM PDT Welcome to this week's Peer Support and Self Management Thread. This is a Safe Place to Vent, Seek Emotional Support, Share Self Management Techniques and Experiences, or Just Rant. The goal for this thread is to help one another manage mental and physical health so we can more easily find success. We all struggle sometimes and it is important to recognize that the struggle is part of the journey. The important thing is to learn how to overcome that adversity to grow and succeed. Be tactful and classy in how you vent your feelings and share your frustrations. Act in a mature manner. Ask questions, share experiences, and be there for one another. Practice empathy in giving advice and remember that what worked for you isn't guaranteed to work for others. Make suggestions, not demands of others. #Because this is meant to be a safe place to support emotional and physical health there is a zero tolerance policy in effect. Be KIND. Be sure to report any conduct that is in violation of that key tenet. You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| Will founding a startup hurt or help future job opportunities? Posted: 01 Aug 2020 06:28 PM PDT I'm a software engineer with about 1 year of experience, and I have a startup I am considering founding with someone else. Right now I work for a small company, and work on the startup as a side project. If the startup gets enough traction I plan on working on it full time, because I think it has a lot of potential and I care about the idea a lot. If it fails, I figure that it will be a great learning experience any way. Would founding a start up be a positive or a negative on my resume if I do have to go back to a "normal" job? [link] [comments]  |
| Posted: 01 Aug 2020 11:40 AM PDT So as a startup, one of the biggest issues I see would be, how do i pay for help? Many people are trying to start their business with little to no money. Maybe they can raise it, but how much? A lot of people offer equity, which would be great if the business succeeds, but often they dont. So how do people get paid? I have offered equity myself, as of course, I truly believe my business will be successful as most people do. But the reality is, its not successful until it is. Can't really predict everything. But, I want to be fair while at the same time keeping my cost low enough that i can afford to operate in the first place. Personally I have been considering a base pay (maybe even slightly less than industry average) to start out, with the hopes that my company will achieve success, in which i will offer a monthly bonus based on a split of company profits. I wanted to distribute this split by employees based on days worked that month, position, experience, and contributions.I'm hoping this would encourage them to work harder because their work would directly influence the company profits, thus their paycheck. I think this could apply to both large and small companies. So i'll use a smaller company for an example. lets say i have a family entertainment center, and pay my employees minimum wage. I'd need a few to manage the desk, maybe a few to help with different attractions, etc.Now we all know a lot of minimum wage workers (and probable people in general), tend to do the bare minimum to get a paycheck. Unfortunately this often means a few people work hard, while others sit around and twiddle their thumbs. But my system would recognize that more productive employee, and they'd get a much higher bonus. If i dont need to hire a janitor because my current employees are able to handle the task, then their bonus is hire because its one less person to split things with. There are some people who can do the job of 2-3 people with ease. They should be paid more. Has anyone been in a pay arrangement like this? Do you think it would work? and what other ideas have you seen, and how have they worked out? The above is just one idea i had, It can be A point of discussion, but I dont want it becoming the ONLY point of discussion please. Particularly, I am interested in people who have had equity agreements both in a early stage start up and mature company. How have they worked out for you? [link] [comments]  |
| Do I have to register as a company? Posted: 01 Aug 2020 10:07 AM PDT Hey guys, I'm making an SaaS app. I'm currently learning to program to start making it. I live in the UAE, which has no taxes but has company registrations that cost up to $20,000. With the cheapest one costing $6,000. I would have to get the $20,000 one when it's time to hire. I was wondering if I could wait until I could afford the $20,000 with the revenue from the app and not waste 6 grand when it's needed the most. Is it possible? Thank you! [link] [comments]  |
| Posted: 01 Aug 2020 07:21 PM PDT I am not sure if this is the correct place to ask these questions, but I have been working at a large corporation for most of my career. I was recently introduced to a person who is running a startup, and we set up a time next week to discuss an opportunity there. What questions would you want answers to if you were considering such a dramatic career change? [link] [comments]  |
| Too big for home business, too small for warehouse. What now? Posted: 02 Aug 2020 12:36 AM PDT I've recently invested in some more heavy duty equipment, and I've quickly come to the realization that doing this from home just isn't feasible anymore (for quite a few reasons). But the thing is, I'm still a self-funded startup, so a big warehouse isn't an option, not really any kind of a warehouse, since I don't need much space, and I also need to be in and out of there often. I can fit all of my equipment into a 10x10' to 10x15' room, I saw some people mention storage units, but it doesn't appear any of the storage units near me have power to the unit, or ventilation, which are both issues for me. What other options are there for small businesses to slowly expand into a new working area? [link] [comments]  |
| Using Linkedin to reach out cold? (B2B) Posted: 01 Aug 2020 06:53 PM PDT Hey there, [link] [comments]  |
| Posted: 01 Aug 2020 11:22 PM PDT Hi guys, I'm a software developer working in a 1.5 years old tech product startup. I joined the company on the very first day of the company when there wasn't even a solid idea of the product. It was only me and the founder for over 10 months. That makes me employee 1 but I'm not a cofounder. We don't have any investment yet. I handle most of the tech except some parts. So far the founder has not given me a clear idea of what I would be getting out of this. I took a pay cut to join here and I'm still underpaid for my experience. I would earn at least 60% more of my current pay if I were to switch company right now. I'm not concerned about earning less. I'm concerned about the result of all this. Could any one who has gone through a similar path or founders advice me on how to avoid getting cheated and what I should be expecting in terms of monetary gains? How does this whole process work? Should there be a written agreement or is verbal agreement till the company gets funded the way it's handled? Location - India [link] [comments]  |
| Map-Based Mobile App - Where to Start? Posted: 01 Aug 2020 07:16 PM PDT Hi friends, I've got a question but I'm not sure if I'm even in the right sub-Reddit. If this needs to go somewhere else, feel free to nudge me out the door and in the right direction if you happen to know where that might be. :) Long story short, I have an idea for a map-based mobile app. Much like a Yelp but curated for a specific set of businesses. I'd love to start by building out a (usable?) web version of this map that can then be passed onto a developer/designer and eventually made into a mobile app. This is currently a passion project that I'd love to operate as a non-profit in the future so I'm working with a super limited budget and would love to do as much of the work myself, in terms of building out the map, as possible. Any thoughts on where I should start? I'd love to be able to allow others to add businesses and points on the map as well though that's not 100% necessary. Thanks in advance! <3 [link] [comments]  |
| Payment processing for Saa with recurring subscriptions Posted: 01 Aug 2020 10:24 AM PDT My co-founders and are are trying to weigh which payment processor would be good for us. We are setting up a SaaS platform with recurring subscriptions. The bank we use for our business account will do payment processing but there is no way to implement it into our web platform. Our developer (who is also a co-founder) has looked at Stripe, as companies he has worked for previously have used it, but at $0.30 + 3% per transaction we aren't sure if this is good. We are looking for information on payment processors and we really aren't sure what is considered good or whose system is easy to integrate. Suggestions would be helpful. Who to avoid good too. Edit: Thanks everyone. After some comments here, and speaking to a friend who works on the payment processing back end for a large retailer, we're going to go with Stripe. It just seems like the easiest solution for the moment. [link] [comments]  |
| Reach/Pitch Bank Software Procurement Posted: 01 Aug 2020 09:38 AM PDT I've worked on a startup with a co-founder which was a tax optimization software for investments and we were first going to go direct to consumer but that didn't pan out. Instead of calling it a loss we could sell the technology to Banks/Investment firms which they could integrate into their systems. I can look on LinkedIn and try and reach out to procurement teams at banks, but I don't really know where to start in terms of what title to search etc. Is there a better way to find/pitch these procurement teams? To help summarize what the technology does: Utilizing tax law and market expectations the tool generates the most tax efficient way to save for retirement (and other financial goals). For example you might be contributing annual in this pattern: -Roth IRA $3,000 -Trad 401k $15,000 -Taxable account: $5,000 Instead the tool will suggest this saving pattern to minimize the taxes you pay over your lifetime. (This is just used as an example) -Roth IRA $5,000 -Trad 401k $18,000 -Taxable account: $0 Thanks for all your help! [link] [comments]  |
| Do you already plan/have a strategy for your startup's exit? Posted: 01 Aug 2020 09:27 PM PDT We often talk about starting and growing business but it seems as if the exit planning strategy is never provided for founders looking at exiting or selling their companies within X years. Considering you are all business/startup founders.
I personally have been finding it extremely cumbersome and while clean financial records are doable, the remainder of the process is exhausting beyond measures. [link] [comments]  |
| Need help defining growth strategy for launch of new tech business Posted: 01 Aug 2020 10:09 AM PDT I'm working as a consultant to launch a company and am trying to better define the verbiage for our strategy and hoping this group can help. It's a database and indexing company, their commercial strategy is to launch with demand gen to build pipeline for a limited feature, pseudo-trial version of their product and then upsell them to a full commercial version of the product. Is there a named strategy for this sort of approach? I'm building out the path to purchase and buyer and customer journeys but am having a hard time finding other companies who have had success with this strategy that I can look to for help. [link] [comments]  |
| Find a technical co-founder or outsource? Posted: 01 Aug 2020 03:45 PM PDT So having worked with some major software companies over the years I have decided to launch my own solution. Everything is drawn out including features and the basic mock up is created. My background is in commercial roles where I have built and run global channel strategies (The software is based on this sector) What I don't have is the skills to code the application itself. Would you outsource the development of this to a 3rd party? For example India, Ukraine, Belarus etc or would you find a technical co-founder? Having spoken to investors on several occasions, there is interest there but I am asking for the funds to go into development. It feels like a chicken and egg situation. Would it ever be possible to get a technical co-founder who can take care of development on equity alone until funds have been agreed from investment? TAM for the solution is $1.65B with 23 companies working in the same space globally. The blueprint that we have written up incorporates something completely new to the market which hasn't been done before and initial feedback from the potential customer base is extremely strong. We have reach into the market through working within software distribution and channel sales for many years - Target customer is software vendors and distributors. Main questions are: Do I outsource development and put my own money into it to get it to investment stage? Do I look for a technical co-founder on an equity share who will be in for the long haul? If so, where do I find those co-founders? Before anyone states "Why can't you go to your previous companies?" - There is a clause in my contract that states that I can't poach people away from the company. Any help is appreciated. [link] [comments]  |
| Posted: 01 Aug 2020 03:51 AM PDT Hello, I am from EU and I might be eligible to receive around 50k in funding to start a business, from the government. I was thinking about starting a small scale Tier 1 datacenter: buy 20-30 servers, hire a SysAdmin to take care of them and promote my business online and offline to local SOHO businesses and SMEs. I did some research and reading online, but most resources talked about setting up a fairly big datacenter (1m$ to 1b$). I do have some limited experience in this field (setting up websites for local businesses, using a VPS etc.), but not nearly enough. However, I like this field and I am open to learning more. Is here anyone who started a small scale datacenter? How viable of a business is this? It seems like a fairly profitable business to me, but I might be missing something. [link] [comments]  |
| Is it plausible/a good idea to get a tech co-founder on board at thus stage? Posted: 01 Aug 2020 06:54 AM PDT So, we ve been running our startup for 4 years. My cofounder left late last year, and I'm now a solo founder. We're a staffing platform with a fairly good web interface, and weve got some good devs that we outsource to. But, it's expensive. The feedback from our users has more and more been "are you going to make an app?", and "Can you add this feature to my user dashboard" etc. 4 years in, good and growing MRR, and I'm in it for the long haul. I run all marketing, sales (although we've just brought on our first sales/accounts guy in a commission only trial), product development, relationships, and from the industry we serve. I've always dreaded the thought of being one of those people trying to get a talented developer on board with promises of equity and growth, but, we've been going for a few years now, things are looking good, and I'm wondering if we're a good opportunity for a talented dev to join in as a co-founder long term. Our roadmap now has a lot of stuff in it which is tech based (features, app, etc). Would love to know anyone's thoughts. [link] [comments]  |
| Posted: 01 Aug 2020 06:07 AM PDT Welcome to this week's Sunday's Success Stories Thread. A lot of us get way too hung up on the destination and the fact that we are not there yet. It is important to take a moment to reflect on a great quote from Agents of S.H.I.E.L.D., "The steps you take don't need to be big, they just need to take you in the right direction"- Jemma Simmons This is extremely relevant to all of us in this community. We should all be more aware of the successes we achieve every day that carry us closer to our goals. Celebrating these successes, no matter how small they are, allow us to stay motivated, focused, and happy while we struggle to achieve dreams of various sizes. The purpose of this thread is to share our successes from the week with one another and have something to celebrate together. So, let us know what successes you have achieved this week! Nothing is too small or insignificant! #Because this is meant to be a safe place to support emotional and physical health there is a zero tolerance policy in effect. Be KIND. Be sure to report any conduct that is in violation of that key tenet. You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| Idea validation and estimating market size Posted: 01 Aug 2020 04:53 AM PDT I have an idea for a form builder app targeting a specific niche B2B. I am about to start validating my idea. According to my estimation there are about 500 organisations to which I could market this product. I am planning to contact 100 of these organisations for idea validation to gather initial feedback. Considering a very optimistic scenario, if I only manage to secure 100 customers, and charge 89$ per month for subscription which would result 8900$ a month. Is this enough to run a small SaaS company? Now I am wondering if 500 organisations is too little? I could potentially market it to other organisations. Should I also include other potential organisations in my idea validation process? [link] [comments]  |
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