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
- Stuck in bootstrap hell
- Advice on equity split between two founders
- I want to start my own business, how do you pay your bills while investing money and time in your startup ?
- Had a business before going into the pandemic. Lost a lot of money. What do I do now?
- Should I put off buying a house for a year before launching?
- Any Tips to Bring Organic Traffic to a New Website?
- Need feedback and advice for starting Bookkeeping business.
- Can you market an app this way?
- Social Media for B2B Saas
- Why are you/aspire to be a founder/entrepreneur?
- What is the best software/card to manage and approve employee transactions before they are made?
- How can I be a better technical co-founder?
- Advice on prototyping?
- Fair Equity for Unpaid Employees
- Where did you find your CTO?
- Grants for Startups?
- Marketing Commission
- How do I gain customers for a craft business
- What is it called in startups/markets when "too many" people are using a product and it loses its value?
- Requirements for insurtech that compare insurance quotes
- Hey I'm a 13 year old and thinking of starting a online business.
- Your opinion on loans to bridge next finance-round
| Posted: 11 Aug 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: 11 Aug 2020 02:19 PM PDT Looking for advice from people who have went the bootstrapping route. We're in this dead zone where customers are piling up but we can't afford to pay ourselves (3 co-founders) full-time yet, all the while holding primary jobs. We're an ed-tech SaaS platform that sells to schools/districts. We started back in summer of '18. First sale in March '19. We're in over 70 school districts. Sales scale off of student count, somewhere in between $500 (min) - $7,000 per yearly contract. We have 4 temp 1099s and are looking to make our first hire (office admin) to handle all of the paperwork, contracts, expenses, etc soon. I'm just whacked at the moment. Constantly fielding support tickets while trying to maintain and expand upon a web and native app. Spinning plates would be the phrase to use. I've slept very little this week (this is our busy season). If anyone has any input or need to ask clarifying questions, by all means. [link] [comments]  |
| Advice on equity split between two founders Posted: 12 Aug 2020 12:30 AM PDT Hi all I'm sure this question gets asked a lot but I think mine may be slightly different here. I am building a startup in the beauty space and have been looking for a technical co founder for a few months now. I have connected with someone who has a super strong profile, the right skills, complimentary skills, working chemistry and similar vision. We work well together and are now excited to get started on the MVP. We discussed equity split - neither of us are experts but we've both dabbled in entrepreneurship. My family has a few entrepreneurs in it and they have advised me on a 50/50 split for these reasons:
The co founder is not an expert either (his own words) but feels that slicing pie sounds fair to him because
Would love to hear your thoughts on this [link] [comments]  |
| Posted: 11 Aug 2020 07:07 PM PDT I'm 21yo and live with my parents, I have a 9-5. My parents would support me in building a business (conceptually, not financially). How can I proceed ? Move out in a tiny place and work part time ? I think my overall request is to know how you guys did/are doing it : how do you build your business while being able to eat and have a roof. Keep grinding bois. [link] [comments]  |
| Had a business before going into the pandemic. Lost a lot of money. What do I do now? Posted: 11 Aug 2020 11:17 AM PDT So, I had a great business going. I saw an opportunity and a demand for our new product so I decided to invest a lot of money. We invested a lot in resources, marketing and also had a few investors. But, with the pandemic,Business has halted . It's really hard to continue when sales are scarce. Some employees have had to be removed and a lot have reduced pay. The investors are unhappy and alot of them have pulled out which also results in reduced funds. So we are going into a vicious cycle and it's not looking promising for us. I don't know what I should do at this point. We are not able to manage finances . Give me some advice or sources that I could see look at to learn a few things about money and personal finance in general. [link] [comments]  |
| Should I put off buying a house for a year before launching? Posted: 12 Aug 2020 04:48 AM PDT Feel like being tied to a mortgage would limit my ability to focus on my new business once I quit my day job since I may have to take consulting gigs 2-3 days a week to keep up the additional income required. Also means I can't downsize as easily if necessary. I'm not in a rush to buy and don't mind renting, but mum and girlfriend seem to think it's a good idea. Also once I've left paid employment it'll be much harder to get any mortgage. What's the general advice here? [link] [comments]  |
| Any Tips to Bring Organic Traffic to a New Website? Posted: 11 Aug 2020 11:01 PM PDT Hi, [link] [comments]  |
| Need feedback and advice for starting Bookkeeping business. Posted: 11 Aug 2020 05:18 PM PDT I'm 17 and have a goal of starting my own business in my 20s. I need your guys help and motivation and was wondering if you guys could provide me with some feedback. After graduating with my accounting degree, I would like to get a couple years of work experience at a small accounting firm and then start my own bookkeeping business eventually. I always thought Bookkeeping was just a side gig, but looking at the rates that Self employed bookkeepers charge it seems that Bookkeeping can be a full time business. Bookkeepers in my area charge 50-60 dollars per hour. Alright so here's my plan. I graduate with an Accounting degree at 21 and then get 2 years of bookkeeping experience at a small firm. So now I'm around 23. Start my own firm at 50 dollars per hour. After a couple of months hire 4 full time employees and change my rates. My services would include payroll,bookkeeping,and tax prep for local business. My main target audience would be small local business with under 500,000 in revenue yearly such as coffee shops,local plumbers, barbers, etc. Aight here the rough math. Charge 60 dollar per hour since that's the average rate in my city. I got 5 employees including me, working 40 billable hours per week. So thats 60 dollars per hour x 40 hours per week. That's 576,000 in revenue, I take 150,000 there's 426,000 left. I pay my 4 employees 70,000 yearly thats 280,000 in employee wages so now theres 146,000 yearly left for rent and other expenses.Just some rough math. Any tips or advice would be greatly appreciated 🙏 I would appreciate if you guys could give me some feedback so I can make sure my dreams come true. [link] [comments]  |
| Can you market an app this way? Posted: 11 Aug 2020 04:45 PM PDT Hello everyone I'm currently a CS student and I have an idea for an app which would require information from Brick and mortar stores which I'm assuming won't just be handed over. So my question is, assuming that my app would make them money and improve customer experience, is it feasible to build the infrastructure of the app and then sell that with mock store examples to show that it would work and would be plug and play, I would help them port it and refactor any code. If so how would I protect myself from this just being copied as soon as I pitch it? Thank you for your time! [link] [comments]  |
| Posted: 11 Aug 2020 04:49 AM PDT Hi everyone, I hope this an ok sub to ask this, but if there's a better place, please direct me. I'm starting work in a small-medium sized B2B SaaS company soon, and I would like to improve their social media presence, as it is quite disjointed now across platforms. I was wondering if you know about any good examples of a B2B SaaS company that does social media really really well, as I would like to do a thorough analysis and get some inspiration. I am NOT looking for any 'grow rich quick'/'get bazillion followers right now' schemes, I just want to create a long term, well though-out strategy that would fit our brand and help customers as well as raise awareness of the product. Another question I have, is whether you use any platforms/software to manage your company's social medias all in one place? Are there any that you'd particularly recommend? Thanks folks! [link] [comments]  |
| Why are you/aspire to be a founder/entrepreneur? Posted: 11 Aug 2020 06:22 PM PDT Let's go back to basics, as the title asks, share your why regardless of what it is and let others comment on it. Mine is: I love people, I love nature, I love technology, I love traveling, I love learning and I building things that save people prescious time so they can spend it on having fun and enjoying life holistically. If I would know I'd day today, I'd die happy and content knowing that I am devoting my life to share the beautiful things I learned from life with fella humans. [link] [comments]  |
| What is the best software/card to manage and approve employee transactions before they are made? Posted: 11 Aug 2020 06:05 PM PDT Given the current COVID situation, I've been looking into hiring VAs to make purchases for some of my inventory. I've been doing some digging on what might work best to ensure they are working under an assigned budget, purchasing only from approved sources/sites, and need to request approval before making transactions. I've looked into Mesh virtual cards, TeamPay, and others, but am not sure what would work best for a very small operation starting with 3 VA's at most. I'd love to read about experience with any software/card that can tackle this issue. [link] [comments]  |
| How can I be a better technical co-founder? Posted: 11 Aug 2020 02:15 PM PDT I'm in my late twenties. I have an engineering degree, relevant fintech work experience (inc. management/hiring) at a fast-growing scale-up, and I'm now doing an MBA (ducks). Here, I've met a co-founder who is interested in the same problem that I am and we've started working together: he on sales/partnerships and I on tech/product, due to our respective backgrounds. Long story short, I interpreted "technical co-founder" as "the woman who writes code" and wasted several weeks immediately launching into this before doing any customer validation, etc. I'm sure you've heard it all. I've actually got to the point where I've realised me hand-coding the MVP from scratch is probably not the best use of my time, but that leaves me with this gnawing sense of "so what am I good for, then?" So much advice focuses on how to find a technical co-founder, how to get by without one, how you can use outsourcers for an MVP in a pinch "but try to get a tech co-founder of you can", etc etc. Is there any advice you can recommend for someone like me: co-founder with a technical background who isn't necessarily "the technical co-founder", wanting to be more effective at pushing the product forward and not falling into traps like starting to code just because it feels familiar? Or - any other traps I'm likely to hit? Everyone tells me this combo is a great one, but on the ground right now I just can't seem to harness it to its full potential. [link] [comments]  |
| Posted: 11 Aug 2020 02:12 PM PDT Hi everyone! We have iterated our idea over and over again, and are now looking to create a virtual prototype for our pitch. Any advice on how to find someone that can create a workable prototype? Our product is an app, and we want the prototype to be workable enough where we can show a demonstration of our concept. We currently do not have a CTO so we can not make it in house. Let me know! [link] [comments]  |
| Fair Equity for Unpaid Employees Posted: 11 Aug 2020 05:09 PM PDT I'm being offered equity in a bootstrapped startup. Obviously there are many factors to consider but one piece of the contract really stands out. They are offering 0.5% vested over 4 years which to me feels low with no salary. However in the contract they stipulate a salary when the company is able to pay. Also this wouldn't be a full time position until the company could pay a salary. I'd be putting in 10-20 hours per week on top of my day job. Is this a standard thing to do? If so does the 0.5% equity seem reasonable when the company is at least a year away from having any sales and possibly several years before sales are enough to pay all employees. [link] [comments]  |
| Posted: 11 Aug 2020 09:13 AM PDT I have an outline of what I'd like to create and have done market research. I've also talked to people if they would use my product and the majority have said yes. However, I do not have a programming background (so I just started learning how to). In order to speed things up I'd like to find a CTO and was wondering for the people in here who have found a CTO, how did you find them? Any help is greatly appreciated, thanks. [link] [comments]  |
| Posted: 11 Aug 2020 03:12 PM PDT There seem to be a number of grants available for non-profit organizations, but does the government (ie Small Business Development Center) issue grants to grow tech startups as well? Also, is there a good website for viewing all the available grants that are out here? [link] [comments]  |
| Posted: 11 Aug 2020 03:09 PM PDT For startups with no Money, what's best approach to outsource marketing and tie payment to revenue generation for say a contractor. What would be a fair commission structure for someone who is doing marketing related tasks such as social media, blog, email drip campaigns, advertising etc? [link] [comments]  |
| How do I gain customers for a craft business Posted: 11 Aug 2020 02:01 PM PDT I run a small craft business, different resin items and embroidery. But it's seemed I've plateaued in the amount of people who I've reached (which isn't a lot) It's a page on Facebook& Instagram so I'm not sure how to expand. I don't think raffles/ give aways will help since I don't have a lot of people. Any advice on getting my name out there will help [link] [comments]  |
| Posted: 11 Aug 2020 01:30 PM PDT Assuming I built a product (let's call it product 'A') which helped customers to purchase a product 'X' below the average price or sell the product 'X' above the average price (a market advantage). For example, if you use our site, we can tell you the best time to buy/sell a product and you would spend less/earn more than other people buying/selling that same product. If the product 'A' was successful and gains traction, is there a point at which so many people use the product 'A' that it is impossible to give them the market advantage due to the population of our customers being so large that the average buying/selling price of product 'X' changes to what is being bought/sold with product 'A'. If this point in time exists, what is it called? Also, what is the probability that a product would reach this point? and how long would it take? [link] [comments]  |
| Requirements for insurtech that compare insurance quotes Posted: 11 Aug 2020 12:37 PM PDT Hi all, I tried to get some answers on Insurtech subreddit but hope I will have more luck here. Recently I moved to the US and I'm looking to open a website for comparing insurances. So, user would answer few questions and we would give them the cheapest quote from our partner insurances. I know there are many sites like this but lets put that aside. What are the requirements to have such a site? As I read online I need insurance brokerage licence - do I need separate licence for each state? After I got licence I would need to get agreement with insurance company to be their partner, right? How hard is to approach to insurance, I'm thinking that should be easy since this is another channel for them to sell insurance. Hope this make sense. [link] [comments]  |
| Hey I'm a 13 year old and thinking of starting a online business. Posted: 11 Aug 2020 03:28 AM PDT Any tips or platforms that I could use to help me with this journey. I'm trying to start a online business but I have no experience with eCommerce stores. So any tips would be very helpful. I do have a little bit of experience with website coding if that would help me with my business. [link] [comments]  |
| Your opinion on loans to bridge next finance-round Posted: 11 Aug 2020 06:38 AM PDT Our startup was hit by COVID as many others and we are thinking on rising a bridge-finance round to cross over to the next Series-A finance round in 12-16months without major adjustments. Instead of an invest one of our investors offered us a loan (low interest, long payback time). It will be around 10-20% of the anticipated investment volume in Series-A. No future investors likes to pay for the debts of the past. In our case we could have a debt of about 20% of the investment volume (if we accept). I worry about future Series-A if we have debts. How would you estimate the impact of debts on our next finance round? Is there anything important that we should watch/care for? Edit: the investor does not want to offer a convertible loan. [link] [comments]  |
| You are subscribed to email updates from Startups - Rapid Growth and Innovation is in Our Very Nature!. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment