Startups Peer Support and Self Management Saturday’s - A Safe Place to Vent, Seek Emotional Support, Share Self Management Techniques and Experiences, or Just Rant |
- Peer Support and Self Management Saturday’s - A Safe Place to Vent, Seek Emotional Support, Share Self Management Techniques and Experiences, or Just Rant
- Exiting a successful, small startup - where to start?
- How to validate your business idea in Lagos, Nigeria
- Desperately need SaaS founder equity and voting help
- CEO trying to get money out of me
- Starting a software dev agency?
- no followers/influence - what did you do?
- Is this good traction?
- How much should employees be pushed to work?
- Any point of trying to get owed money?
- Launching a startup soon, it’s the end of the year - when to incorporate?
- Where do you do survey for your market/product?
- Sunday’s Success Stories - Celebrate Your Successes From the Past Week: Anything goes, none too small!
- Questions on building a startup that requires corporate partnerships as part of the model?
- What skills do I require to build this website?
- How did you build payment billing?
- Software for tracking leads and interviews
- Australian Listing For Pre-Revenue Startup??
- Change in business position due to covid. I am not sure how to rebuild our new business position. Need advice.
- Startup Companies: Biggest failures of All Time
| Posted: 26 Sep 2020 06:05 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]  |
| Exiting a successful, small startup - where to start? Posted: 26 Sep 2020 06:16 AM PDT It's a successful Ed tech SaaS I run part time (10 or so hours a week) as a solo. It does 400k+ revenue and 80% profit, growing at 25% a year for 5+ years. I expect continued growth along the same lines...but it's a side hustle and I'm spread too thin in life. I respect the benefits owning it has for me and my family, but I think I'm also ready to take a break and enjoy the benefits of selling it. What's the best way to find possible buyers? Are there any other courses other than selling outright I might use? Funny thing - I've got no business background so don't know the answers to what are probably basic questions to you all. Forgive my ignorance. My MBA is courtesy of this subreddit. Edit - fixed a typo. [link] [comments]  |
| How to validate your business idea in Lagos, Nigeria Posted: 26 Sep 2020 11:44 PM PDT Hello, I would just like to share this with anyone interested in doing business in Nigeria or West Africa, some of the mistakes and things to learn. [link] [comments]  |
| Desperately need SaaS founder equity and voting help Posted: 26 Sep 2020 05:35 PM PDT SaaS idea: bring automation and a web platform into a struggling manufacturing industry. Platform serves as a global front to sell products from struggling industry while implements AI to help boost both seller/buyer ends. Founder A: bringing the initial capital needed, about $10,000, to bootstrap and get the mvp done. Project managing the whole mvp development, tech founder. Founder A is CEO currently and holds 95%. Founder A is not in the struggling industry nation and does not have as much industry specific connections Founder B: not tech founder. Industrial engineer with 2-3 years experience in the struggling industry. Has blueprints of successful companies who did not take action on their plans so he wants to use said plans and make the platform happen. Has established connection in industry. Will not bring initial capital for bootstrap to make mvp. Will not be pitching to investors and has been already rejected by some investors due to not much executed plans to show for. Only has excel sheets of plans, mock-ups and connections in the field. Holds the rest of the 5% after a slight misunderstanding with founder A and took some time off. Now back to the deal. Deal on table from founder B: he keeps 45% and founder A keeps 55%. Equal voting rights and both are directors. Founder A is struggling to manage the tech aspects of the project and manage to maintain connections in industry to establish the supply chain and the service end, for the platform. So founder B is pledging to take care of the whole supply chain, from supplier to customer. In this scenario, should Founder A take the deal? From founder A's POV, 73-27% split seemed the best. But I want some mentors to help me please. I don't mind paying someone for their time and such advice, but where would a founder in such needs go? [link] [comments]  |
| CEO trying to get money out of me Posted: 27 Sep 2020 12:20 AM PDT Hi, I founded a startup around 6 months ago with some individuals from India. Over those six months we registered our company as a legal entity in India (LLP) and along with this, we were told each that our details have been forwarded for 'Registation' by the CEO so that we can get equal equity. This was 2 months ago. Every time I've asked for an update, or mention that it's been a while, I get shot down by the CEO who keeps saying that because of COVID-19, there are 'delays'. To me this sounds like an excuse. Throughout the six months I was investing in my slice of monthly expenses until 2-3 months ago. What happened was that the CEO purchased some services such as Instagram Ads which me and one other co-founder was not made aware of. I brought this up to the CEO who lost his cool, saying that I should not be questioning these purchases since they did not fall under my supervision and that as a co-founder I must pay for it, since, according to him, I am a co-founder. However these words are meaningless if I do not hold equity, and there are clear operational issues here as they're trying to force money out of me for purchases I have had no say in. Furthermore, when we first launched, the CEO, who apparently started the legal process of creating a LLP told me that because I am from the UK, I will need to register as a co-founder a couple months later as it will add complexities to the amount of money that we can initially invest. He told me that his lawyer showed him the 'relevant law'. Smelling bullshit, I asked him multiple times to show me the legislation so that I can try and sort things out from my side, or that I can understand the situation more. It has been 5 months and he keeps shooting my request down, recently telling me that "It's not a big deal". I feel like he lied simply because he wants more equity for himself. This was made apparent later, when he said that he's forwarded our details for registration. So suddenly this is no longer an issue. Fast track to today, we have more expenses coming up. I still have no proof of equity after 6 months of operation, and 2 co-founders have just left for personal reasons. I will be quitting in the next couple weeks. Nobody has seen a shred of evidence that they have equity. Now those co-founders (and I) are being asked to pay for the purchases (total cost / 6 founders), which is around £150 each, even though we are quitting, and have never had equity. I feel like the CEO has simply delayed in registering co-founder details for equity since it has been months, and in addition there is no legally binding agreement between us. It appears that he has been delaying to get free work out of the other co-founders and I, and to get our money. I have been paying for the monthly purchases in the past as I gave him the benefit of the doubt. However I have seen no progress in getting equity for months and it looks like we'll never get it. We now have our monthly expenses come up. He is trying to get the 'cofounders' who are leaving to pay up, and in addition to this, he said he will be 'releasing' their equity so that there is more for the rest of us. Now I don't know too much about Indian LLP Law, but I'm pretty sure that equity cannot be released by any other co-founders. So what hes actually saying that equity has not been locked in yet. I understand that in reality that equity was never there. Should I pay my part of the expenses? I am thinking about refusing because: A) I have never seen a shred of proof regarding equity B) Some purchases were made without my knowledge C) I will be quitting in the next 2 weeks (university starting) Some advice would be really appreciated. Thanks. [link] [comments]  |
| Starting a software dev agency? Posted: 26 Sep 2020 06:35 PM PDT I've been a developer for 5 or so years now and am doing well. I would like to one day offer a SaaS to customers but am having a hard time figuring out what to offer. So instead I was thinking of maybe picking up multiple dev contracts at the same time and working with a buddy on those contracts to sub-contract and divide work with. What are the legal implications of picking up multiple contracts and sub contracting to other members of a team (I will be participating in the work as well and ensuring expectations are met)? I am planning on opening an LLC and going to start feeling out customers. Just let me know what I may be missing or if this is a bad idea. Thanks. [link] [comments]  |
| no followers/influence - what did you do? Posted: 26 Sep 2020 03:33 PM PDT Hi I was wondering if there was anyone out there who started a business without a following on social media like Instagram or Facebook, completely from scratch. What marketing strategy did you use to get more people to see your products? I'd also appreciate any advice or experiences you've had with your startup! Are you happy that your started? Thank you so much! [link] [comments]  |
| Posted: 26 Sep 2020 05:27 PM PDT Hey everyone, I just launched an MVP for an idea I've had for about a week now. I posted a few ads on Craigslist over the weekend, and I received my first 100 users within a few hours of throwing up my ad. Is this something that I should pursue investment for, or should I wait until it's absolutely necessary. Also, would this be considered optimal traction? I spent around $100 in Craigslist ads. [link] [comments]  |
| How much should employees be pushed to work? Posted: 26 Sep 2020 10:56 AM PDT What culture should a startup cultivate so employees feel motivated to work harder? I've seen a lot of successful startups make their employees work overtime and even on weekends without play. I read that productivity should be coupled with playing and having activity breaks so people can bond with one another. But with tight deadline and money to be made, the idea of working out asses off may seem like a better choice. [link] [comments]  |
| Any point of trying to get owed money? Posted: 26 Sep 2020 04:51 PM PDT As well as a full time job I supply and fit car modifications on the side (not registered business / through FB marketplace)- mainly cash / bank transaction payments etc. A few weeks back I did a job on a car late at night however the part was not working properly (to his observation). Quote was £350. I gave the option of keeping the part until I find a solution and accepted payment of £150. Agreement was for me to come back and fix it and I get rest of money - instead of spending extra few hours removing the part. I've messaged and not heard back - basically ignoring me Is there any point of me trying to get this £200 from this person. For parts I am about £25 out of pocket, rest of the money is for labour. He lives a few hours away and it would cost me around £30 to send the damaged item back to the supplier What do you guys think? [link] [comments]  |
| Launching a startup soon, it’s the end of the year - when to incorporate? Posted: 26 Sep 2020 09:19 AM PDT Hello, I'm actively working on an MVP and realistically expecting to launch and begin servicing first customers in the beginning of the next year. This begs the question - when should I incorporate? Is there a benefit to incorporating in 2020, filing taxes and other financials for 2020 with 0 income and few expenses? I'm curious on whether it matters to banks and other institutions to have a "previous years tax return" next year, for example, even though there will be little to look at on that return... This is in case I do decide to try to get a loan or qualify for some benefit - again, not even sure if this matters. I don't plan to raise capital at the beginning at least. I plan to support the launch and initial operations with my own funds. Thanks! [link] [comments]  |
| Where do you do survey for your market/product? Posted: 26 Sep 2020 10:38 AM PDT Hey guys, I'm looking for information about a specific market, I thought doing that through surveys. But where do you get people to respond those? nearly any web reddit sub, facebook group etc, will consider it spam. The proper subs to post it have a really small public. What's your approach to that? Where do you do survey when you need? do use paid services, if so, what ones? do you pay youtubers or instagram with alot of followers or soemthing like that? [link] [comments]  |
| Posted: 26 Sep 2020 06:05 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]  |
| Questions on building a startup that requires corporate partnerships as part of the model? Posted: 26 Sep 2020 01:55 PM PDT I have been drafting a business plan for the last month and my business model requires corporate partners to function properly. Partners are essential to even build an MVP. And while these corporate partners don't necessarily have to be big, I need a lot of them (5+) before I can move forward with the project. These partners would all be in the same industry vertical I've done some research and have read that it shouldn't be too difficult setting up introductory meetings with the corporate offices of these companies, and people have also mentioned that financials and concrete business plan information are not necessary for these meetings. The partnership would be very simple on their end, and would not require any manufacturing, spending, or advertising from their side. My questions are:
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| What skills do I require to build this website? Posted: 26 Sep 2020 09:47 AM PDT So I had an idea for this website. Its a bit like YouTube. People can upload their video and have their own profile. There will also be a trending page. I'm 18 years old right now and was wondering what languages/ software skills do I need to know to pull this off. I currently know a little bit of HTML and CSS. Since people will be uploading videos I know I'll have to know backend development as well due to servers and databases. It would be great if you could help me know what other software skills like bootstrap or JavaScript do I need to learn as I intend to get this website up as soon as possible. Thank You [link] [comments]  |
| How did you build payment billing? Posted: 26 Sep 2020 11:58 AM PDT hi startupers. Please, answer my question What payment gateway did you use when start? What did work fine what not? What problem did you have? How did you build payment billing? It is really help me, i'm founder one no-code platform about payment thanks [link] [comments]  |
| Software for tracking leads and interviews Posted: 26 Sep 2020 06:58 AM PDT I'm a tech guy so forgive me for possibly using the wrong jargon. I'm looking for a software where I can visualise and manage my leads while doing market research. I started with an excel sheet but the approach bothers me a lot because it's not easy to manage or get an overview. It is especially important because I'm doing it simultaneously with my co-founders and I don't want us to accidentally chase after the same leads for example. I'm envisioning something like a CRM type of interface. But I haven't done this, or any type of B2B sales, before so please enlighten me if there is some better way of doing it! [link] [comments]  |
| Australian Listing For Pre-Revenue Startup?? Posted: 26 Sep 2020 08:15 AM PDT I would like to pick up some Reddit wisdom. We are currently switching from alpha to open beta with our app. We are doing AI-driven, time-independent remote meetings. That's pretty much in the nexus of some hot topics of the present. So far we are still bootstrapping. We are Berlin based, but remote-only. Now there is an Australian analyst who urgently recommends us to list on the Australian stock market very soon. He has good contacts and says the emerging tech market has been booming for a few years now. I then expressed some concerns because I met with the CFO of a fellow startup in Berlin, who was listed in Sydney in 2014. He was skeptical because he told me that they had a market capitalization of $100M in Germany at the time of listing. He said that too early broker financing would expose us too quickly to the profit hunger of brokers and shareholders and that we would come under pressure with our technical development. The Australian analyst then said that this is not true for our company, because in an emerging tech company like ours, the key KPI will not be profit, but growth. The other comparable company of my acquaintance was not a pure tech company, but in the food industry and there it was not a first mover. We are a first mover with very strong technology and disruptive potential. For us, the central KPI would be growth, not profit. I find all this a very interesting discussion. I think we will now simply continue to develop our technology with full concentration, but of course we will listen to what people say. But I would be interested in Reddit Wisdom on the subject. What do you think? What do we have to pay attention to? What experience do you have? [link] [comments]  |
| Posted: 26 Sep 2020 04:34 AM PDT In a span of just 8 months , we have made a lot of changes in our business position (to be exact, 4 times) . Now, we are at a completely different position from where we started. We started as a B2B2C business model to now , the 4th change to targeting offline shop sellers . Driving and targeting those audience is a difficult task and I'm confused on how to reach out to all those audience. What are the things we should be doing to get people onboard our new business position? [link] [comments]  |
| Startup Companies: Biggest failures of All Time Posted: 26 Sep 2020 07:16 AM PDT This post is based on the research that I made for a YouTube video that you can find here. The numbers have been updated with September 2020 numbers on all startups. MethodologyI've researched all kinds of different sources and compiled a list of the Top 10 biggest failures when looking at how much was invested in them. I've done extensive research, but I may have missed something, so would be great if you find something that I've missed and isn't on the list. Personal CommentI made this list so that we can learn from them and avoid their mistakes. Always remember though that behind any Startup there are real people, real people that have invested blood sweat and tears into these startups. And Yes they most likely invested blood sweat and tears even if the startup ended up as a failure. Building a startup is rough, going down with a Startup is even rougher, so well done for trying! #10 Terralliance $358 million invested #9 Amp'd Mobile $407 million invested #8 Pay by Touch $427 million invested #7 Webvan $580 million invested #6 Abound Solar $700 million invested #5 Theranos $726 million invested #4 Better Place $755 million invested #3 Jawbone $1,045 million invested #2 GO.COM $1,162 million invested #1 Solyndra $1,853 million invested Why do most Startups fail?Looking at the list it becomes pretty clear that there are two reasons why these really big failures happen. Either they never find a product market fit or there is some mismanagement or bad decisions. In some cases there is both. If you ask, What is the number one reason startups fail? It is pretty clear from the biggest startup failures of all time that the number one reason for failure is that they never get a Product Market fit. Take Theranos, there clearly was no product market fit, but on top of that some really bad mismanagement and maybe even fraud. Where Startups Fail (and Win)Another interesting observation for this group is that they are ALL from the US, not one single Startup from anywhere else in the world made this list. Actually, the geography is even more crazy. Not only are they all from the US, but 9 out of 10 are also from California. All 9 are either in the San Francisco Bay Area or Los Angeles, incredible to see 9 out of 10 are from only 2 cities. Sure there are some really big losses here in California and you are tempted to think that they make some really bad investments in California. However, California looks bad because this is where most investments are made and there is a willingness to take really big bets here. When you take really big bets you will win some and lose some. We have to remember that the number of big winners here is even more staggering - companies like Facebook, Google, Apple, Cisco, Intel, Oracle, eBay, Salesforce - you know I could keep going. This post is based on my best research, if you find something missing, please post a comment. Also, if you have any stories about these Startups it would be very interesting to hear them. Most of these companies have some really colorful personalities and leadership behind them. [link] [comments]  |
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