- Started 3 companies. One 3.5m arr tracking 6m+ 2021 Q3. Other business with 1m+ arr in multi year contracts. Other business dead covid. Looking to raise capital to fulfill contracts. Labor force over committed. Bootstrapped all companies. Need advice
- What is the process of registering a business in your country?
- How do I send SMS for marketing
- How do I start a Tech Startup, The process is not clear to me
- Dual Canada/US Citizen Tax Implications Starting a Business in Canada
- How much profit sharing for CTO - Bootstrapped company
- Advice on next steps for web application idea
- Billing and User Logins for Enterprise Software
- Which tool do you use to create a landing page to validate your idea/product?
- No Code iOS App Question
| Posted: 27 Sep 2020 01:35 PM PDT My team and I created a technology which turned into three software-based companies over the past 24 months. we created a small company a year before that that generated enough capital for us to focus on building out the other businesses im our extra time without taking any capital. we developed these other technologies in niche recession insulated industries Covid took place and hurt our original company which was essentially our living expenses and during covid our VC we had lined up backed out. Essentially over committing our work forces. We're at a point where the main team is working 100hrs a week but we may not have the man power to deliver on the other contracts which are very profitable long term agreements. 6fig/m profit by Q3 2021 I have drained my personal finances and credit to get this 90% completed but we might not been able to fulfill. This contract has us supporting thousands of commercial locations via national distribution company partnerships. I can't pull resources from the other company. I've never raised money at all and I'm concerned given the state of my personal finances affecting the ability to get the needed capital. Which we would need fairly quickly 30-45 days to meet the deadline. I'm unsure if we should try to take just enough to get the current contracts completed with a small buffer or maybe pursue a larger amount for a reserve runway. Does anyone have any advice or have been in a similar situation it's greatly appreciated. [link] [comments]  |
| What is the process of registering a business in your country? Posted: 27 Sep 2020 06:57 PM PDT I live in the US and the actual procedural bit of starting a company isnt too bad. You can quickly register and LLC/S-Corp or even go Sole Proprietor, pay a fee, and then you're ready to go (although you have to likely go set up business bank accounts, figure out a plan, marketing, taxes etc) So in your non-US country, what is the process like of registering a business? Is it easy? What challenges do you face getting everything set up with the government? How do you feel it compares to how we start them in the US? [link] [comments]  |
| How do I send SMS for marketing Posted: 27 Sep 2020 08:42 PM PDT How do I send SMS for marketing: I run a small news website by myself. I have multiple people working alongside me as authors, but I'm and I want to be able to send text messages as alerts to those who subscribed. For the first few months, I expect only 30-60 subscribers, but I need it to be able to scale. Another thing that is a huge plus, but not necessary is a local number. I've tried Twilio, but it's too complicated and dosnt make any sense, since I'm the only one doing it. And don't really have the budget to hire someone hundreds to do this. I'd also love any tips, pointers, concerns. I'm completely new to this (if you haven't already noticed), so I'd love some feedback. I'm concerned about price here. I really don't have a ton of budget to spend on this, so I'm trying to go cheap. Email marketing just hasn't been the best for me, and I think sms marketing will really do it. The text I'm sending out isn't really anything fancy. Just some text, and a link. I don't want it to take like a few hours to send all those texts. Some messages would be urgent alerts, so I need the texts to be able to be sent immediately, or within a few minutes. Thank you so much everyone, and sorry my lack on knowledge about this one topic. Thank you in advance for reading this and taking your time. Stay safe [link] [comments]  |
| How do I start a Tech Startup, The process is not clear to me Posted: 28 Sep 2020 01:12 AM PDT I'm a 15 yo boy from India* I have Ideas for Technology startups, I'm ready to execute them but the thing is I don't know how to do all that I mean how do I get my company registered and funded, how do I get my first 1000 customers Plz guide me to the whole process, I will be really grateful :) [link] [comments]  |
| Dual Canada/US Citizen Tax Implications Starting a Business in Canada Posted: 27 Sep 2020 06:46 AM PDT What are the tax implications from the IRS? I am a dual citizen of Canada and the US and I am looking to start a business in Canada. To avoid a huge personal tax mess, I know I need to incorporate the business. The business should still get all of Canada's CCPC small business tax credits and the SR&ED tax credits. If successful, I'm thinking the US will still tax me on the capital gains that are exempt within Canada's +$800,000 lifetime capital gains exemption. Other than that, as far as I can tell it will just be salary and capital gains reporting. Is there anything I am not considering or any huge burden I should be aware of? Please keep comments to US taxation on expats in Canada. [link] [comments]  |
| How much profit sharing for CTO - Bootstrapped company Posted: 27 Sep 2020 12:03 PM PDT [BACKGROUND] I am running a profitable company that was bootstrapped with $100k of my own money. I do not plan to sell the company and never had an exit strategy. In the early stage of the company with no traction, I've approached an all-star developer to be a part of the company and he ended up declining. Eventually, I was able to get him on board after generating traction and revenue. We settled at 10% profit sharing since he already has a full-time job and he is just working on the side. We also negotiated profit sharing increase to 20% once business reaches a certain milestone. The main reason I was focused on him was because we work really well together. I value compatibility more than anything. [CURRENT] He enhanced and implemented new features for the business under my direction. He isn't involved on the operation's side due to his full-time job so it is mostly me that wants new things added on to streamline our operations . The business is really taking off and we are now looking into decent 6 figure profit for the company. There is 2 of us so his share is not small given the time he has put into the company. [ISSUE] He now wants 30% of profit sharing due to the value he was able to bring. I do want to OK this but this one is a bit tough for me. It wasn't an idea that I presented, the product already had traction and was generating revenue. I took the risk of time and money from the beginning (I didn't get paid in the last 2 years and everything went back into the business.) I've traveled around the country to meet new potential clients, I've built a network of industry connections, etc. I know the question might be different since we are talking about profit sharing and not equity. Is 30% profit sharing too much for a CTO that is part-time? I can't quantify value or put a dollar figure to it and I factor in time spent, risk took, etc. and his share feels more than enough to be compensated while working full-time else where. I can offer him equity of the company so he can be motivated to grow the company together but it won't do him any good since I won't be selling the company. [link] [comments]  |
| Advice on next steps for web application idea Posted: 27 Sep 2020 05:42 AM PDT Hi All, I am (a non-technical) individual with an idea around a web application. The aim of the application is to allow users that have a need for continuous learning or skills development to - a)collect all sources of knowledge b) plan a learning schedule c) capture learning notes and d) help in retention of the knowledge. In my journey so far, I've done the following:
As next steps I'd like to
My questions are:
[link] [comments]  |
| Billing and User Logins for Enterprise Software Posted: 27 Sep 2020 03:45 AM PDT Please can someone let me know what the best practice is for billing users for enterprise software? And creating their accounts/login details? My target users won't be entering their personal card details on the site, as they will expect their employer to pay for their licences centrally. So imagine a company has 100 employees, and wants to purchase 50 licences at $300per user/month, with the remaining 50 users needing "view only" licences (free on my pricing strategy). I am confused as to how to take payment for the 50 licences and then set up the necessary accounts/user login details etc. Would be grateful for any advice on how best to manage this process. Thanks [link] [comments]  |
| Which tool do you use to create a landing page to validate your idea/product? Posted: 27 Sep 2020 06:35 AM PDT I would like to undertsand which are best tools to create in a quick way a landing page to validate your product/idea. The most important features for me would be:
Which tool would you advice me? [link] [comments]  |
| Posted: 27 Sep 2020 09:33 AM PDT I have no engineering background. Let's say i wanted to create an iOS app in the social networking space. The app would have some unique, non-boiler plate features. Would it be possible to do this using a no code tool and if so which one(s)? Or is the tech not there yet? [link] [comments]  |
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