Startups Feedback Fridays - A Friendly Feedback Exchange For Ideas and Products |
- Feedback Fridays - A Friendly Feedback Exchange For Ideas and Products
- Self funded startup with 70k monthly revenue, seeking advice on getting funding. Private investor, seed, VC or capital loan? Or just keep funding it ourselves?
- Financial Projections in decks
- Want to start a retail computer shop, need advice for a to z.
- Do you get that sinking feeling when you see another startup doing what you're doing - this is normal right?
- HELP! Referral program tools for funnel jump from marketing to webapp domain
- How to start contacting investors?
- Covid-era cofounder finding?
- What is a typical ratio of VC valuation to 409A valuation for a tech startup?
- Leaving a Startup
- Using reddit without it being spam
- Accepting Multiple Currencies and Transferwise (UK BASED)
- Looking for assistance
- Advice: Should I take VP role at a bootstrap startup
- Early Users for subscription B2C product
- Go it alone, or find others?
- Where do you find LinkedIn influencers?
- Does an ideation of a solution count as intellectual property?
- Can I call myself founder/CEO even if I am officially not?
- Best Practice Accepting Multiple Currencies?
- Anybody with experience generating user reviews?
- Looking to create a part-time in a startup
| Feedback Fridays - A Friendly Feedback Exchange For Ideas and Products Posted: 23 Oct 2020 06:07 AM PDT Welcome to this week's Feedback Thread. This is the place to request feedback on your ideas and products. Be sure to give feedback if you are requesting feedback. Equivalent exchange goes a long way towards reaching your own goals and it makes for a stronger community. Please use the following format:URL: Purpose of Startup: Technologies Used: Feedback Requested: Additional Comments: Post your site along with your stack and technologies used and receive feedback from the community. Please refrain from just posting a link and instead give us a bit of a background about your creation. Feel free to request general feedback or specific feedback in a certain area like user experience, usability, design, or code review. You can also find more support using instant chat on the /r/startups discord. [link] [comments]  |
| Posted: 23 Oct 2020 11:25 AM PDT I started an ecommerce shop on Shopify around 6 months ago, we have a very strong team (basically all co-founders work) and have been making 5 digits revenue since the first month. We own the inventory and do fulfillment in-house, over 1000 SKUs. Our average revenue for the last months has been $70k a month. We're putting every profit back into the company as we're growing so rapidly. We haven't actually put any of our own money into the company, everything is paid off with the profits, the issue is that we aren't taking anything for ourselves, no salaries, as that would hurt our ability to expand. Black Friday is coming up, so we've been investing heavily. I know that being profitable from the start is a blessing, but after 6 months, with the pandemic and everything, personal savings are running low, and we need to actually start getting something out of the company at some point. So we started talking about taking in funding from investors. We have a private investor interested in investing, but we're asking ourselves if that's the best option, or if we should seek out a seed investor or VC. We also were offered a $100k loan from Shopify Capital at 8.99% APR, the principal is 17% of the revenue generated by the shop. Could some of you shed some advice on this, or recommend some reading material? [link] [comments]  |
| Financial Projections in decks Posted: 23 Oct 2020 05:30 PM PDT Is it normal, having financial projections in a FIRST TIME deck, barely any traction, raising a 100kish pre seed round. I think it's absurd to have any sort of financial projection, exit strategy, return % etc. From what i've read and experienced myself, startups are so unpredictable, there is no way u can make solid financial projections until like late seed/series A. I've seen some people include it, I think it's not necessary but what do I know, anyone have any insight? edit: maybe i'm bias cause I don't particularly love accounting/finance but I really should start to adopt basic finance principles [link] [comments]  |
| Want to start a retail computer shop, need advice for a to z. Posted: 23 Oct 2020 09:00 PM PDT I'm from India, after college I used to work in industries, but since covid happened lost job and tried alot to get back job but they are not hiring since very less production. So want to start Retail Computer Shop. I have computer knowledge but no business knowledge. [link] [comments]  |
| Posted: 23 Oct 2020 07:37 AM PDT The industry I'm building in is becoming quite trendy, and I've seen a bunch of early stage competitors researching on reddit lately. I'm wondering if it's common to get a sinking feeling/minor anxiety when you see others doing what you're doing? Is it fair argument to say... the ones who build the best product, the fastest will win out? I try to use this feeling to just keep pushing me on [link] [comments]  |
| HELP! Referral program tools for funnel jump from marketing to webapp domain Posted: 23 Oct 2020 10:08 PM PDT We're a marketplace startup that has our marketing site hosted at: ourcompanyname.com and our webapp on app.ourcompanyname.com We'd like to setup a refferal program so that users can share a link and their friends, colleges, family, etc. can follow the link to our marketing site. The tools I've looked at seem to register who reffered the new lead such that even if they navigate away, upon their return the registration will be attributed to the original refferer. That's great, however the registration page for our application resides at app.ourcompanyname.com/register Has anyone encountered this problem? After a user has perused our marketing site how did you ensure that that a signup on a different domain was still attributed to the original refferer. Thanks in advance [link] [comments]  |
| How to start contacting investors? Posted: 23 Oct 2020 11:06 AM PDT Hi all - I'm building an app with my brother and while our team is continuing the build, we are working on the pitch and marketing materials. The past few months little by little we have seen news of come of people in our space doing something similar, but not what we are trying to do, getting seed and series A rounds of $1-5MM. We have made note of who the investors are when they are named in these articles... but we have a different hurdle we are more concerned about - how do we even go about trying to get a meeting with these people/firms? Any advance is appreciated! [link] [comments]  |
| Posted: 23 Oct 2020 06:05 PM PDT So I've been working on an IOT project for a long time, and I was meeting some good people in a meetup group. That has, of course, died out and now that I'm at the phase of beta testing, I'm looking to fill in some critical gaps in my skillset. Are there any quality places to find cofounders online? [link] [comments]  |
| What is a typical ratio of VC valuation to 409A valuation for a tech startup? Posted: 23 Oct 2020 05:51 PM PDT The startup in question has a FMV (and ESOP exercise price) of about $2 and a VC valuation based share price of about $10. Is this good? If it matters, it's a post series B B2B2C tech startup with a valuation of around $150M. I'm not sure if there even are any typical ratios or what their impact is, so please answer for this specific scenario if there aren't. [link] [comments]  |
| Posted: 23 Oct 2020 10:47 AM PDT I started working part time with a new startup who already has an mvp and is trying to raise money. Once the raise is complete I'm supposed to join full time. Now after a couple of weeks being part time I've lost faith in the idea, and how it may grow. How do I quit given that the raise may depend on an engineer like me being in the team. I want the company to grow, I just don't think is worth my time. [link] [comments]  |
| Using reddit without it being spam Posted: 23 Oct 2020 10:41 AM PDT I'll be on groups within my niche to gather info about the community I built something for. I'll read the rules. You should try to start a conversation and there's a 9:1 ratio you should maintain (meaning your site link should not be what the post is about). An example: on the Books subreddit, I try to ask people what books I should add next, I followed the rules, mentioned my site at the end. I had up-votes and a conversation about books going...it gets taken down. My link was more of an after-thought. The entire post was what are your favorite old books. Then I said why I want to know... How are you all talking to people to learn more within your niche when the threshold for "spam" is what it is??? I went on FreeBooks to offer FREE BOOKS, and that got taken down. Even in startups I said what my biz is (in a comment) and it got pulled down. Can we talk about our startup on Reddit. Or...just have conversations and never qualify who we are or what we built? I'm just trying to say "hey - on a side note - here is something your community would allegedly support" [link] [comments]  |
| Accepting Multiple Currencies and Transferwise (UK BASED) Posted: 23 Oct 2020 04:36 PM PDT Hi All Hope you are well. I'm UK based and am looking at offering in app purchases on the Google Play and Apple app stores as well as possible having a website whereby my payment processor would be Stripe. With the app stores, I would be setting users to be able to pay in their local currency. Each app store then pays out in the currency of your domestic bank account i.e. for me UK GBP. My first question is, am I able to set up my respective app stores developer/merchant accounts to Transferwise account which accepts four different currencies and therefore in theory I could accept the respective different currencies and then transfer out to bank account and the likely more favourable rates that Transferwise seems to offer. The alternative seems to be accept the exchange rate the app stores use and has anybody seen any negative effect of this or had to adjust prices to account for it? Alternatively does anybody use a multiple currency business account instead of Transferwise - I'm guessing this has less favourable exchange rates? My second question is essentially the same but in respect to connecting Transferwise with Stripe - is this a better way to manage multiple currencies than having payments from Stripe go in to my bank and having the bank do the exchange rate or equally accepting the exchange rate used by Stripe? Appreciate any advice you can offer :) [link] [comments]  |
| Posted: 23 Oct 2020 12:26 PM PDT Hi all! I'm working on an early stage idea for a niche group of salespeople; weve talked to a number of potential users and I think we're zeroing in on a possible solution set using a mobile app. The next step seems to be to build a wireframe, get it in their hands, and ask opinions/see what they use or care about, and so on. However...I haven't built a wireframe before! Are there any tools you've used before, or have you hired someone to build a wireframe? Any advice, things to watch out for? Thank you in advance! [link] [comments]  |
| Advice: Should I take VP role at a bootstrap startup Posted: 23 Oct 2020 03:51 PM PDT I am passionate about emerging markets and worked for unicorn global startup. However I am trying to leave that company for a senior position at a start up with funding or even a VC firm (ideal). I was offered a VP position for a company that is currently bootstrap and I want to test myself to see if I can be key in taking the company to the next level and raise funds. Would this be negative shot on my CV? I will probably give them a year*max* then move to the next opportunity. I just don't know if I should leave my big name company for a no name one....or play it safe and go to a company that already has funding and VC backing... Thoughts, suggestions, thanks! [link] [comments]  |
| Early Users for subscription B2C product Posted: 23 Oct 2020 09:22 AM PDT Hey!! I've launched a new subscription service but it's hard to get feedback as it's hard to find testers. Any advice here? I've tried the usual stuff to find beta testers (friends/family + reddit + twitter) but without spending money, it seems difficult. In particular, and maybe I'm overthinking, but I'm getting conflicting feedback which makes me feel the whole premise of what I'm doing is wrong, though, there are others in this space who are doing well. So, that makes me think I need more data points (and testers) to improve. Any advice welcome! [link] [comments]  |
| Posted: 23 Oct 2020 09:10 AM PDT Hi everyone, a little background on me, I'm in my mid 20s and have a stable job in engineering, hydraulic motion control to be specific. I also recently found sourcing product from US manufacturers to be extremely difficult and time consuming, for me it was corrugated boxes and packing. In my spare time I built a tool that lists every corrugated manufacturer in the US with images, description, location and contact information. I've saved myself a great deal of time using what I've found. I love the idea, I'd like to share it with others, and expand to other US industries. I've been devoting lots of time to diving deeper into the application, talking to manufacturers, and to buyers. I've got a lot of very positive feedback and would like to take this idea and MVP and build it into a business. In your experience have you found it better to keep at things like this alone? Or have you found it better to start building a team of co-founders? Thank you for any and all advice! [link] [comments]  |
| Where do you find LinkedIn influencers? Posted: 23 Oct 2020 12:52 PM PDT Hello Everyone, I've found several places to find influencers on Instagram, Twitter, and Youtube. However, I can't seem to find anything for LinkedIn. Do you know of any source which lists Profile - No of Followers - What do they post most about on LinkedIn ? Thank you! If there isn't one, this would be a good idea for someone to build. There are multiple influencer directories for other social apps but none for LinkedIn :) [link] [comments]  |
| Does an ideation of a solution count as intellectual property? Posted: 23 Oct 2020 06:22 AM PDT I recently left a startup I cofounded because of severe team incompatabilities, and I created a new company that's working on the same project. However, my former founders have come and said I can't do that because I'm taking their intellectual property. We did actually sign an IP agreement before we started, so that might be an issue. The thing is though, we don't have a product yet. All we've done was identify a problem and ideate a solution, including business strategy/designs/etc. However, we haven't actually "built" anything yet. Also to complicate things, all the business strategy/design/other stuff we ideated together is already public, as it was disclosed at a pitch night. Do they reasonably have a claim to IP or can I just tell them to piss off? I'm also worried about getting sued if my start-up turns successful, so would it be worth signing an agreement with them saying that we can do whatever we want with the "IP" that's already public? [link] [comments]  |
| Can I call myself founder/CEO even if I am officially not? Posted: 23 Oct 2020 11:15 AM PDT Hey folks, I am running a company, which is officially not registered under my name for legal reasons. I just came with a whole idea and I am the one who actually solves everything although the owner is officially my girlfriend. Which means I usually act on her behalf in all communication. Yes, it sounds weird but it is what it is. All people who have been working on our project with us know the truth and are totally okay with it. The question is: How should I call myself and my girlfriend on business cards so it will look good and won't cause any legal issues? I guess I should not use "CEO", as I am officially not CEO. How about "founder"? I read the term "founder" is connected more with developing a company and its history so when I call myself founder, it does not necessarily mean that my name has ever been officially connected with the company. Am I right? Should I use a co-founder for both of us or what would you recommend? Any help will be appreciated. Thanks a lot! [link] [comments]  |
| Best Practice Accepting Multiple Currencies? Posted: 23 Oct 2020 06:13 AM PDT Hi All Hope everyone is well. Just looking at PlayStore guidelines regarding sale of apps in other currencies. For example I am in the UK and would intend to sell my app in the US too, therefore users in the US would pay in $. The PlayStore would then convert this into £ when paying into the company domestic account in the UK. My question is, am I exposed then to potential fluctuations in the currency exchange rates? Albeit perhaps not huge fluctuations but nonetheless? Should I be having multiple accounts one in the UK for £ and UK users and one in the US for $ and US users? Is there certain banks/accounts which have specific multiple currency accounts for startups? Appreciate any advice anyone can offer :) [link] [comments]  |
| Anybody with experience generating user reviews? Posted: 23 Oct 2020 09:31 AM PDT Anybody with experience in capturing reviews from users? Hello all! I'm building a site to capture apartment reviews from current and past renters. Review submissions were strong at the beginning, and have suddenly dropped off. I'm trying to think of ways to get review submissions coming in at a steady pace, without working directly with leasing offices. Most of my competitors DO work with leasing offices to help capture apartment reviews, but I see this as a last resort method (and not a viable option yet, because we're still in infancy). I've done fliers, Facebook posts to relevant groups, and run some cheap google ads. The interesting thing is that people seem to get behind the site with likes and clicks, but they're not converting. Some raise issues around privacy and I've taken that feedback and have tweaked the review submissions process, still very low conversions. Any ideas? Thanks! [link] [comments]  |
| Looking to create a part-time in a startup Posted: 23 Oct 2020 07:01 AM PDT Hi guys, I am an indie mobile developer. I have experience in native mobile development, mobile design, and App store optimization (SEO for apps). I also have some other skills that are probably helpful for a startup. I need a part-time job. I see zero to few openings for any of the above roles in a part-time position. Are there anyways I can pitch my skills to a mobile startup? How can I create a part-time position working in a mobile startup? I have been freelancing, but I am very bad at lead generation. Thanks for your time [link] [comments]  |
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