Startups Fundraising Thursdays - A Forum to Ask About Fundraising, Investors, Accelerators, and Other Sources of Capital |
- Fundraising Thursdays - A Forum to Ask About Fundraising, Investors, Accelerators, and Other Sources of Capital
- Scaling an engineering team
- CEO’s email to a toxic board member
- Joining an early-stage startup
- Anatomy of a venture capital pitch
- 51% at seed stage
- Anybody have any recommendations for Audible books to help walk me through the Startup process?
- How would this idea generate profit? What's the best business model?
- How far can you go as a solo founder building a network based product
- We run a food delivery platform but merchants aren't really bringing current customers onboard, they are just waiting for new customers.
- Tell employees about investor meetings/accelerator applications?
- "Have you seen?" panic attack support group
- Everyone tells you to start a business that is uniqe or to start in a micro-niche.
- What are the best examples you can think of startups/businesses that gained a competitive advantage and/or generated disruption by having an innovative business model? Also, what made their business model innovative?
- How to get edutech into schools
- How would you plan to grow an MVP for a mobile app?
- Which skills to build
- Any tips for someone working on their first startup?
- What's the best way to approach a developer about a tech-cofounder role?
- Instagram Analytics Platform
- First 6 steps of building a brand identity
- How do you usually work with freelancers/agencies?
- Credit Card Processors with No Monthly Fee
- Stock option questions (from a dummy on this subject) - Any help appreciated!
| Posted: 15 Oct 2020 06:06 AM PDT Welcome to this week's Fundraising Thursdays Thread. Ask about anything related to fundraising, investors, accelerators, grants, and other sources of capital. That includes how to find these sources, how to work with them, and how to negotiate with them. 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: 15 Oct 2020 12:55 PM PDT I had joined this growing startup as a CTO. I had been introduced to a 60 member engineering team where most of them are developers and doesn't have any managers. The 60 member teams are split into pods who work on different product vertical. Earlier the 60 member team was managed by ceo itself ( who is a tech guy). But later hired me to handle the team. How do I go about this? I have been observing the team and found the following issues
Questions
I have never managed team of this scale and this is new challenge. Looking out for expert advises :) [link] [comments]  |
| CEO’s email to a toxic board member Posted: 16 Oct 2020 12:45 AM PDT It's heartbreaking to see this happen. An obviously it happens way much more then we know of. Credits to the CEO for the clarity and politeness of expression. And I feel sorry for him for writing this long email to someone who would not care. However this depth gives all of us a good understanding of what sometimes comes with 'just money'. https://docs.google.com/document/d/17tEc9ETL4tjfTmNbpwJJ5OSx1c4j10ZBgeYXWGzO30Y/mobilebasic [link] [comments]  |
| Joining an early-stage startup Posted: 15 Oct 2020 10:45 PM PDT I was approached by the founder of an early-stage startup today. It was incorporated 2 years ago and has close to 10 employees working there as per LinkedIn data. The start-up is in the analytics space, the kind of work Fractal Analytics does. The company website doesn't mention any clients that they have. The one thing noteworthy was that they said they were Microsoft Gold partners, which I am not sure if it carries any weight or how to verify the same. I want to know what to look for before joining such a small startup? What are some of the red flags I should look out for? A bit about me: I am pursuing my MBA from a Tier-I B-School. In my final year and will graduate in 2021. Prior to this, I've had close to 4 years of work-ex in Product Development. [link] [comments]  |
| Anatomy of a venture capital pitch Posted: 15 Oct 2020 12:59 PM PDT Hi folks, I'm Ankur and an investor from San Francisco. People frequently ask me about VC pitches and what they are like. The truth is, every VC is different, but I share my framework that I've used in evaluating hundreds (if not thousands) of pitches and that was loosely cribbed from my own experience having raised over $11m in VC money:
By and large, raising money is a numbers game. Most founders have to pitch at least 40-50 investors to get the ball rolling on their rounds. This is normal! Keep your head up. [link] [comments]  |
| Posted: 15 Oct 2020 03:24 AM PDT We are having a bit of dilemma with our potential investor. He is asking for 51% equity considering our startup still an idea (prototype). He keeps saying 'I'm putting my money in an idea could be worthless a year from now' giving the fact that we can't start this project without the funds he is willing to invest. Would you do it? If yes, what corporate structure would you propose? Do you agree that a ' No deal better than a bad deal'? Cheers, ————————————— *Update: Our startup is On-demand SaaS and this post was based on two experiences with two investors which are far from the VC scene. The first is just a dude with cash, the second more of a family business investment company. [link] [comments]  |
| Anybody have any recommendations for Audible books to help walk me through the Startup process? Posted: 15 Oct 2020 08:20 AM PDT A little background: I have 15 years+ managing businesses (not my own). Startups are completely new to me. I have what I believe is a great "blue ocean" idea that I think I could execute well if I had the right partner(s). I just simply have no idea where to get started. I know I can read blogs, watch YouTube videos, etc. I plan to do so. But one of my favorite ways to gain knowledge is through audiobooks. I listen to at least two books on Audible per month, usually business related. Does anybody have any recommendations for any startup-related books on Audible? I have, of course, searched Audible for the term "Start up." There are lots of results. After reading reviews, I'm not sure which books is for me. Many of them say things like "This book is great if you already have VC backing.." or "Great if you already have million-dollar budgets." I'm looking for a book that helps me take an idea into something that eventually becomes an actual product. I'm specifically asking for Audible books, but if you have any other great resources that you think are essential, feel free to share. Thanks! [link] [comments]  |
| How would this idea generate profit? What's the best business model? Posted: 15 Oct 2020 09:01 PM PDT I want to start a marketplace connecting DTC brands with Airbnbs, hotels for product placement. The goal is to increase brand awareness and sales + help hotels, Airbnbs discover cool new products and possibly place large sum orders later on. Initially, the brand will send over free samples, collect feedback/offer a special discount link for purchase. Questions How to monetize this? Do hotels/Airbnbs get paid upfront or just if they generate sales? [link] [comments]  |
| How far can you go as a solo founder building a network based product Posted: 15 Oct 2020 03:13 PM PDT I am building a network based product (not a social network), and have decent programming skills. I am planning to release the apps (web + iOS + android ) by feb next year. A lot of people have been posting here about raising money, which i think is a huge emotional + energy drain. Assuming i have enough time (+3 years not a problem, i have pretty strong conviction) / reasonable cloud bills paid (upto $20000 AWS), what's the maximum users one can manage through bootstrapping without charging the users and without building a team ? In other words when does the technical complexity of the system becomes overwhelming for a solo reasonably good engineer. [link] [comments]  |
| Posted: 15 Oct 2020 10:29 PM PDT We have a lot of interest and merchants are excited to use our platform however as the title mentions they aren't really bringing their current customers on to the platform, instead it appears they are waiting to get new customers. We believe this is likely because of our 20% commission and/or some merchants pricing higher on the platform to account for our commission which causes their current customers to stay away as their pricing is lower if ordered elsewhere. We have interviewed a number of merchants who say they will bring their customers on but fail to do so. The benefits of using our platform are: 1st month commission free, cheaper delivery than other services, better customer support (compared to the big players in the field) Would like to hear input from the community about what we can do to get merchants to bring on all their customers or fixing the onboarding process if necessary? Thank you [link] [comments]  |
| Tell employees about investor meetings/accelerator applications? Posted: 15 Oct 2020 09:31 PM PDT Should I tell employees I'm applying to accelerators and about to start pitching investors? Currently a team of 10. Not raising because we're going to die, runway is 2 years+ at our current rate. I think I should only tell them if we make it to an accelerator or if we have a signed term sheet. If I tell them now and nothing happens they may get demotivated and lose momentum. Thoughts? [link] [comments]  |
| "Have you seen?" panic attack support group Posted: 15 Oct 2020 11:53 AM PDT On a call with potentially big Client: "Have you seen [competitive product you've never heard of]?" Me, while Googling anxiously: "eh, no, I don't think I know that one" oh shit their site is so good and I should know about this and oh FUCK they're so cheap SHIT we're dead Client: "oh, OK, I saw them and thought it seemed similar to what you guys do" Me, dying inside: "it's, ehh, similar, but we're more of a [bullshit to buy time]" Client: "Cool. Where are we with XYZ?" Me, trying to hide my sudden onset PTSD: "I expect it this week!" (rest of day spent between reliving the panic attack and the usual frantic work) [link] [comments]  |
| Everyone tells you to start a business that is uniqe or to start in a micro-niche. Posted: 15 Oct 2020 07:53 AM PDT For disclosure I am in the early stage of my interest in business. I am 17 in senior year hs. I've read a few books in the last year and learned an insane amount. Not only from books but from podcasts and forums. I tried to start an online shop in february, got quite into it, but realised i needed more money and stopped, because my parents were funding my "adventure". That's just for backround. I really liked Peter Thiel's Zero to One and I guess many of you like it too. As i learned more I realized how many people are interested in this topic. I wonder, how many micro-markets are there? Is it infinite? Peter said that try to create a monopoly. If there are hundreds of thousands of entrepreneurs. Each one trying to create the next big thing, trying to stand out and trying to create a monopoly, what are the chances that the majority of them will? What if every entrepreneur tries to follow this path? How should I stand out then? Sorry if my questions aren't very clear, my main language is not English and I am bad at expressing myself. I accept any kind of advice. Thanks! [link] [comments]  |
| Posted: 15 Oct 2020 02:34 PM PDT This is considering a business model as the way in which a business creates, delivers and captures value. Some examples that come to mind are Dollar Shave Club, Lambda School, Uber, Netflix, Standard Oil, Peloton and Southwest Airlines. There are a lot more of them and it would be interesting to identify different examples from different eras. [link] [comments]  |
| How to get edutech into schools Posted: 15 Oct 2020 05:12 PM PDT I was just wondering how do i start getting schools to use my application. Like how and who do I reach out to to potentially integrate the application into their school. I've tried to look it up but have yet to find an answer. Also at what stage of the application is it fit to be in schools? [link] [comments]  |
| How would you plan to grow an MVP for a mobile app? Posted: 15 Oct 2020 05:06 AM PDT I am close to launching my first version of our app. It is designed in the area of short videos and educating people in the world of fiinance. It is a simple app for the idea but we are using YouTube for storage. For other founders that have built a mobile app MVP, what was your story like? How did you manage to grow and market especially when consumers are demanding more from developers? Is choosing to remain in beta a good thing from the start? Or should we release the app directly to the public? Thanks for those who choose to answer! I would love to hear all your experiences and thoughts! [link] [comments]  |
| Posted: 15 Oct 2020 03:30 PM PDT Hi! Previously I've worked as an IT-Consultant for almost a decade. The 3 last years I've worked as a full stack developer, two of which I've had CEO responsibilities in our small web development agency (3-4 employees). Currently I'm studying service design part time. I also have some basic graphic design skills. My goal is to some day bootstrap a successful SaaS company. Which skill(s) should I focus on to increase chance of success? I feel like I might be spreading myself too thin, even though I like being a Swiss Army knife. [link] [comments]  |
| Any tips for someone working on their first startup? Posted: 15 Oct 2020 10:10 AM PDT I currently just started working on my first ever startup, and I started the market research phase, I was wondering if anybody who has created a startup before has any tips or advice. It doesn't have to pertain to anything specifically. Just any tips or advice in general is good. Thanks :) [link] [comments]  |
| What's the best way to approach a developer about a tech-cofounder role? Posted: 15 Oct 2020 01:30 PM PDT Hi Everyone, Non-technical founder here– I have a business that has been picking up decent traction, solid SEO growth, and is making a good amount of sales. I built the proof of concept myself (learned some basics of coding) and with the help of some hired developers. We are growing day by day and I am on the mission to find a tech-cofounder. I am wondering if you all might have any tips for a non-technical founder and how to approach developers about a tech-cofounder role? It's obviously a lot to ask someone to hop aboard a company that can only offer sweat equity until a potential investment lands, so I am hoping to see it through the eyes of developers so I can start off on the right foot. When I test the waters for someone's interest after a bit of light conversation - I usually share my tech-stack, amount of equity I can offer, hours I'd like a tech-cofounder to work, and I do not rush anyone into signing anything. I have had a decent amount of interviews and some candidates that have wanted to move forward, but nothing has really stuck yet. These interviews were mostly found via Founderslist, LinkedIn, Reddit, etc. To reiterate - I am just looking to come off in a genuine manner and to not just get lost in the crowd of another solo-founder approaching developers that most likely get messaged about things like this every day. Any advice is appreciated. Thank you! [link] [comments]  |
| Posted: 15 Oct 2020 03:17 AM PDT Hello! I will soon launch my application, which is a powerful tool for analysing the audience, the posts and see the potential of business instagram accounts. The launch will be on ProductHunt and we want to grow our community as much as we can before the launch, so we can get some upvotes there. We currently have a few accounts which have early access on platform. What channels do you know to advertise our solution, and also some communities where we can get some early adopters? Any other tips are welcomed, thank you! :) [link] [comments]  |
| First 6 steps of building a brand identity Posted: 15 Oct 2020 10:26 AM PDT An interesting post on what to start with while working on brand identity: Step 1. Identify Brand Heart. Name, logo, pictures, and even videos are material markers. As long as the product does not have a history that ties everything together, these markers are empty. Step 2. Identify Brand Messaging. All these points help greatly to feel the brand, find its features, flaws, "wrinkles" and present it to people through design or content. Step 3. Identify Your Key Customer. For whom everything is planned? Make a detailed portrait of them, because the more specific you describe your person, the easier it will be to understand how to enter their world with your offer. Step 4. Identify Your Competitors. You need to understand how your competitors work and find your benefits in comparison to them and to highlight them. Step 5. Design Your Individual Elements. By this time, you have a ton of information to start the identity creation. At this stage, you want to take that text-based information and translate it into visual concepts. Step 6. Build Your Brand Style Guide. The only thing more heartbreaking than a poorly designed brand identity is a beautifully designed identity that is never used or used incorrectly. A brand style guide is the finish line of this process. Founders, do you care about the brand identity? What do you personally start with? [link] [comments]  |
| How do you usually work with freelancers/agencies? Posted: 15 Oct 2020 09:55 AM PDT Hi, We are in the process of building a project, and we'd like to work with 1-2 freelancers (mainly designers). We'd like to understand how do you usually work with freelancers/agencies?. What are your best platforms? and what are the measures you take when you work freelancers/agencies (who are obviously not part of a team) e.g. NDA? [link] [comments]  |
| Credit Card Processors with No Monthly Fee Posted: 15 Oct 2020 09:02 AM PDT Hey all, We are just about to launch our website and are trying to get all our ducks in a row. It is 100% online subscription service for companies to post their prices in our industry. I imagine nearly 100% will want to pay with credit card. At the beginning I imagine that subscribers will be relatively low... something like $20 per month with less than 100 subscribers - probably more like 20-50 at the very beginning. (This is an MVP). I have reached out to a number or credit card processors and all of them seem to have monthly fees on top of the transaction fees. With the low volume of transaction and low dollar amount, their take would be just crazy. Charging $1000 would result in an effective rate of something like 7% - which is crazy! It seems that everyone who doesn't have monthly fees (and some that do) doesn't want to touch a subscription payment model because they can't get underwriting or risk of chargebacks is higher, etc. I really don't want to piss away 7% at the beginning because my volumes are low, I would rather pay a higher per transaction fee with no monthly fee. I don't even need any equipment (I don't think, I have zero experience in credit card transactions and vendors). Does such a unicorn exist? Obviously when my volumes get higher, I can rethink the math - but I am very surprised at the lack of options. HELP! [link] [comments]  |
| Stock option questions (from a dummy on this subject) - Any help appreciated! Posted: 15 Oct 2020 05:59 AM PDT So full disclosure, creative professional here. I'm very naive on how options work. Most of my background is mostly working in design/ad agencies. However, I've been the creative director at a startup for the last 2 years though never received options (they're large/late stage and options simply weren't on the table). Fast forward to now, I'm job hunting and have a few startups who are significantly smaller/early stage. Similar roles they're hiring for essentially, in house creative director. Their packages include options. No idea what the fine print or offer is yet as I'm still going through final interview process with the startups, but want to quickly do my homework so I'm prepared. So I'm hoping to get a little information on what I should be looking for or just insights on how this stuff works? I've dug around the web/sub and found a few good conversations around this. But still find myself very confused with it all. Percentages for the options, vesting period, I understand you have to buy out your options once they vest (it sounds like), etc. Hoping to get some insights or pointed in the right direction to better educate myself on this subject. All this to say I also understand most startups just flop and the options become useless. I just want to be prepared in the event that I receive offers from any of the companies. Sorry for the long post and thanks in advance for any help! [link] [comments]  |
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