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    Home Unlabelled 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

    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

    October 18, 2020

    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

    Posted: 17 Oct 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.

    submitted by /u/AutoModerator
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    More Common VC/Investing Terms

    Posted: 17 Oct 2020 02:40 PM PDT

    Since you guys enjoyed the last time we created a common list of VC/Investing terms here is another one:

    More Common VC/Investing Terms

    1. Soft capital commitment: it's when an investor says that he/she will invest money once some milestone is hit (generally that milestone is getting the lead investor). No papers are signed at this point and those commitments are very fragile. When the COVID hit most of such commitments disappeared in an instance.
    2. Lead investor: The first investor in a funding round; can be also referred to as the anchor investor. Those are hard to find and sometimes anchor investors get better terms for additional risk they are taking.
    3. Down Round: A fundraising round in which a company raises money at a lower value than before. For example, if you raise your series A at 10 million valuation and then raise Series B at 8 million valuation - that's a down round. Horrible thing to happen with a startup and sometimes kills the company completely.
    4. Anti-dilution Clause: A contractual clause that protects investors from having their investment value reduced in future funding rounds. This clause protects investors from the down rounds - if she invested 2mil at 10mil valuation and a startup had to raise additional capital at 8mil, she will be given additional shares.
    5. Pro Rata Rights: A contractual clause that protects investors from having their stake in the company diluted. This means that investors are allowed to buy additional shares at every round of funding to maintain their stake in the company. So an early investor in Uber might maintain her 1% in the company even on the day of the IPO because of that provision (she'll spend some extra money retaining this stake of course).
    6. Bridge round/bridge loan: A round of funding or a loan that helps a company achieve a certain milestone that it couldn't achieve using money from the previous round. For example the founders have $100k in their account after their Seed round but they want to acquire additional 10k users prior to raising their Series A. That will cost additional $300k and at this point bridge rounds/loans are coming into play. Generally bridge rounds/loans are raised from existing investors.
    7. Cap Table: paper that provides data on who owns what percentage of the company, when did they join and at which value did they invest. One of the must-haves at every single round of fundraising.
    8. Management Fee: The fees that General partners of Venture funds charge their limited partners each year. VCs pay for their due diligence and sometimes provide support to the startup (such as accounting services, legal services etc.) by taking money from that management fee. If you work with a small fund, chances are they won't be able to help you with that since their management fees are small.
    9. No shop clause: A clause in a term sheet that prohibits founders from sharing the term sheet with other investors in an attempt to receive a competing offer. Rarely used in real life, but if an investor wants to sign one of those with you, run a very precise background check on the investor - that might be a sneaky move by a sketchy VC.
    10. Party Round: A round in which a startup raises multiple investments from a lot of small investors. This is becoming a new trend because "it's easier to raise 10k from 10 investors than 100k from one investor" - that statement isn't always true so you have to assess the situation yourself. We recommend party rounds for founders with large networks of industry professionals who are making $100k+/year in salaries.
    11. Washout Round: A round in which founders and previous investors get significantly diluted. The new investor in this round will most likely gain majority ownership. Basically it's like a bad version of the acquisition. Washout Rounds (similar to washout sale) happen in the situation of the company crisis - this is the last resort for a startup.
    12. Lock-up Period: A specific amount of time that must pass before someone can sell their shares in a startup. That's one of the downsides of IPOs - founders of the company frequently face 6-18 months lock-up periods and that's why some companies (like Spotify) prefer direct listing. These provisions also prevent investors in your company from running around selling your shares the next day they bought them.

    Some of these terms we got from the previous post, so if there is something you'd suggest us to include in the next article - make sure to comment what it is that you want us to cover next!

    And here is the link to our previous post on this subreddit: top 10 terms in fundraising

    submitted by /u/FundraisingRad1
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    Anyone have experience in selling homemade chocolates/candy online? If so do you have any advice on the topic?

    Posted: 18 Oct 2020 12:01 AM PDT

    This is just something I've had a personal interest in since I was a kid. Dream come true I guess. My main selling points would be (Made in Canada) and would donate a certain percentage to Canadian charities like the Calgary Food Bank etc.

    Also I would make sure to incorporate local pleasures like maple syrup, gooseberries etc.

    submitted by /u/omdesign123
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    Would love to hear your advice...

    Posted: 17 Oct 2020 06:41 PM PDT

    Back in March I created a working breadboard version of my product. Zoom ahead to today and I now have that breadboard on a printed circuit board (rev 3 of the pcb, sigh... the first two revs turned into asian paper weights, but I learned a lot in the process) with a 3d printed enclosure.

    I'm a totally rookie at this so here's what I was thinking for next steps, would love to hear your advice.

    1.) Get product in front of people. I have five working prototypes so I'm hoping to sprinkle them around town where I live.

    2.) Watch people use the product and collect feedback.

    3.) If all goes well, manufacture more and see if I can turn this into a business. To date only a hand full of people have seen the product but for each person who has seen it, it gets rave reviews so I hopeful I have a winner on my hands. :D

    This is kinda where I come off the rails. I'm an engineer at my core and the business side gets a bit lost on me. Should I incorporate, then open bank account, then pound the pavement to see if I can sell my product. Any thoughts or suggestions would be great!

    submitted by /u/caleedubya
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    Ok am trying to get an app made... how avoid scams?

    Posted: 17 Oct 2020 08:24 PM PDT

    Am already targeting the niche with other services and products. I have around 16k subscribers. my products are seasonal fan based. so fans keep coming back/ purchasing when there is something new.

    Now with covid I realized an app could serve my teen clients (the majority of my clients).

    I know exactly what I want but I never done an app before. I publish it on upwork , got so far 35 proposals. however, when I ask for their samples the apps have maybe 9 downloads only, or seem abandoned with reviews from 2, 3 years ago. in other words all the apps everyone show me seem not completed or never got any traction. However they upwork profiles have record of 100k or millions of dollars made in projects.

    So this has me confused. am not sure if they made a good app for their clients but the clients failed in the marketing or those great upwork profiles are faking all those income some how.

    How can they make so much money and show me some crappy apps?

    submitted by /u/Starlyns
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    Where do you promote your cyber moday sale?

    Posted: 17 Oct 2020 12:07 PM PDT

    Other than to your own audience on social media, email and in-app messaging. Are there any websites that list the biggest cyber monday discounts in saas? Aggregators?

    Or contacting blogs that usually post in your niche? Any suggestions would be appreciated.

    submitted by /u/Criss-Istr
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    Freelance developers

    Posted: 17 Oct 2020 12:41 PM PDT

    Hello guys.

    I have an idea for a webpage/app but have very basic programming knowledge and would like to hire a freelance developer or company to do it for me.

    Any webpage recommended to hire freelancers? Any cautions I should be aware of? Any advice?

    Thanks!

    submitted by /u/Barranco-9
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    Sunday’s Success Stories - Celebrate Your Successes From the Past Week: Anything goes, none too small!

    Posted: 17 Oct 2020 06:06 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.

    submitted by /u/AutoModerator
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    Business advice? Go alone or go for a local franchise

    Posted: 17 Oct 2020 05:07 AM PDT

    So I've been looking into self employment once I complete a uni course as it's something I've always wanted to do. I'm not sure whether I should look into going self employed and starting a business in Idk what as I've never owned one and my brother once owned a fish and chip shop and got in a lot of debt. And I obviously feel more cautious now towards jt.

    I looked into a local franchise and they do something I have experience in. They need £15k.

    I don't know what I should do as business isn't something anyone I know knows about. Please help. Thankyou

    submitted by /u/Nice_Cauliflower_507
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    What is the best card program that supports issuing cards to non-us citizens

    Posted: 17 Oct 2020 04:46 AM PDT

    I want to build a small platform for an emerging market to be able to generate a virtual card for online purchases. I am thing about using Stripe Issuing or Marqeta but I am not sure if they support platforms to issue cards outside of US. Note: I have an US incorporated company.

    submitted by /u/herberz
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    What platforms do you guys use to build your community?

    Posted: 17 Oct 2020 02:34 AM PDT

    Hi guys, we got a lot of traction with our food / nutrition business and we want to use a platform to create a community / gather al the right information and feedback for customers. Do you have any suggestions on which channels / platforms / software we should use?

    submitted by /u/ErikVerumNutrition
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