Startups Independent Contractor working for equity / vesting schedule advice |
- Independent Contractor working for equity / vesting schedule advice
- 2020: Reflections > Learnings > Guiding Principles
- Chemist looking to launch skincare line in the US. Where should I manufacture? Need some help.
- When should we pivot our startup? (any thoughts on how best to?)
- I'm a classically trained singer looking to independently make my own cds and guidebook. Hopefully this is still considered start up
- Mentorship and sponsorship program for great individuals that want to build an impact-driven startup (Europe based, bachelor's degree preferred)
- Is this the general process I should be following when trying to build a software business?
- Day1 : WIIFM( #1 mistake business make online)
- New startup close to MVP but one of our engineers is unable to meet his responsibilities. Any tips for finding engineers to join an early stage startup?
- Clothing brand advice
- How do retail startups manage products?
- How long is too long to launch?
- Startup - Legal threats from website user
- Am I too perfect or just too poor to find problems worth solving?
- How to handle resource/capacity management for less than 10 engineers
- Where do startups find outsourced products, straight from the manufacturer?
- At my workplace we have a Skype group for the devs where someone posts "restart dev?" 20 times a day in order to notify others of their intention to restart the server. There's gotta be a better way!
- Manufacturing overseas
- Founder and Cofounder Startup Ownership Split
- How Much Equity should I give My First 2 Investors?
| Independent Contractor working for equity / vesting schedule advice Posted: 06 Dec 2020 11:30 AM PST Hello, I've been working as a software engineer at an early stage start up in the US, they have been paying me but the founders would like to include some equity for me as well. They have really enjoyed my contributions (my area of expertise is not covered by the 2 founders), and would like to have me invested in the long term of the project. I think the project is very cool and has potential in the near future. They have suggested for me to have equity that would vest over 2 years with a 1 year cliff, receiving 50% of my stock after year 1, and 1/12 a month after the first year. They said they are up for other suggestions on how this would work. However, I am not an employee of the company and I am technically hired to build out small parts of their product on ~2/3 months contracts. They have continued to bring me back after each contract has "expired" or deliverable has been finished. I would like to stay a contractor because I have another well paying job, and this allows me to do both. *EDIT*: They have spoken to me about full time employment, however my status would stay as a contractor, and would not be moved to an employee status. So if I was to join full time at some undisclosed point in the future, I would still be a contractor, which my concerns around vesting would still stay. My question is: how can my equity vest of a 2 year schedule if my contracts are on a much shorter time basis. Would it make more sense for me to get some sort of option, or receive a small grant after finishing my work? My fear is that if I was to decided to leave before my 1 year cliff (since I am allowed to because of my status), I would lose all equity. Has anyone here extended equity to independent contractors who build out small parts of your product, and how have you structured this in the past? [link] [comments]  |
| 2020: Reflections > Learnings > Guiding Principles Posted: 07 Dec 2020 01:39 AM PST 2020 has been a 180 degree for me personally & professionally since I moved from a public equity profile to an early-stage VC profile. The two worlds are connected, yet poles apart. I believe my professional and investing career is an extension of my personal self because it is impossible to have two different faces. And it is only useful if: Reflections => Learnings => Guiding principles
Every episode in life (investing or otherwise) can be one to strengthen relationships Good episodes mean you can strengthen relationships, bad episodes mean you can fall back on relationships
There are too many people, and too few human beings
The jockey is equally, if not more, important than the horse Few times in the past year we have passed opportunities because we were not comfortable with the jockey. This reiterates #1 (Relationships > Returns) This also means that you are the jockey for someone else: They will prioritize your ethics more than your track record
Simplification might be time-consuming in the short run, but highly productive in the long run Getting your affairs in order saves precious time during emergencies (i.e. a sudden event in a portfolio company, lest we forget COVID)
Speaking is easy since you use gap fillers Writing is difficult, but highly effective if done right This always reminds me of the quote below by Marcus Cicero/Blaise Pascal (attribution unclear, messaging is loud and clear nonetheless) "If I had more time, I would have written a shorter letter."
Quote by Valerie J Coleman: "Passion without purpose leads to frustration. Purpose without passion leads to procrastination. Passion with purpose leads to success"
"True humility is not thinking less of yourself; it is thinking of yourself less." We work with people who are far brighter than we might ever aspire to be And at times, it is very easy to confuse positional power for personal power Rather have someone respect you for the person than for your position Positions can be altered, or made redundant: you can not be
"Many people look for incremental opportunities when there are compounding benefits for staying where they are" This goes for personal & professional relationships, and investments Of course, with a caveat that staying where you are should not be grossly disadvantageous to you
Choose and use wisely, or not at all
Going out on a limb here, and disagreeing with a vast majority of people who prefer Objective > Subjective. Even robots & machines can be objective Being subjective is to take into consideration your surroundings, experiences, and episodes This is where you and your learnings come into the picture I am sharing a quote on this by Heraclitus: "No man ever steps in the same river twice, for it's not the same river and he's not the same man." It is vital to let your experiences, successes, failures, and learnings shape your decisions going forward. Stagnant water becomes putrid Subjectivity embraces the grey areas in life I wrote this post originally here, along with better illustrations. I am looking forward to knowing what have my fellow redditors learned! [link] [comments]  |
| Chemist looking to launch skincare line in the US. Where should I manufacture? Need some help. Posted: 06 Dec 2020 10:21 AM PST Hi all - I'm a chemist looking to start a skincare line. I'm based in the US and have been speaking to many contract manufacturers here. I've spoken to some of the best labs in the US and this is what I've gathered: it's going to cost me about 100K-125K in total which includes R&D + manufacturing (3000 units per product), fill+pack, warehouse storage and fulfillment and other costs (marketing, website, graphic designer, miscellaneous). All in all, it is the amount of cost that's expected. Question: how much cheaper will it be to manufacture in South Korea? I'm still waiting on quotes from a few manufacturers. But if anyone here has any idea about manufacturing overseas, please provide some input. What are some "hidden" costs of manufacturing overseas aside from shipping? Obviously, south korea is know for some of the best skincare innovation so I really would like to explore this idea as well. I am going to be fully self-funded so this means i have to be as lean as possible with my costs. Hence, trying to figure out what my best option would be. Would truly appreciate any insight and input! [link] [comments]  |
| When should we pivot our startup? (any thoughts on how best to?) Posted: 06 Dec 2020 05:32 PM PST Hey fellow founders. Just wondering how many of you are currently contemplating pivoting your startup/product if things aren't going too smoothly on your current path? If so, what are your mental models, frameworks, and general concerns? Also, for those who recently underwent a pivot and things are going better now (or at least looks promising), can you share your general tips/processes for how to think about this and how to approach it before/during the actual pivot? [link] [comments]  |
| Posted: 06 Dec 2020 06:42 PM PST I'm a singer and I'm looking to increase the product side of my offering. There are only so many concerts you can give due to vocal health reasons and I'm hoping I can do something unique. I was thinking about producing a cd with a specific geographic region in mind, say Latin America, then have a guide book to accompany it with the texts available in the original language, translations and a history about the composer and composition. I'd like to make folk and classical music more accessible and destigmatize it in a way as many shun music they can't understand. I heard my uni has start up mentoring but I don't know if such an idea qualifies. Any advice? Many thanks [link] [comments]  |
| Posted: 07 Dec 2020 02:01 AM PST At Ewor (you can find it on google) we are looking for talented young people for an entrepreneurship program under the mentorship of some of the best minds in business. You can apply directly on the website. If you have a question, you can ask me directly A friend of mine might have posted this already here, if so, my apologies! [link] [comments]  |
| Is this the general process I should be following when trying to build a software business? Posted: 06 Dec 2020 03:36 PM PST Hi. I've been trying to do some research on the general process of building a Saas business B2C, and this is what I seem to be coming up with. Of course this is just a general outline and I need to do more research on each step. If you have guys have any resources you can recommend, I would be grateful. Steps
small skeleton product not yet fleshed out; I can do this on my own or hire people from upwork,fvrr etc
This is basically to collect emails of people who may be interested
Here we find people interested, have them go to our landing page and let them beta test the product
or build on your own Is this the general process? Thank you so much. [link] [comments]  |
| Day1 : WIIFM( #1 mistake business make online) Posted: 06 Dec 2020 10:13 PM PST What's In It For Me (Me being your customers) You see that sentence up there,absorb it. I've read hundreds of sales pages,sales letter, product description, websites,ads,etc and most of the unsuccessful ones just talk about themselves. Things like - We are the best X, We are the best at Y, etc. {Now if you're a BIG BRAND with millions of dollars for advertising and marketing then fine... stop reading rn. You should also stop reading if you really are THE BEST at whatever you're doing( provided you show them the proof)} But for the rest of us who can't do that , you need to understand this= "People Only Care About Themselves" We are human beings and we all are very selfish. You,me,your customers,and every single person on this planet is the same. So use that selfishness to you advantage. Let me show you another example: Sales page A: - We are the best supplement company for women in California Vs Sales page B: - Californian Woman! Let us steal your fat! If you were a woman from California which one would you choose? Now Ik the second one's a bit cheeky and might not sit well with some brands. But it WORKS. And that's what matters. In a world where everyone is doing the same thing, learn to do something different. That's it for today Keep Smiling :) PS: You can steal that headline btw, I won't/can't sue anyone for that 😂 [link] [comments]  |
| Posted: 06 Dec 2020 09:17 PM PST Hi all, for some context, this is a med-tech device that is near completion (probably 2-4 weeks out from MVP if we were able to keep our current timeline), but our electrical engineer has been unable to meet his responsibilities. I would like to find another engineer to join and help out the team, but I've found it difficult to find electrical engineers that would be willing to work solely for equity. Which brings me to my specific question - has anyone had any experience soliciting engineers for an early stage startup company, and what resources did you use to find them, i.e. any online communities, blogs, freelance websites? I found that face-to-face recruitment works best but we are amidst a pandemic with no end in sight so I'm trying to adapt to using online sources. Thank you, any insight on this would be greatly appreciated! [link] [comments]  |
| Posted: 06 Dec 2020 10:53 AM PST I'm looking for some advice on creating a clothing brand. I live in a city with a large skating community and I want to start making jeans. I already have: a name, art, connections to local influencers, skate shops willing to sell products, and ideas for a first run of garments. My problem is finding the right jeans. The style pants I'm going for are baggy in the leg, but fitting in the waist and tapered towards the bottom. Any recommendations on finding sources for high quality heavyweight jeans with customizable measurements? Ideally I would stay away from large bulk batches. Putting a set of five in skate shops to see if there is any interest before investing in large quantities of blanks. [link] [comments]  |
| How do retail startups manage products? Posted: 06 Dec 2020 12:47 PM PST I guess this is a question for startups and large companies like Zara, Crate and Barrel. I am specifically interested in knowing how often do you introduce new items to customers? After how many months would you put an item in sale and remove it from your shop? Also, are there any items that are timeless/ you would sell indefinitely? If yes, how do you identify those? From sales forecasts? Thank you, [link] [comments]  |
| How long is too long to launch? Posted: 06 Dec 2020 07:12 AM PST I have been working with a buddy of mine on a staffing B2B idea for what feels like forever (9 months). We have not launched an MVP yet, I have been pushing for it recently. Problem is, I handle the front end and he does the backend so I can't really just launch the front without his input. It also does not help that we both work full time and long hours at our day jobs and only throw about 10-20hrs per week on the idea. Listening to Micheal Seibel, we should have launched months ago. How else do I get my buddy to launch whatever we have (he is a perfectionist)? Are we too late to launch? [link] [comments]  |
| Startup - Legal threats from website user Posted: 06 Dec 2020 12:23 PM PST Hi everyone - I'm wondering if anyone has dealt with issues like this and can offer some advice. We have a startup in the market research opinion sampling space. We have a user who is sending threats about a class action law suit and breach of consumer protection laws (he violated our terms of service). We have ceased communication with the user. We do carry a $1 million dollar professional liability policy with Hiscox. 1) Just wondering if there are any other types of business insurance policies that we should be carrying? 2) Has anyone else deal with this type of issues in their startup phase? [link] [comments]  |
| Am I too perfect or just too poor to find problems worth solving? Posted: 06 Dec 2020 02:59 PM PST I'm so confused here.. for weeks I have been in mental agony trying to figure what problems I have in my own life that are worth solving. Nothing, nada, 0.. I cannot come up with a single problem. Am I the only one? I'm seeing people who didn't even know what HTML was when they started, start really awesome business and solve cool ideas. Here I am, a senior full stack dev who's help plenty of startups get going.. and nothing.. not a single fucking clue. Where do I start? Where did you start? [link] [comments]  |
| How to handle resource/capacity management for less than 10 engineers Posted: 06 Dec 2020 01:46 PM PST Particularly, our project manager currently uses kanban since there isn't enough feature work ready at the time a sprint would work. Would love to get back to him with some recs because engineering is getting overloaded between feature work, bugs, and customer service requests. [link] [comments]  |
| Where do startups find outsourced products, straight from the manufacturer? Posted: 06 Dec 2020 11:15 AM PST We had an idea for an exercise system that incorporates rubberized exercise bands. Of course they're in demand now, due to covid / home workouts. Here's the thing: everything I try to search for a wholesale, straight-from-the-factory pricing, all I get are re-sellars and alibaba -type stuff. How do new businesses "get to the source" in regards to outsourcing items like this? How can you speak straight to the manufacturer, and bypass the dozen middle-men with their "hands in the cookie jar," eating up all the profits? [link] [comments]  |
| Posted: 06 Dec 2020 07:19 AM PST Any ideas of technologies to use where the devs can manage server restarts and we don't have to type "NO DON'T" on Skype if we don't want the server to restart? Was thinking some taskbar icon for everyone which shows green for dev server is up, red when it is down, maybe a popup to notify of a restart and a few minutes for people to object to a restart? [link] [comments]  |
| Posted: 06 Dec 2020 10:44 AM PST Hi all , i was thinking about starting an electronic toys business . I want to design the toys and outsource the manufacturing to factories in China or India. i don't know anything about business, my background is in computer engineering. Can anybody direct me to any blogs or any resources where i can learn about how all of that works?? Ps : Because my background is in computer engineering i know a thing or two about electronics components manufacturing my main interest know is to know how to manufacture the bodies of the toys an the assembly process. Ps 2: sorry for my bad English : ) [link] [comments]  |
| Founder and Cofounder Startup Ownership Split Posted: 06 Dec 2020 06:54 AM PST Hi there, long time lurker here 🙃. I have recently started a local app idea. Been working on it solely on developing the app for nearly 6 months and still have few things left to release the app. However, since I live in Saudi Arabia (where modern day slavery still exist) and I not a citizen, I cannot legally own a business. I need a citizen who will own it on the record, but will split/co-own it with him in private ( a practice done by many foreigners here). I had a much a lower percentage split like (80/20) in mind when I started talking to a friend (citizen) about the idea. However, he wants (50/50) split ownership. What do I do? Is his request even reasonable? [link] [comments]  |
| How Much Equity should I give My First 2 Investors? Posted: 06 Dec 2020 03:52 AM PST I have researched an industry, found an app idea that many are welling to use, designed the app wireframes and found a development agency to build it but ran out of money and could not hire them. I prefer to keep as much ownership as possible until I get good traction on this project. But, I need to finance the project to move forward fast. I'd appreciate your advice. Thanks! [link] [comments]  |
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