Startups Sent in an application for an accelerator on a whim with just an idea, and now I’m pitching in a week. |
- Sent in an application for an accelerator on a whim with just an idea, and now I’m pitching in a week.
- What are the online tools that have greatly helped you in your startup?
- Cofounders want to setup company with only 20K shares authorized
- Got accepted into a pretty solid accelerator, are these terms fair?
- How to get the first Hires
- Should we use a CRM?
- Remote Sales Team Interviews
- Before you think of hiring someone or building new tech - perfect the manual processes first.
- Is there a framework or guidance about how much proprietary company information you give to investors?
- Enterprise Sales/Business Development Framework
- How to find angel investor
- Hourly Rate For Sales / Operations consulting job at a SaaS Start-Up.
- Does anyone know any Legal Tools for Startups?
- Feeling Bogged Down in the "Idea" with Many Competitors
- How can I issue myself shares of my C-Corp?
- Cheaper ways to make an LLC in Massachusetts?
- Employee equity - shady practice or am I overthinking it?
- Examples of companies that horizontally/vertically integrate into a different space and just dominate consistently?
- Am I an "growth hire?"
- Question regarding legality
| Posted: 01 Dec 2020 09:35 PM PST (Long time lurker, first time poster) A couple weeks ago, I came up with an idea in the real estate/insurance market. Ending up applying to mainly pre-accelerators for mentorship and guidance, however, applied to some accelerators as well. Got rejected from the pre-accelerators and went back to studying for finals. To my absolute surprise, an accelerator scheduled a pitch with me for a week from now. Kicker is I have no real traction, other than an idea and a plan of action for operation. I was transparent and let them know where I was at but I still would like to put my best foot forward. Other than perfecting my pitch what else should I do to ensure I put my best foot forward? I'm thinking I should start with email sign-up collection, Facebook ads, etc and see where that gets me in a weeks time? Would love to hear any suggestions about what I should do or any resources that could help. Thanks in advance! [link] [comments]  |
| What are the online tools that have greatly helped you in your startup? Posted: 01 Dec 2020 07:27 AM PST I'll start. Github - for the actual code being written Motion and Trello - for team productivity and syncing Google Docs and Google Sheets - collaborative documents and spreadsheets Google Analytics and Hotjar - tracking the customer, improving UI/UX What would be your top choices? [link] [comments]  |
| Cofounders want to setup company with only 20K shares authorized Posted: 01 Dec 2020 05:02 PM PST My cofounders seem to agree that we should incorporate in the state that they are living in (not Delaware)(I lived out of state for the moment). While we are in agreement as to filing as a C corporation, they also seem to be of the opinion that we should authorize about 20,000 shares total. They want to do this for 'tax purposes'. Is that a thing? I was part of another startup where we filed as a C corp and issued 10M shares. It didn't seem to have any tax implications. We all signed out 83(b)'s and there were no issues. Why would someone want to only authorize 20K shares? They realize that we will need to raise some capital from investors eventually to scale, so I don't get it. [link] [comments]  |
| Got accepted into a pretty solid accelerator, are these terms fair? Posted: 01 Dec 2020 10:22 PM PST "Since we are the ones providing all the resources and support in building this new venture with you, we will take majority ownership of any company that successfully gets incorporated. However, we will provide a stake to you as a Founder should the company spin off. The program is simply the first step to building a successful company. If you are successful in building an MVP and getting initial traction, you will proceed to raise a Seed round from us. If you demonstrate solid growth within the next 6-12 months, you would be able to spin off the venture and potentially continue operating it in an executive role of the independent company, subject to board approval." Edit: I know that a small piece of a watermelon is bigger than a whole grape but does the "potentially continue operating it in an executive role" part sound like I'm getting kicked out soon? Will I be an employee in my own startup? [link] [comments]  |
| Posted: 02 Dec 2020 01:54 AM PST I have an idea for a startup but can't code! I know what technologies to use so need developers (2-3) in the field of JavaScript and Machine vision. How should I go about as I hardly have budget to bring on board people. Is offering equity only sufficient and doable? [link] [comments]  |
| Posted: 01 Dec 2020 02:16 PM PST I'm working on building an App that connects Mobile Barbers to customers on-demand essentially matches them up for a service. (We all hate to say it but in a similar way to Uber.) I and my team have been discussing whether we should or should not use a CRM before we launch. The developers have stated that they can build a DB that acts as a CRM but I think it is absolutely essential that information is easy to access and easy to understand. I come from more of a sales/marketing background so for me, I'm used to everything being organized neatly in a CRM. How did the B2C start-ups handle databases at the beginning? [link] [comments]  |
| Posted: 01 Dec 2020 08:05 PM PST Hi all, For those who manage a remote team of sales professionals, what are some of the must-ask interview questions you use to find the right talent? Looking to start a sales business and wanting to improve the screening process for hiring better reps the first time. [link] [comments]  |
| Before you think of hiring someone or building new tech - perfect the manual processes first. Posted: 01 Dec 2020 07:42 AM PST Short background: I'm an early stage tech founder in a B2B startup. Last July, my cofounder and I received two angel investments, immediately we thought we would put it to good use by hiring more people and letting some "smart" friends join the founding team. Our startup went from 2 people to 17 in ~45 days. Yes, clearly a bad idea but it wasn't apparent to us at that time. After all, More people = More work done. Right? More people ≠ More work ; More work undone = Less feedback ; Less feedback = Confused development Problems
What you ought to do
Perfect the manual processes first. [link] [comments]  |
| Posted: 01 Dec 2020 11:31 AM PST For example, if an investor owns 50% to 100% of the company then they should get access to 100% of the company's proprietary information. But what if they own a smaller percentage than 50%. Say an investor owns 49% or less of the company? How does the CEO of the company decide what proprietary information that investor gets? I imagine the answer will be much different if the investor own 49.99% verses .001% of the company. Maybe this is something that is Google-able... is there a name or jargon for this type of decision process? [link] [comments]  |
| Enterprise Sales/Business Development Framework Posted: 01 Dec 2020 07:49 PM PST I've been approached to join a startup, and my job responsibilities would be business development and engagement execution (business dev almost exclusively until contacts start [hopefully] rolling in) The startup is mainly focused on providing a SaaS solution, but can also provide SME for related professional services (ideal scenario is to leverage the SaaS solution, but can also be standalone services). A few questions:
#2 may not be very clear: My main concern is whether I'm the best fit. I have a number of years of professional services experience, so it's not that I'm completely new to selling. I'll be given a list of leads to start and have a small network I can leverage as well - but not having ever been a true sales person (e.g., prospect tracking, getting first meetings set, etc.) I don't know how difficult that is to pick up. What should I be considering/what don't I know that I don't know?! THANKS [link] [comments]  |
| Posted: 01 Dec 2020 03:39 PM PST How to get an angel investor? Is validated idea enough to get an investment? By validated I mean that a lot of companies have registered to see whats coming next (some of them are the big ones). Bootstrapping is not an option because its impossible to make such MVP from cardboard box. I just want opinions. [link] [comments]  |
| Hourly Rate For Sales / Operations consulting job at a SaaS Start-Up. Posted: 01 Dec 2020 05:03 PM PST I was contacted by a former colleague asking if I would be interested in a consulting job at their new company. The role would entail:
This is my first consulting gig so iam not sure what rate I should charge for my service. [link] [comments]  |
| Does anyone know any Legal Tools for Startups? Posted: 01 Dec 2020 12:04 PM PST Requirements: 1. shareholders agreement 2. organization & incorporation. TLDR; in need of super basic easy to understand shareholders agreement for 50/50 partners just need to get the ball rolling and can amend documents later once we make more money I am in Canada and have finished the Alpha for my app, I am past the MVP now. My cofounder and I have been working together for 12 months almost 1500 hours in now each. We trust each other a lot and Ive known him since my childhood and we remained close friends for over 10 years. I contacted 7 different legal agencies that work with startups in Canada. The cheapest quote I got was $4500 for
Now we have not launched at all yet and being students our funds are very limited. $4500 spent on marketing for my launch sounds a lot better than spending it on Legal services. Is there any Legal agencies you guys know of that may offer deferred payments where we can put a down payment and pay the rest later when we make money later ? I tried taking a look at many templates and was going to use one but they are so complicated and not knowing any legal terminology my co-founder and I dont feel comfortable signing a template we dont understand. We really tried creating our own shareholders agreement as well but theres just so many factors in place we really don't understand we spend ~50 hours trying to create our own documentation researching definitions and we got half way through and gave up because it was so complex. [link] [comments]  |
| Feeling Bogged Down in the "Idea" with Many Competitors Posted: 01 Dec 2020 03:36 PM PST Hi! Can anyone share how they've dealt with moving an idea forward in the face of many competitors? I am trying to build an ambitious company, and I'm reaching out to the best minds (who will respond LOL) for insight, but I'm feeling stuck. I'm seeing more and more companies come out of stealth in the space run by people with more experience. I'm stuck trying to find my pivot to make me unique and leverage my own personal experiences that are tbh non traditional for the space. Does anyone have tips on vetting your idea in emerging markets with lots of competitors? How do you know when you can do it better? Thank you so much! [link] [comments]  |
| How can I issue myself shares of my C-Corp? Posted: 01 Dec 2020 03:17 PM PST I founded a Delaware c-corp back in April and didn't issue myself any of the authorized shares. I want to issue myself shares now so I can use the assumed par value franchise tax method rather than having to pay $80,000+. Which form(s) do I have to file to issue myself shares? [link] [comments]  |
| Cheaper ways to make an LLC in Massachusetts? Posted: 01 Dec 2020 09:08 AM PST I'd like to organize my side hustles under a very general company. I do hire people, but always as contractors, no employees. I don't need investor money and have in intentions of ever taking a partner. Do I but the bullet and pay Massachusetts $500 formation and $500 annual fee? That's a sizable amount of money each year for a smaller business entity like me. Or do I form an LLC in New Jersey or Delaware instead? Or do I file for a corporation instead and pay only $275 plus the $125 a year fee. Crazy how having a corporation is cheaper than having an LLC in this state. [link] [comments]  |
| Employee equity - shady practice or am I overthinking it? Posted: 01 Dec 2020 09:05 AM PST Question for anyone with experience granting/receiving equity at a startup. I'm an early employee at a startup, with a fairly sizable ISO grant. When I originally joined the company, my equity grant paperwork included a PTE (post-termination exercise) clause allowing exercise for 24 months following separation. After over a year at the company, I realized I had not received final signed copies of the paperwork. When I inquired, the company lawyers shared new copies of the paperwork for me to sign. Not thinking much of it, I signed it without doing a redline comparison (like an idiot). I'm now realizing that in the new paperwork that I signed, they had changed the the PTE clause from the 24 months to 3 months. This seems...bad for me. Ultimately, this is obviously on me for not reading carefully enough. But this likely does have economic implications around what I can do with these options if I decide to leave the company. Two main questions:
[link] [comments]  |
| Posted: 01 Dec 2020 10:45 AM PST Just trying to learn and develop strategy/execution/priorities that lead companies to succeed regardless of industries for example obviously Amazon. Not just talking about tech companies either. How do they enter a market that there are already competitors in and surpass them in other aspects apart from just undeniable innovation? [link] [comments]  |
| Posted: 01 Dec 2020 09:18 AM PST Started a new position in sas sales a couple of months back. 40% commission, two month ramp up with a lower "ramp up" commission paid to float me (no sales in the first two months). But the thing is... The company has had no sales since August. Two key employees who were there since the beginning left in my first month. My concern is that the position isnt realistic at all and my hiring is a tactic to make it appear that the company is growing on course so they can attain their series A. Am I wasting my time? [link] [comments]  |
| Posted: 01 Dec 2020 07:00 AM PST I am in the process of forming a tech company, there will be 3 partners, one of which is Canadian, my question is, would the Canadian be legally allowed to work doing research and development, from Canada? Including product development? Until the product is ready, then move it down to the USA. Also, we plan on only selling the rights for manufacturers, not building and selling ourselves, should we form an llc, or a corporation? Thank you [link] [comments]  |
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