Startups What type of work excites you? Startups vs large orgs |
- What type of work excites you? Startups vs large orgs
- No matter what business book I read, it turns out complete waste of time!
- How do startup owners make profit
- How to softly kick a friend out before incorporating our business?
- Do you have some advice for a 17 old programmer (both professional and amateur) who is about to join an early-stage start-up?
- legal terms in a chat app, how can I protect myself from malicious use of my app?
- Figuring out addressable market across the globe
- Sourcing different elements of a product from different countries - and manufacturer Qs
- Having all founders start at 5% equity
- Slow growth or 'big bang'
- Equity compensation language sounds weird. Advice?
- How do you deal with burnout? Share your tips and advice
- Advice needed
| What type of work excites you? Startups vs large orgs Posted: 09 Jan 2021 12:22 AM PST The original idea here is inspired from this line in the book Principles by Ray Dalio. "In most companies people are doing two jobs: their actual job and the job of managing others' impression of how they're doing their job." Broadly speaking, people do 3 types of work in companies. Produce: Creating artefacts to serve the company's customers. Examples: product, engineering, design, sales, support, etc. Organise: Creating the necessary structures and processes for Produce work. Examples: status updates, hiring, internal processes, resource planning, etc. Self-promote: Creating a proxy for their own competence and impact. Examples: performance reviews, 1:1s with manager or mentor, etc. These lead to the 3 key sources of conflict within a company: Politics: Self-promote work disguised as Produce or Organise work Strategy: Disagreement on the relative importance or prioritisation of Produce work Execution: Major imbalance in Produce and Organise work (too much Organise work too little Produce work or vice-versa) A company's leaders need to be able to precisely and consistently diagnose the source of major conflicts. They need to be particularly intolerant of Self-promote work that's suboptimal for the company, even if it's optimal for a given individual or team. Start-ups are almost 100% about Produce work, that's why some people love working at start-ups. Larger companies tend to require more organise + self-promote work. Use this framework to choose yours wisely. Link to original piece I wrote here: https://mrsk.substack.com/p/what-type-of-work-excites-you [link] [comments]  |
| No matter what business book I read, it turns out complete waste of time! Posted: 08 Jan 2021 05:24 AM PST Bit subjective but seriously a book could have 4k ratings and half way through I'm regretting spending time and money on it. Dreading having to finish it. Just complete waste of time. Everything being said is so obvious that you are left searching for deeper insight. Not to mention, Every point is preceded with 3 stories that feel half made up. For example:...... Never Split the Difference - couldn't get past stories, gave up midway after reading 30th story Thinking, Fast and Slow - got tired of self patting, questionable use of scientific facts as proof and didn't learn anything deeper than you would have from reading just the title. The four - actually better than previous two, had details from events that actually happened, but nothing a documentary on youtube would not tell you Inspired - I thought this book would teach "How to Create Tech Products Customers" as it says. But it's 99% how to be a product manager, why product manager is important and how to find good product manager….. what?? There was a book that I loved and found USEFUL. A TEXTBOOK on marketing. It was FAR more straight to the point, delivered something tangible(frameworks). Or a course on fb advertising... Really wish I lived in a world where books were utilized to share knowledge. What're your top 3 books? I like Lean startup, zero to one, lean analytics, etc. oh another thing I noticed, books aimed at CEO/management seem to be extra trash. Books written for particular skill are better and even ones for founders tend to be good. [link] [comments]  |
| How do startup owners make profit Posted: 08 Jan 2021 05:49 PM PST Hey. I'm very new to this, and completely clueless about these sorts of things. So basically I'm creating a startup for a film on an equity crowdfunding site. My question is, say I have 50 investors, and I raise $50k. I have to pay all of them back + a % of equity. When would I as the startup owner ever see any money for myself? Say for example the film makes $100k. That's a $50k profit, but to me it seems like the investors would get all of it? But at the same time I know that's ridiculous because there would be no point in anyone starting a business to begin with if they never got to see any of the profits. I'm sure there must be something I'm missing or haven't put together yet. If you could help me understand that would be awesome. [link] [comments]  |
| How to softly kick a friend out before incorporating our business? Posted: 08 Jan 2021 03:20 PM PST Hello everyone, In last november, my brother, a programmer, had a business idea built around a software and a website. He is a stereotypical programmer with no other business skills than being a very good coder. He knows it and asked me and 3 other friends to help him build a business. Fast forward today, we started already and we saw that the money at play here is not around 1k a week as initially thought but we could go as much as 20 or 30k a week in net profit as some competitors we didnt know about are making. We are on track to build something that has the potential to be big and we asked an attorney to help us build a contract so the business is finally legit (we havent made lots of money yet, but we want to expand and be a real entity) The brother of one of my friend recently entered the team as he has skills (big data, stats) that we dont have and is important if we want to scale up. I know him since childhood and he is a solid guy and already a businessman himself, he is our mentor of some sort. The problem is one of my friend did nothing at all since november and all 5 of us except him think he has no business with our company. He has no particular skill, only have high school diploma (we all have a bachelor except the mentor who has a master), has no relevent work experience and doesnt contribute to the discussion. When we talk about strategic plans, he talks about operational stuff, and thats when he talks. The real problem is that he is our childhood friend. How do we kick him out by explaining that we dont see him as a plus value for us and that he is not ready for a business and still stay friends ? He is not a bad guy, just not a business guy. [link] [comments]  |
| Posted: 08 Jan 2021 03:28 PM PST Im a 17 old programmer, and I have come to contact through an acquaintance with the founders of an early-stage start-up (there are no wages yet) who would like me to join their team after consolidation. Since I'm so young and haven't had any experience with entrepreneurship but reading several books on the topic, I would love to hear some general advice on joining a start-up but also things to have in mind in relation to my age. They seem to be very genuine people, so I don't expect them to exploit me because of my age. We are going to discuss equity, maybe you have an idea of how large a part I should own for it to be fair, based on the little information I have written, my guess would be around 10% (before investments) if I contribute time equal to the others. Excuse me for my imperfect English, I'm a foreigner. Thanks. [link] [comments]  |
| legal terms in a chat app, how can I protect myself from malicious use of my app? Posted: 08 Jan 2021 12:31 PM PST With some friends we have an idea of an app that would use an adult chat (not porn) just to meet, sometimes anonymously until both parties want it. my fear is that it can be used in a malicious way, and how can I avoid protecting myself from children using it and worse still, adults taking advantage of it. Is it enough that I put a tick that "I confirm that I am of legal age"? Or maybe in my "terms and conditions" clarify that the company is not responsible for inappropriate use. Is it enough to avoid a lawsuit? [link] [comments]  |
| Figuring out addressable market across the globe Posted: 08 Jan 2021 04:15 PM PST I have database that shows cost of panels, revenue generation, energy production when solar panels(of different sizes) are placed on buildings(rooftop and sides) across locations in majority of cities around the globe. I am on my way towards developing an api and UI to display them graphically. However, I am concerned in terms of how useful this would be and if this would attract any user. Where do you think I can find legitimate information on total addressable market for this subject, I am looking for academic papers, well researched blogs and articles but I am not sure of the keywords I could use. My searches have resulted in total addressable market for solar panels which is not what I am looking for. I am looking to see an estimate of how many users (or companies) globally could potentially use this data. Any help or direction would be highly appreciated. [link] [comments]  |
| Sourcing different elements of a product from different countries - and manufacturer Qs Posted: 08 Jan 2021 04:07 PM PST As per the title, has anyone had any experience with this? For example, having the packaging made in China but the product made in the US/UK (wherever you are). If so, what issues arose from this? I'm looking to get my packaging created in the UK at a half decent price per unit to try and avoid relying on means such as those through Alibaba. I have my designs and dimensions ready - is there anything anyone would recommend asking potential manufacturers when getting quotes? This is all new to me, and whilst Google has been a good guide I'd like to get some firsthand advice. Thanks all! [link] [comments]  |
| Having all founders start at 5% equity Posted: 08 Jan 2021 12:13 PM PST I am thinking about the fairest way to split equity among co-founders and came up with an idea: What if you had all founders start at a very low equity stake (5%) equally. Those founders then had 1 year to prove themselves and at the end of the year, all contributions/performance was evaluated and a higher equity split was determined based on that year's performance. This is, of course, assuming no investors or partners were onboarded during that time. Is this dumb? [link] [comments]  |
| Posted: 08 Jan 2021 08:26 AM PST Hi All, I have an idea is a phrase I'm sure you have heard a million times and have grown weary of. But I don't have many so I am trying to make the best of the ONE idea I do have and could do with some pointers.
I'm sure there are a million things I need to know about the mechanics of setting this up, but I want to understand if the idea is even worth pursuing. Any constructive feedback or personal examples would be most welcome and if I get this off the ground maybe I can give you a discounted subscription! :-) Kind regards [link] [comments]  |
| Equity compensation language sounds weird. Advice? Posted: 08 Jan 2021 08:52 AM PST Equity compensation terms, looking for advice. Might be signing offer today. I have been given an offer that states "we will recommend to the board of directors of the company that you be granted the opportunity to purchase up to x amount restricted stock, as determined by the Board on the date the Board approves such grant. However, the grant of such options by the Company is subject to the Board's approval and this promise to recommend such approval is not a promise of compensation and is not intended to create any obligation on the part of the Company. Further details on the Plan and any specific option grant to you will be provided upon approval of such grant by the Board." This seems quite flimsy to me. I thought I was getting skin in the game and equity. This seems more like the opportunity to have skin in the game if the board decides to grant me it at each vesting date. Thoughts? [link] [comments]  |
| How do you deal with burnout? Share your tips and advice Posted: 07 Jan 2021 07:25 AM PST Burnout is something as founders we commonly experience, some founders manage to overcome it with ease whereas for others it takes a while. As a founder, 1) How do you prevent burn out? 2) If you feel the burn out, how do you recover from it? For me this year one of the most efficient ways to get relaxed is cooking pies (!). I was so excited making dough and squashing it! [link] [comments]  |
| Posted: 07 Jan 2021 06:48 AM PST I'm 17 years old and looking to start a new business. I have already started 3 of my own businesses ranging from selling 3D- printed fidget spinners to doing 117 people's schoolwork since we are online. I have so much fun with it and I'm looking to start something new. My last venture was starting a company selling stainless steel water bottles (private labeling sorta) I used a factory in China I found on Alibaba. I'm looking to start a minimalist clothing brand. I have decided to start with t-shirts, and I want a custom design on them. I was wondering if anyone has any tips on where to find cheap, yet good quality manufacturers for this kinda thing. I have never done any business with regards to clothing so just trying to learn as much as possible. Any feedback would be greatly appreciated :) [link] [comments]  |
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