Startups How do you answer this question form VC "if Microsoft or Amazon wants to copy your idea, how do you know you can win against them?" |
- How do you answer this question form VC "if Microsoft or Amazon wants to copy your idea, how do you know you can win against them?"
- Seeking recommendations for finding founding members
- Is it worth applying to Start-up Competitions?
- Set up Facebook ads geared for sales for a brand new service
- How do I negotiate an equity stake in a new startup?
- Wanted a large startup to acquire my product but instead they offered me a job
- Young Startup Embarking in Partnership - Tax Question
- Do I need to have potential suppliers sign an NDA?
- How do I get a technical cofounder??
- Why Shopify? Building seems better.
- Startup Lawyer Questions
- To any biotech or health startup founders out there, what differences have you noticed as compared to more "traditional" tech companies?
- How do I create an Internet startup and survive?
- How to get early users for Problem / Solution validation interviews?
| Posted: 03 Mar 2021 01:47 PM PST I was watching a Chinese podcaster who is a JP Morgan analyst who has her own startup, she talked a lot about the ups and downs in her journey as an entrepreneur and one of the questions she got asked a lot by investors is "if Microsoft or Amazon wants to copy your idea, how do you know you can win against them?". She said she really doesn't know whether she could win against these big companies, but the good thing is if these big companies are looking at the same thing she is building, then that means at least this a product of good quality/promise, but otherwise, she didn't really add much to answering this question. I am just wondering what redditors about this in general? I mean every start up is different, and there really shouldn't be a "model answer" to this but just some food for thought [link] [comments]  |
| Seeking recommendations for finding founding members Posted: 03 Mar 2021 11:31 PM PST Hello, I live in a relatively remote area of the US, and I'm interested in finding founding members for a startup (crypto based, yeah I know – I'm groaning for you) Anyways, I'm wondering what options you would suggest for networking with people who are interested in joining a team like this, or any startup really. I thought product hunt could be an option, but I got the feeling that PH was for products that are at the very least testable. Also, I don't want to just bother people on LinkedIn cold, I don't expect that to go well. Are there any good options you have come across for networking with people who are interested in working on founding teams? Any help is appreciated. [link] [comments]  |
| Is it worth applying to Start-up Competitions? Posted: 03 Mar 2021 10:42 AM PST Hi everyone, Do you think it's worth applying to start-up competitions to get your business off the ground? Do you think people will steal your ideas in start-up competitions? If they're worth applying to, which ones are the most legit, reputable, helpful ones? Thank you!! [link] [comments]  |
| Set up Facebook ads geared for sales for a brand new service Posted: 03 Mar 2021 10:47 AM PST I have made a new product (not in production, only locally available) to create Pinterest pins in bulk. Read 100 pins in under 10 minutes....given the text and image to create the pin. I want to see if users are willing to pay for this service. So I am thinking about testing this out with FB ads. My problem is that i do not have a FB pixel, I need to setup ads from scratch. How do I build a target audience that will be willing to pay? I do not have a website, would like to try by setting up ads on the FB page with the offer(s). Anyone with experience who can advice? [link] [comments]  |
| How do I negotiate an equity stake in a new startup? Posted: 03 Mar 2021 01:57 PM PST I have an offer to join a startup, with a certain $ amount put towards shares per month at zero strike price, until Series A (which will most likely happen in 12-18 months). I've been working at MNCs for over a decade so my startup know-how is limited. I'd appreciate the help in understanding: 1- what strike price means 2- if zero strike price is a good thing Is there anything else I should ask the founders about equity/shares before negotiating/accepting the offer? [link] [comments]  |
| Wanted a large startup to acquire my product but instead they offered me a job Posted: 03 Mar 2021 05:58 AM PST So I had an idea around when the pandemic started and I started developing it into a product (an App). And today it is a full fledged working app that has a lot of potential (I am testing it with a small group of acquaintances). But a couple of weeks ago I stumbled on a roadblock, I required some money to acquire some content for the app, not much, around 10k. But this content was essential for the app to work properly, and also essential for me to test it outside my small group of acquaintances. So not knowing where to get this money from I started getting very frustrated and kind of gave up. The app is sort of a content aggregator, so it works in symbiosis with other e-commerce sites and apps. So I remembered I had a friend working on an e-commerce unicorn. And I thought that maybe if this unicorn likes how my app makes their own site much better and gives them an advantage against their fierce competition, then they would acquire my app or invest on it so I could finally acquire this content I needed with the measly 10k. So I asked my friend if he could tell someone in his office about my app and he did. Now he told me that they were impressed and that they wanted to hire me. But that is not really what I wanted to get out from this. I am just a clueless college student and I don't really know what I'm doing. How should I proceed now? I feel like if I say no to their offer they could just end up copying my product. Did I screw up by showing it to them? I would really appreciate some advice here [link] [comments]  |
| Young Startup Embarking in Partnership - Tax Question Posted: 03 Mar 2021 12:33 PM PST Hi, we are a startup that has recently been approached about a partnership opportunity. The second party is asking for help with marketing including advertising on our site, SEO, etc. in exchange for a percentage of revenue. Since we are being paid a percentage and not a fee, what do we need to know about taxes at the end of the year? Are we responsible for a percentage of the taxes of the company or are we just responsible for the percentage of the amount that we are actually paid? We haven't signed any papers so if there are better ideas, I would appreciate the pointers. Thanks! [link] [comments]  |
| Do I need to have potential suppliers sign an NDA? Posted: 03 Mar 2021 11:14 AM PST I'm in the extremely early stages of a new startup. Currently one thing on my to do list is to find a supplier for my product. The product is different than anything on the market right now but isn't patentable. When reaching out to all these potential suppliers to discuss pricing, logistics, etc. do I need to have them all sign NDAs? And if so what is the best practice for drafting one up and getting it sent to them? [link] [comments]  |
| How do I get a technical cofounder?? Posted: 03 Mar 2021 09:37 AM PST Hey All! I am a non technical founder of an app that (after three grueling years) I paid to have a firm build. Now the app is ready to launch but I am in desperate need of a technical cofounder to run the app, help us scale as we grow, drive technical innovation, etc. However, I am still bootstrapping so I don't have the funds to lure away a talented technical partner. More over, I don't even know how to be able to tell if they are in fact qualified. I couldn't go through their code to decide if they could do what we need them to do. I can launch the app without this person, but we won't last long without them. And will struggle to get substantial funding without a balanced team. Any advice?? Edit: I am not looking for anyone to quit their day job for no salary. Rather, someone who will work part time for equity then receive a salary once we've attained the proper funding. [link] [comments]  |
| Why Shopify? Building seems better. Posted: 03 Mar 2021 07:13 AM PST I'm extremely strong in CS, built a handful of my own startups, worked at a handful more. Looking at a role where I would run engineering in a new startup that transitioning off their MVP. Service is food tech subscription. Lots of funding. Some in the org have mentioned an interest in moving to Shopify, but they are business folks, no real tech background. I only have limited experience with Shopify, but seems like a bad direction for a serious tech company. Extremely constrained in terms of build options. Expensive in the long run. Tying ourselves to a specific vendor. And building a basic ecommerce website is not that hard. I've done it a few times already completely alone, or in teams. I noticed that some competitors use Shopify, some roll their own. Obviously the argument for Shopify is time-to-market, but given that the MVP already exists, it seems rolling our own would give us way more options in the future, and also be easier to hire top talent for. Any opinions? [link] [comments]  |
| Posted: 03 Mar 2021 11:43 AM PST Howdy all! I am in the end of the beginning stages of my startup (mvp finished, website up, etc..) and I am wondering if you recommend getting a lawyer for my T&C and Privacy Policy. The reason I feel weary is that it is an app for adventuring and people are likely to get hurt, lost, or worst case scenario die. Right now for beta testing I just have ones that I drafted up myself using a generator. Lastly what is the going rate for this types of documents to get drafted. I was recommended to a lawyer in CO that told me about 2k Any help is much appreciated! [link] [comments]  |
| Posted: 03 Mar 2021 04:01 AM PST I mean the nitty gritty. We all know regulations play a large role and tech takes more time to develop. But what does this actually mean in terms of running the business, getting early users/customers, financing, etc. Most of the "best" startup advice out there is directed towards less regulated, and potentially less complex, industries. What are the main differences you've noticed? How do you cope with them? [link] [comments]  |
| How do I create an Internet startup and survive? Posted: 03 Mar 2021 10:59 AM PST Greetings, redditors. I'm sorry if this question gets asked a lot, but I'm very new to this. I've got an original idea of a social network, which I know myself and at least few other people would love to have. I'm a rather experienced software programmer. I've got little experience in server/web programming, but I'm pretty confident I can learn and create the needed infrastructure, software and front-end. But what's next? Software development is the only thing I'm good at. Where do I host it? How do I protect it from hackers attacks? How do I deal with international laws and demands of intelligence services? How do I deal with big players with big resources trying to consume my project? I'm just a programmer. I have no knowledge of business and law. First step seems to be assembling a team. But would that mean that my team can claim the shared ownership of my project? And if I hire an accountant - how do I keep them from stealing money? Another solution would be to sell my project to a big player. But that would take the ownership away from me and let them twist it however they want. I'm the most afraid here of the essential features getting paywalled. And what do I do if I a big player tries to sue me for one reason or another? [link] [comments]  |
| How to get early users for Problem / Solution validation interviews? Posted: 03 Mar 2021 12:15 AM PST Hi all. I'm doing problem and solution validation interviews for my very early stage startup in the phone addiction/overuse 📱😠space. I'm doing this in a very manual way: Basically I searched in Reddit and Facebook for groups of people I consider can be having this phone addiction problem and posted a request for volunteers for interviews on the topic (15min zoom calls 📺📞). Structure of the interviews:
I had the best -moderate- success so far in subreddit DopamineDetoxing, probably because is very on-target. But numbers are not too high, so my rate of learning is not very fast: Getting 4 interviews/users per week so far, was aiming for 15. I'd be grateful for any ideas/tips on how to approach this problem to get faster results in getting these volunteer interviews. Or maybe is supposed to be a grind 😅? Thanks! [link] [comments]  |
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