Startups I was let go from a dream startup and I feel so defeated right now |
- I was let go from a dream startup and I feel so defeated right now
- Yes, VCs will look down on you if you run an equity crowdfunding campaign
- Requirements to apply for Startup Capital?
- Programmer looking for Co-Founder
- How to safely and legally purchase an aged (seasoned ) LLC? Focus on loans for scaling
- Opening up a restaurant in Toronto, Canada during the pandemic. Questions for restauranteurs/ business owners. Advice/ information much appreciated!
- Deciding between two very different early-stage startups to join
- I think I may be getting bad advice
- How to value the time I spent (co-founder) before founding?
- i need help with my clothing brand
- How to deal with user submitted content?
| I was let go from a dream startup and I feel so defeated right now Posted: 04 Mar 2021 11:48 AM PST Haven't even been there 3 months. I honestly thought things were going great. I was finally gaining traction with my deals and secured a 100K pipeline coming into March, just got done booking 2 more appointments and the founder calls me up and let's me go. Doesn't even give me a reason just that I'm not a fit. I was slow to book appointments initially but I started really coming into my own and thought personally I was on the right path. Not even a month ago and the founder was absolutely delighted at my performance. I'm so fucking depressed. I turned down a super cushy corporate gig for this company, taking a huge leap of faith and got burned so badly. I honestly don't understand people sometimes. It just doesn't make sense. So fucking bummed man. ::Edit:: I sincerely appreciate the kind words from everyone. After taking time to digest, I feel empowered going into my next role. My experience was positive overall and I have much more respect for what goes into start-up life. On to the next as they say. [link] [comments]  |
| Yes, VCs will look down on you if you run an equity crowdfunding campaign Posted: 04 Mar 2021 06:30 PM PST I'm currently running an equity crowdfunding campaign for my company (which is going well), and I've been asked by multiple other startup founders if they think VCs will look down on you for equity crowdfunding. The answer is Yes. I've had ongoing discussions with a number of VCs, and when I let them know we are opening up a Regulation CF campaign (lets both accredited and unaccredited investors participate), several have had a negative reaction. Whether they come out and say it or not, they'll ask why you "needed" to raise from the crowd rather than from VCs. Personally, I don't give a **** at this point since I've been working on this company for a few years now and we have never nailed down a proper VC-led round. We're growing with low seven figure revenues, have some major product initiatives that will be transformative, and found a great strategic lead investor to anchor our round. These same VCs that get persnickety about crowdfunded companies are largely the same ones that are interested in investing in you "when you have a lead investor". No courage, no conviction, all pride. I'm sure having a good VC lead your fundraising round and join your board is great. But there comes a time to tie your shoes and start running forward, without worrying what VC's badge you get to wear, if any at all. [link] [comments]  |
| Requirements to apply for Startup Capital? Posted: 04 Mar 2021 09:26 AM PST Does anybody have experience applying for startup capital for a tech business? What stage do you need to be at? Do you need to have an MVP or proof of concept? Do you need to be operational already? A lot of these venture capital programs (y combinator, Coinbase Ventures, Crypto com Capital etc) are huge names with a lot of money but give very little information about the initial process, you basically just have to cold call them with an email. Furthermore, what information should that first email convey? [link] [comments]  |
| Programmer looking for Co-Founder Posted: 04 Mar 2021 11:50 PM PST Hi Everyone, I am a programmer and am currently looking for a Co-Founder. I'm experienced in Fullstack development, Android Development, Game Development, and even Artificial Intelligence and Machine Learning. I'm proficient in the implementation of a product but don't have ideas. I would love to connect with somebody who has ideas and wants a programmer to execute and implement them. Thank you for reading this. [link] [comments]  |
| How to safely and legally purchase an aged (seasoned ) LLC? Focus on loans for scaling Posted: 04 Mar 2021 11:49 AM PST Hi all, this is my first ever post. I would truly appreciate any advice. Im 20 years old, and an aspiring entrepreneur. both my parents are uneducated and poor, so its all up to me to figure things out by myself, but a lot of things regarding legalities and the IRS make me nervous as I have no money for lawyers etc. Basically, I decided I would rather purchased an aged LLC from one of my trusted bosses, as I would rather not have a new born LLC and the price is damn near a gift. The LLC in question is 2 years old. My boss told me all I would have to do, is call the IRS to change the name of the LLC and make myself the main "member" or "partner" and alter the Articles of Incorporation and Operating Agreement to make them relevant to me and my online sales business. Pretty much, my goal is simply to try and get at least $10k in business loans however I can, as last year I did $10K in sales with $5k of my own personal money invested. Chipping in 50s and 100s whenever I could, as an independent college will not let me scale as fast as I know I can. Thanks in advance! [link] [comments]  |
| Posted: 04 Mar 2021 01:04 PM PST My friend and I have always talked about potentially opening up a restaurant together in the future. We planned on starting with pop-ups this summer in Toronto, Canada if Covid-19 restrictions allowed it. We suddenly received an offer that I feel is a once in a lifetime opportunity. Someone we both are quite close with owns a commercial building at an up and coming neighbourhood in Toronto, major intersection with streetcars on both streets, high volume traffic with 2 condos 800+ units added to the intersection in the next 2 years. The space was previously a fast food restaurant and is around 1300sqft, has a basement, along with a second floor that is currently a vacant apartment and roof top patio. The individual has offered us the opportunity to start our restaurant in this commercial space in return for 5% equity in the company.Our concept revolves around a Wine Bar with a Scandinavian style interior at approximately 30-40 seating capacity. Menu concept is season-driven, locally sourced ingredients and contemporary small dishes and tasting menus. A great list of natural wines as well as the classics. Our main focus at the moment would be the main floor but if successful, we would like to expand to more seating on the second floor as well. I have been a Chef in the industry for 12 years working at fine dining establishments, hotels, corporate restaurants, and small 30-40 seat wine bars. My most recent position being at the 2 Michelin Star restaurant, Noma in Copenhagen and returning to Toronto to work as the Head Chef of a Wine Bar. My friend works in tech and has very minimal experience in the restaurant industry. He has a huge interest in food specifically wine and is currently enrolled in a Sommelier program studying under a Master Sommelier. He's been able to secure the commercial building rent-free and presented this opportunity to me. Together, we would have approximately 350-450K in starting capital from own-pocket/private family investors. A question for previous restaurateurs, would bringing on additional investors on the initial phase (before incorporating) be a wise decision or would we be able to stick to what we have and potentially bring on investors if the project exceeds our budget. Please let me know if I have missed any important information and thank you in advance for reading our story and giving us much needed advice!
Given that we are in a situation of being rent-free (sacrificing 5% equity) and being in a location with high volume of traffic (up and coming neighbourhood), are there any immediate red flags that stick out to you guys that would deter success? We understand that the planning phase and estimating P/L margins will be important when it comes time to execution but would love to hear other perspectives. [link] [comments]  |
| Deciding between two very different early-stage startups to join Posted: 04 Mar 2021 10:39 AM PST After feeling like I'm not getting anywhere in my job hunt after 5 months, I've finally received offers from two companies which I'm really excited about. However, now I have to pick which company to join. I need some assistance figuring out questions to ask myself to determine which company would be a better fit for me, or if anyone else who's been through a similar experience can share theirs. The additional context below is just my take on each company. Company A currently has no funding, but I would be hired as soon as the founder is able to secure the seed funding (which he says will be soon as it's from his friend) and would be a part of the "core" team. This founder and the other founding team members all have previous experience building companies from the ground up and achieving huge revenue growth. I know the main founder has some serious connections in SV as well. I would be doing engineering (mechanical) which I haven't really thought much of since college, but I think it would be really cool to experiment and build awesome stuff with these guys. Plus I believe the product will have real impact that I'd be proud of. Some drawbacks are that I have my doubts about the final product's market potential and I would have to relocate to a city and state with a very small tech job market. It's in the real estate/construction sector, so if this goes down I'm not sure how hireable I would be elsewhere. Company B is giving me the opportunity to do product management with a mentor to show me the ropes, which I've been focusing all of my job search efforts into since I was unemployed 5 months ago. I definitely want to move into product management one way or the other, so if I joined company A, I would try to implement those skills to build the position, but there wouldn't be a direct mentor. The team is cool, and the product is pretty slick (AR sector), but seems to have less potential to be massive compared to company A. This team doesn't have previous startup experience, but they come from executive positions at bigger companies. They already have good revenue and they aren't looking for much funding in their series A. Overall, I'm not as excited about the product, but the opportunity to learn about product management with a direct mentor is really exciting for me and I think will give me way more opportunities if I decide to leave or if something happens to the company. [link] [comments]  |
| I think I may be getting bad advice Posted: 04 Mar 2021 10:36 AM PST Had an investor reach out to me on LinkedIn to discuss my ancillary cannabis business idea. We chatted, call went great, and he was really excited about the idea as he specifically seeks out startup cannabis businesses (green unicorn hunt). He offered to make introductions with VCs, some of which he is an LP. But I had to validate my idea first. Now I have a landing page to collect emails and planned to share in niche specific communities to gauge interest. When I shared this plan with the investor, I was told not to do it and to tell as few people as possible. I asked further questions and it boiled down to 'you don't want someone to steal your idea' before you launch. Well, I guess. But I'll never get to a functioning MVP without funding. I can't personally bankroll the build on top of Shopify or similar platform, marketing, legal, high risk credit card processing, etc. This is a completely new horizon for me and I don't understand his advice of not sharing my landing page with the target audience. Am I missing something here? Can you validate an idea without telling people about it? [link] [comments]  |
| How to value the time I spent (co-founder) before founding? Posted: 04 Mar 2021 09:29 AM PST I'm at the edge of founding my/our B2B SaaS company (tech) and looking for advice. I started it a side-project 5 years ago, at first I spent a few hours / week, and now it's full-time (I quit my job early January). 2 years back, I decided to bring a co-founder to help me delivering (was too big for 1 person). He has a FT job and don't invest much time, but he will bring cash and expertise for later. Now we have secured 500K funding from (his) family, and should sign the paperwork to found the company anytime soon. I'm now trying to figure out how to value the work I've done in the past. My time was roughly spent 50% on R&D (product dev, website creation, feasibility study, software design, prototype) and 50% on talking to customers, studying market, defining a strategy, finding the team etc. I used my savings to pay myself those last 2 years (until last december I still had a part-time job too). Do you have an idea how I can go forward to value my time spent in this case? I thought I should value only the last 24-18 months to be fair (anything before that seems unfair but I might be wrong). [link] [comments]  |
| i need help with my clothing brand Posted: 04 Mar 2021 04:24 AM PST hi there! before i start here is a little about my clothing brand... my clothing brand is not doing too well... started it 1 year ago i have sold some items but now there is no sales at all... can you guys help me with what i should do? i have 2 options in my mind: option 1: i continue posting stuff on instagram that i have been posting before, just more of it and better quality more or less the same stuff just better and more. option 2: delete everything from my instagram and completly remake my branding, logo and everything and do "reborn" version of it with better posts but i wont post as much i have a little over 2000 followers on instagram. If i decide to do option 2 how can i make hype for my clothing brand before i even show the product? (i already have a product shirts, hoodies,... but i will make diffrent pics and videos of the items) thank you for helping. [link] [comments]  |
| How to deal with user submitted content? Posted: 04 Mar 2021 08:04 AM PST I'd like to add a feature to my SaaS where users submit media which can then be incorporated into media that other users create. This is a pretty common feature, but it seems fraught with issues. First would be the concern of inappropriate content showing up. There are cheap automated services for detecting nudity, but for other things like gore and hate symbols, it starts to get expensive at the magnitudes I'm looking at. And no service is perfect. But would it be sufficient to run a nudity filter, then also include user submitted flagging or something? I guess it depends on how many bad submissions we get. The other concern is copyright infringement. I'm planning to talk to my lawyer about this, but my plan would be to have users explicitly claim they own the rights to any media they submit, and then also warn users that are using this media that it hasn't been verified by us. And then DMCA takedowns could be submitted with flagging. Anybody else dealt with user submitted content in a good way? Manual moderation of every submission seems much too expensive. [link] [comments]  |
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