Startups I’m a cofounder at a successful startup.. I feel burned out, demotivated, and see a new path that could provide happiness. |
- I’m a cofounder at a successful startup.. I feel burned out, demotivated, and see a new path that could provide happiness.
- Small Wins, Make Consistent Gains
- We’ve formed a team, done the research, we’re building an MVP and we’re putting together a pitch deck. What next?
- Effect of having no degree when pitching investors? Hiring without a degree? Go back to learn CS?
- Keeping legal costs down.
- What would you do if you were me? Is negotiation possible?
- How to actually get user interviews
- What is the probability of actually gaining investors?
- Interviewing candidates for our first hire... any tips?
| Posted: 07 Mar 2021 08:33 PM PST To keep a long story short, my 2 friends and I created a startup 1.5 years ago.. For the first year I was loving every moment of it, but now, we're approaching 20 employees and I feel like I'm locked in a prison and desperate to get out. The company is expected to do $10mn ARR this year. I find my day to day work so unfulfilling.. it's such a grind. Months of grinding it out, and I'm probably not even half way through the grinding. I feel like I have to fill a gap in the company but it's not what I enjoy doing. Meanwhile, I had been thinking of new personal projects and I stumbled across a project I'm very excited by. I feel extremely confident that I could pull off a great execution of this idea and short term it could net a lot of income and it would be a positive and wholesome place on the internet. If I was working as a simple employee I would feel empowered to quit.. but, I'm a cofounder with lots of responsibilities, and I would feel like I'm letting my friends and team down. I just don't feel I fit in this company anymore. 50% of my equity is vested, if I stayed another 2 years I would be fully vested.. I don't know what to do. I've always struggled with discipline but I have this huge urge to just venture off on my own and use my abilities to generate a large income for myself. Any thoughts or advice? I feel so lonely as I can't discuss this with many people. [link] [comments]  |
| Small Wins, Make Consistent Gains Posted: 08 Mar 2021 12:48 AM PST My online boutique has grown into my sole form of income, and it helps put food on my table and a roof over my head. But that didn't happen overnight, and I think a lot of people expect immediate success from their online ventures and that's just not realistic. I've probably created over 100 small business or ideas that failed before this boutique and in fact up until recently this boutique was set to fail. What changed is I rededicated myself to learning through online courses, and from there I started to make small wins everyday such as learning a new topic or applying a new skill. That ended up taking me a long way to where I am now, but it's one or two small wins a day that keep me going. So always remember that small wins keep businesses alive, and if you always swing for the fences you might miss the base hit's in front of you. [link] [comments]  |
| Posted: 07 Mar 2021 01:15 PM PST Hey there (: My team and I are working on a platform in the trading and investment sector (think similar to popular stock trading apps today, but able to link to multiple brokerages). We have a solid team with a senior developer, a CEO that's worked at previous startups and myself for design. We're also hiring a few developers and designers for branding and front-end. We're aiming to have an MVP out by end of May. The question is, what next? We're reaching out to angel investors and accelerators with our business pitch, but we don't have a ton of experience with this. I'd love some recommendations on concrete guidelines to follow to have a good chance of getting some funding. We don't mind bootstrapping for a few months, but our model only really works with scale. Thanks and regards. [link] [comments]  |
| Effect of having no degree when pitching investors? Hiring without a degree? Go back to learn CS? Posted: 07 Mar 2021 10:19 AM PST Hi guys, I'll make this quick -I'm a young entrepreneur at a crossroads... I'm 21, dropped out of college, and do online e-commerce as well as own 2 subscription service businesses. My business partner is 29, a college grad, and just quit his job in NYC as an investment banker. We both want to build a REAL start-up in the near future. I've come to realize that if you want to build a start-up in today's age, it would probably help to know how to code. Learning to code has always been an interest of mine, so I'm actively starting to learn right now. My big questions are:
Anybody's input here would be deeply appreciated. Wish you all the best! [link] [comments]  |
| Posted: 07 Mar 2021 01:45 PM PST Hello everyone. My startup is just past the idea stage and I am working on an MVP. I am bootstrapping the pre-seed/seed stage. I need to register a company and eventually start hiring. I consulted a local law firm that specialized working with startups and even their fixed rate costs are out of my reach. I found them through google. Since the company will eventually will be registered in Delaware, is there a way to shop around for legal help? [link] [comments]  |
| What would you do if you were me? Is negotiation possible? Posted: 07 Mar 2021 10:16 AM PST Hi all. A year ago we created a startup. Me and three other people. The truth is that the theoretical idea was developed within a biology lab that these three people were working on. But because they couldn't develop a minimum working product (proof of concept) they asked me to help them. So I agreed. I developed all the electronics based on the specifications of the initial idea, wrote the firmware running on it, and also wrote an android application to operate the device. So, when the time came, two of the guys (the most senior) tell to the other two of us that the one (not me) will take about 19%, and to me, they gave a 5%. To be honest I wasn't prepared that the division of the company would be under those circumstances. Also, I didn't know those guys and what I asked was to make it at least 7%. I am 10 years younger than them (27 yo) and probably a little bit immature. A year now, the product seems to work. We got a bunch of money from a VC and the European Union and the company counts 8 people. In the software department, I'm on my own and I really feel that a huge amount of the work in order for the product to get out in the market is done by me. Others most of the time are trying to find and communicate with some third-party suppliers and distributors. Having said that, I start feeling stupid and wronged. I'm even thinking to leave them at all but I was wondering if there could be any way to drive them into a negotiation. What is your opinion? [link] [comments]  |
| How to actually get user interviews Posted: 07 Mar 2021 08:10 AM PST So I have been trying to get my first set of user interviews and so far I seem to have hit all dead ends. I got one interview from a person that the product concept applies to but everyone else is essentially cold messaging or emailing and while I have gotten a couple "what are your questions" once I send the questions by I never get a reply if the message even gets opened at all. I have sent maybe 8 messages/emails so far and need to accumulate 50 emails by the end of my semester for the incubator program I'm working through. How can I do better to get a higher response rate or just be better at this in general I guess? [link] [comments]  |
| What is the probability of actually gaining investors? Posted: 07 Mar 2021 02:39 AM PST Hello everyone, first time posting in here. The past months, I have been doing calls and emails to some people I know that might actually invest on my project. The project has a high rate of success, and I make this claim because I've seen it work with several people. Thing is, does this kind of method work in the hopes of gaining investors? I've been doing it for months, and the lack of success on that area can just be of a downer at times. I've been trying to work harder as well so I can finance the whole project by myself. But I dont see that as a sustainable option though, cause I cant put all my resources in one basket. Should I stick to that method (calls and emails) a little longer? Or is there something I am missing? Thanks. [link] [comments]  |
| Interviewing candidates for our first hire... any tips? Posted: 06 Mar 2021 10:38 PM PST Hi all! My co-founder and I are interviewing a few candidates to do some design consulting work and am wondering if there are any do's/don'ts that we would be able to incorporate as we go through the interview process. What we're currently thinking: 1:1 meetings with each of us to get to know each candidate a bit, learn about their background and skillset and then invite a few of them to design ideation sessions with the two of us founders. I think that should give us enough signal to decide on a candidate. Would really appreciate any feedback or advice! :-) [link] [comments]  |
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