Startups Major risks of software startups? |
- Major risks of software startups?
- I'm a doer and not much of a talker. How do I go from zero to one as a salesman?
- how accurate is this post from 2016? "How much will you make in a startup? "
- Should I pay my target users to do interviews with them?
- Advice on whether I should take money from my friends dad.
- Tools for calendar and email reminders
- Calculate COGS for Hardware Rental
- About to potentially start working in a small startup. It's my very first time. Any things that I should be aware of before hand ?
- FB Ads Tips New Company
- Equity for for first hire (me)
- How do you bootstrap a brokerage startup?
Major risks of software startups? Posted: 27 May 2021 04:20 PM PDT I'm a 32 year old doctor, so I earn well and live very comfortably but I am starting to become aware that when your net worth is around 100-250k USD you are lulled into a false sense of security; you don't really want for anything but you're still a small fish that can be fried very easily by changes to the economy/your job status etc. But 100-250k is probably the height at which most jobs are going to take you, to get above this level by x4 or above your net worth you need to go outside of wage slavery and take risks... or just work and save until you're old enough to have a wife and kids who can enjoy it all while you continue wage slaving. I'm dabbling in investment but it's only really crypto that can 4x-10x your money in a year or two and that's essentially a casino so I won't be doing that with 100s of thousands of my savings. So instead I am soon meeting with 4 friends of mine; 2 programmers, 1 clinician and a small textile business owner. We are looking into starting up a medical software company. We have what we think is a very good 4-5 year roadmap with each step being practical and achievable. I just wanted to know if any of you guys have any stories of not just success but also major failures in software startups of this scale, so that I can figure out what are the main pitfalls to avoid? [link] [comments] |
I'm a doer and not much of a talker. How do I go from zero to one as a salesman? Posted: 27 May 2021 07:16 AM PDT For context, this isn't my first rodeo. I'm a full stack developer, have worked at a YC company as employee #1, have co-founded in the past and raised, come from a dropout background and earned my chops building side projects and doing hackathons. I'm also an awkward nerd with a babyface who's not great at talking to strangers and has never found networking intuitive. Fundamentally, I'm not a salesman. I'm trying to start a new project, but finding it real difficult to get off the ground in terms of talking to users. I'm an old-fashioned hacker and am at my best designing and building things which I like to think I'm pretty good at, but this is not in my strong suit. The previous company I co-founded, I had no experience and stumbled into some credible-seeming talkers who I built the product for. It was a long story and we ran into some problems but the fundamental result is that I've never had to do this. I've identified a (very real) problem that large numbers of founders experience. I've done 6 customer interviews so far from my network. I've built a landing page. But now I'm a bit stuck. I need to refine my model but don't know how to get the conversations I need. What I need to do is get out and start selling to people, but I don't even know where to start. Looking like I'm barely out of high school doesn't help. Feeling super overwhelmed, advice much appreciated. I don't want to do the classic technical guy blunder of build build build without heed paid to users. Bad non-technical co-founder candidates are in high supply, but the good ones are rarer than gold. [link] [comments] |
how accurate is this post from 2016? "How much will you make in a startup? " Posted: 27 May 2021 11:29 AM PDT was some doing some research sand stumped on this post from this sub a while back. is it accurate? https://www.reddit.com/r/startups/comments/5v71lf/how_much_will_you_make_in_a_startup/ first part copy pasted here
[link] [comments] |
Should I pay my target users to do interviews with them? Posted: 27 May 2021 03:21 PM PDT Hey, I'm still relatively new to user interviews and while ideally I'd like to be able to get 30-50 people without paying and just because they care about the problem I'm solving, I think it might be much faster for them to agree if I offer them a payment. (p.s. I don't have immediate contacts so I pretty much have to cold contact them). Is paying people whose problem you want to solve frowned upon? What is your experience? Did you find it easy to get people for free and how did you convince them out of cold-reach? [link] [comments] |
Advice on whether I should take money from my friends dad. Posted: 27 May 2021 09:56 AM PDT Me and my friend have been making apps and music together as a hobby for years. But it wasn't anything serious and we made stuff ourselves so it didn't cost us anything if it failed. Recently we've been planning on starting a startup that requires some amount of funding. So my friends dad decided to give us the money we need but he wants us both to sign a contract stating that we will give him a 20% cut from the profit. I'm a bit skeptical of taking money from the co-founder's father. Want some opinions from you guys. Edit: To clarify, he doesn't want amy ownership of the company or to loan the money. According to his religious views giving a loan and taking interest is forbidden. So he only wants 20% of whatever profit we have. [link] [comments] |
Tools for calendar and email reminders Posted: 27 May 2021 11:44 AM PDT I host some online events with friends/peers. I post the link on social media/blog and ask them to join it on a specific time and date(it is usually a few days ahead) As expected, there aren't many people turning up. I think a reminder will definitely help. If someone is interested in attending the event, is there a way for them to click on a link and and add the event to their calendars directly? Else, I want to collect their emails through a link/form, that will send them a reminder 30 minutes before the webinar starts. What tools do I use to make this happen? [link] [comments] |
Calculate COGS for Hardware Rental Posted: 27 May 2021 11:26 AM PDT Hi there. I am creating a financial projection for a hardware rental business. I wanted to know how to build out the COGS for the income statement. Do I divide the total COGS by the lifespan of the product? For example, I buy a hat for $120 and rent it out for $20 a month with a minimum of a 1 year rental. If the hat only lasts one year and is thrown out after, do I put COGS as $10/month. What if I can rent the hat 3 times at the $20 fee? Divide $120 by 36 and add any maintenance, shipping or other costs to the monthly COGS? Thanks. [link] [comments] |
Posted: 27 May 2021 05:22 AM PDT I'm an engineering student, currently doing my masters. The company advertised two 'trainee' positions. I applied to both because I am eligible for both, and also interested. Had my first interview today. They suggested that they might only hire one person, (me), because I can take care of both roles. I jokingly said does it mean 2x the compensation. They said yea that means 2x work, so we can discuss that. In terms of compensation, they don't wanna hire me, but want me to work as a freelancer, and then invoice them. It's because if they hire me, they need to take care of health insurance and stuff. So they wanna avoid that. They also said something about options. I think they meant stock options. What should I know about this before hand ? There is no certain number of working hours. I just have to deliver work. Not really sure if that's trainee level work or full time engineering level work. The company only has 4 people in total. I'm going to be the 5th one. They say that they will keep increasing team members, and by the end of year it might be double the team size as of now. I'm supposed to take care of the technical side. There's only one other guy that I think knows about this. He's the person who developed the prototype as part of his thesis. I'm supposed to work on that. I would appreciate any advice from you people. It's my first time and I want to avoid any possible pitfalls. [link] [comments] |
Posted: 27 May 2021 08:44 AM PDT We are launching a new company that is a scissor subscription service for hairdressers. We already have a company in a similar hair stylist niche, so we have a good customer list from that. Would you go with LLA of that customer list and Cold Interests at the beginning? [link] [comments] |
Equity for for first hire (me) Posted: 27 May 2021 08:29 AM PDT I am juggling two job opportunities and trying to figure out if my startup offer is worth it Job 1: I would be the first real hire behind the 2 founders. They company has only been existed for 9 months but they are profitable. I would come in at the VP level with a guaranteed salary. In addition I would get up to 5% equity vesting over 3 years. Optional performance 20% bonus. Job 2: No equity but salary is 20% higher and also has a 20% performance bonus. Also coming in at the VP level and probably less stressful job. Just looking at the financials, which one would you take? Am I getting a reasonable amount of equity given I am going to be responsible for building a huge part of the company. [link] [comments] |
How do you bootstrap a brokerage startup? Posted: 26 May 2021 05:52 PM PDT If you came up with an idea for a brokerage platform, whether it be crypto or the stock market, how would you bootstrap your startup considering the regulatory hurdles? What major financial commitments come with trying to launch and develop a FinTech startup in this sector? Do any of you have first hand experience with these industries or problems? Any and all help is appreciated :) [link] [comments] |
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