Startups How do bring on founding team members as a start up founder? |
- How do bring on founding team members as a start up founder?
- Have almost 20 years of experience in Strategic Growth and Revenue Generation for companies....ready to go on my own but having some trepidation
- My Investors want 70% of my startup.
- Sales outreach is failing, should I try marketing/ads?
- Preparing to Start My First Business: An Outline of the Steps and Process (for Critique)
- I feel I am being played by CoFo
| How do bring on founding team members as a start up founder? Posted: 30 Jul 2021 06:13 PM PDT I'm looking to continue building out a team of all stars for my startup and curious how people think about bringing those first people and making sure they're the best fit! Would love any frameworks people have that have helped them figure this out. I've heard some people take months to do this but is there a way to be quicker? [link] [comments]  |
| Posted: 30 Jul 2021 09:33 AM PDT Hey community, I have been helping others build their companies with proven results in the areas of revenue generation and tactical as well as strategic growth. I've had a ton of experience in culture alignment, in business development, and have been THE person for years ensuring that the trains run on time. I am a licensed attorney with experience in business and tax law. All this being said, I am READY to start my own thing. I have an idea for a business in the space of overall health: physical, emotional, spiritual, and mental - with a focus on community in this weird socially distant world we're currently living in. What I do not have is money to start this. I just bought a house and have a baby. Not in the position to start this without a guarantee of a paycheck. I can potentially hop on my partner's insurance but we need to make sure there's a certain amount coming in for the immutable bills. Has anyone been in this position? Any advice or direction? I know from experience how to run a company and how to drive it forward to profitability. But right now I feel like I am driving my head against the wall - I have the utmost drive to get out here and OWN something and drive it forward in the way that I want to. Unsure on how to "bet on myself" without potentially sacrificing or gambling with my family in a way that could be disastrous. [link] [comments]  |
| My Investors want 70% of my startup. Posted: 31 Jul 2021 01:42 AM PDT I had an idea to create an online crowdfunding platform that allows people to fund or raise funds for project and causes of their choices using cryptocurrency. I approached an angel Investor with my white paper requesting for a startup capital in exchange for 20% of the startup. They (His friend requested to be part of the investor) agreed and without any signed agreement they disbursed the needed fund for the app development. We have successfully developed the app and now they are requesting for 70% ownership in exchange for 70% startup capital while I foot 15% of the startup capital for 30% ownership and the remaining 15% startup capital can be funded by them in exchange for 15% from my 30%. In addition I'm to pay back their invested capital within 5years while they still own 85% of the company. This make no sense to me neither to my lawyers but I will like to drop it here for more enlightenment. Thanks. [link] [comments]  |
| Sales outreach is failing, should I try marketing/ads? Posted: 30 Jul 2021 07:22 PM PDT I have a B2B SaaS that is a communication platform for landlords to talk to their tenants. I have been doing LinkedIn outreach and so far I have gotten 6 accepted connections, 3 responses saying they are not interested, 1 response saying they are too new and have no tenants right now. This is out of about ~100 connection requests. I was expecting at least 2-3 positive responses and didn't get it. I know sales is a numbers game but I am wondering if I just suck with these numbers. I have been thinking maybe since my product is a low-cost solution ($4/month per rental unit with the average company having 50-250 units - $200-$1000 per month bill), that I would be better off trying to use ads to drive traffic to my site. What is holding me back from trying it is knowing that I am not a very creative person and making a good ad seems to require creative skills. I also am worried my website isn't good enough. I think it's good but then again we usually think most stuff we do is either good or terrible. Are the LinkedIn numbers bad? I intend to continue it till I get to 500 requests sent so I have better data but am thinking I am doing terrible. Should I try marketing and see how it goes? How do I determine if an ad is bad or if it is working out other than return on ad spend? I am cash flow negative right now and am trying to reach the break-even point so I am wary of spending any money on something that won't get me to break even faster. [link] [comments]  |
| Preparing to Start My First Business: An Outline of the Steps and Process (for Critique) Posted: 30 Jul 2021 02:35 PM PDT Good day fine people of reddit, I am a 24F looking to start two businesses - the first is real estate investing in rental properties (which I'll save for the REI subreddit) and the second is a private karaoke business / "Korean karaoke" (current elevator pitch/one line summary: a BYOB karaoke nightspot featuring private rooms and American and Korean food and drink). I'll make a separate post about it, but as this is my first time starting a business, I'm looking to get an idea of the general steps involved. I wrote up an outline, in general but not exact chronological order. Please let me know if you see any errors or omissions or have any feedback! Private Karaoke Action Plan BUSINESS FOUNDATIONS · Market research o Research report § Potential § Competition § Demographics § Target market § Viability o Surveys o Feedback · Business plan o Research o Interview other businesses around the country § Space requirements § Financials § Anything else o Elevator pitch o One page o Mini (~10 pages) o Full / lender-ready (~30-50) · "Paperwork" o Financing: private lenders/investors, banks o Legal: lawyer (business structure, legalities, liabilities) o Financials: CPA (business structure, taxes, payroll), bookkeeper (recordkeeping) o Register with federal and state governments o Acquire federal and state tax IDs o Apply for and acquire licenses and permits o Apply for and open business bank accounts BUSINESS DEVELOPMENT · Menu development o Pre-established recipes o Make and adjust o Professional o Taste testers · Location o Research § Determine necessary square footage § Determine best area o Lease o Renovate and decorate · Name and logo o Custom logo § Fiverr, etc. § Visually appealing o Test name and logo OPENING PREPARATION · Marketing o Elevator pitch o Create social media accounts o Create website and domain o Create linktree o Promote via social media § Highlight differences between traditional and private karaoke § Show diversity § Menu § Fun and music § Behind the scenes of cooking and construction o Local news: interviews, articles, coverage (print, digital, social media) o Local businesses: (cross) promotion (signage, coupons, shoutouts) o Local colleges and universities o Local minorities: Asian markets, Asian churches, Islamic mosques o Word of mouth: spread the good word, referral reward, review reward o Sampling at local events: post on social media, get covered by local news or event social media o Opening promotions · Human resources o Determine jobs, responsibilities, pay, raise and bonus schedule o Hire: applications, phone calls, interviews o Train: try out period, mutually nonbinding o Schedule the survivors · Open! o Soft and grand opening o Best time of year (Northeast USA): mid-late August § Back to school · Children and college students § End of summer travel and vacations § Weather cooling off, people head back indoors Edits: Obtain insurance, set up payroll, UC, and WC [link] [comments]  |
| I feel I am being played by CoFo Posted: 30 Jul 2021 03:31 AM PDT I feel I am being played by my CoFounder, and He is just stealing the idea and The initial Investors are just his friends... Its a very sharp feeling, Iknow feelings sometimes don't count but during multiple meetings he always mentioned a different location for the operation as If he is planning to operate there not where I initially wanted. Help pls. Pls help advice! [link] [comments]  |
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