Startups At what point does a side project become a startup? |
- At what point does a side project become a startup?
- How important is the ��NAME��really? My co-founder are in a standstill, so we decided to leave it up to the sub to decide for us! Help us just decide for F-sake!
- MVP- build myself or hire?
- Looking For Pricing Strategy Book Recommendation
- Cofounder leaving, what now?
- How to structure a partnership vesting agreement with two unequal cofounders and no outside investors?
- How to structure profit-sharing?
| At what point does a side project become a startup? Posted: 28 Aug 2021 12:14 PM PDT Lets say I'm working on a software side project, it's at MVP stage, deployed and has managed to gain a couple of users. At what point does it become more than just some side project? Is it time dedicated to it? employees? Income? Is there even a defining moment? [link] [comments]  |
| Posted: 29 Aug 2021 12:57 AM PDT My co-founder and I have been discussing names lately, and although we know it doesn't really matter, we still end up discussing it more than we'd like. That said, I told him let's just settle it the oldest fashioned way, post it on a sub 🤣 My co-founder and I are both successful executives from two different sides of the coin. He's a sales VP closing 7 figure deals, and I'm a head of innovation at a large company. He and I have both agreed that the way SAAS sales are done today feels broken. From the painful amounts of cold reach outs to the high budgets investing in leads, something needs to change. Our product is a better more efficient way for sales pros and customers to interact and engage w/o all the wasted time spent on outreach and conversion metrics. (Keep in mind we're 2 weeks away from launching our beta) Here are the names: 1 - Bantor 2 - SpeakEasy 3 - Silent In the meantime, www.Bantor.io is currently being used for early signups to our first product release called "don't pitch me." A chrome plugin to remove all cold sales emails before they hit your inbox 🥳 [link] [comments]  |
| Posted: 28 Aug 2021 08:25 PM PDT I have experience with database development, and have BS in computer science (class of 2004). I would like to build a minimum viable product for an idea I have. Main functionality of the application would require machine learning and blockchain. I have been taking ML online course, and have learned some ML fundamentals and picked up python along the way. But I'm aware that the skill I have is not enough to do my own. One thing I noticed is that I can use python for ML, web app, and blockchain. And I'm willing to go down that rabbit hole. Given my skill level and background, would you recommend me continue to learn and build the MVP my own or hire a professional? I hope to hear from those with startup experience. [link] [comments]  |
| Looking For Pricing Strategy Book Recommendation Posted: 28 Aug 2021 09:53 AM PDT Hi Everyone, Currently we faced a problem with our client where they asked us to do the pricing strategy. This has never been our area and we refused. We wanted to be honest with them as financial experts would be handling this case much better then us. We can do things related to branding but not this one. After this experience we felt it can be interesting area to be explored. Not for our client but for our own sake. All the knowledge will be forwarded to other team members as well so if any books can be recommended or knowledge can be gained from the experts over here that will be much appreciated [link] [comments]  |
| Posted: 28 Aug 2021 09:40 AM PDT We find ourselves in a bit of a tricky situation. 3 cofounders myself, my brother the subject matter expert, and a lead developer. Myself and lead developer are in one country and the SME is in another. Over the last 2 months we have completed our MVP and are in the midst of outreach (niche B2B) and today out the blue my brother has all but decided to focus on his career. He didn't contribute all that much so from a workload POV it's not a big issue. Regaining control of his shares is not an issue either. But it does leave us exposed. I was about to begin investor outreach and obviously having him would be a huge plus. How should I tackle investor outreach in light of his departure? Is having a SME important? Should I find another cofounder? [link] [comments]  |
| Posted: 28 Aug 2021 10:51 AM PDT My business partner and I are starting to draft our cofounder partnership agreement, but there is an issue around vesting which I don't know how to resolve. We are at the stage where we need to form a legal business entity, and I will be working full time while my partner will be working part time for the next several months before possibly transitioning to full time if our business grows enough (I also have been working full time for the past several months so will have an initial share amount larger than my partner's). We do not need outside funding, so the only two owners of the company will be myself and my partner. I want to create a vesting agreement that will protect both of us, however, I am not sure how to. If one of us doesn't perform satisfactorily, the only owners to decide whether or not someone is performing satisfactorily will be us two, and because of the unequal full vs part time initial vesting, I will always be the majority owner and hence my partner would have no legal protection against me pushing him out with nothing. So my question is: how can we structure the agreement to depend on performance yet still give him some protection? My initial thought is that if we had raised money, then they could have acted as a third deciding party. However, since we have bootstrapped ourselves so far and plan to continue to do so, I don't know who we could possibly entrust with such a powerful and important role as the de facto decider of who stays and who goes. In fact, in a game theoretic sense, any third party who didn't have a stake in the company would be an exploitable choice because either my partner or I could kickback benefits to the third party to decide in our favor, and the decider would have no concerns about the longterm consequences of the decision to our company. The only alternative to a third vote decider would be to be able to specify each of our responsibilities precisely enough to be unambiguously interpreted by a court, but that seems intractable given the uncertainties and change that are constantly happening in a startup. Has anyone here dealt with this problem before? Any suggestions on how we can structure this? Thanks! [link] [comments]  |
| How to structure profit-sharing? Posted: 28 Aug 2021 09:33 AM PDT My company is going to begin doing profit-sharing. I have a say in how this is structured. Does anyone have any experience implementing profit-sharing, or can you share what this looks like at your company? We would like the amount to be a be based on a mix of things like seniority/longevity at the company, status (potentially), salary (earned or base, not sure), and maybe some sort of "performance" metric that would be determined by management. Edit: we don't want to base this on equity because most people at the company don't have equity, and will never have it. [link] [comments]  |
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