Startups My cofounder elected himself as a President (but I'm the CEO) |
- My cofounder elected himself as a President (but I'm the CEO)
- How to vet a non-technical cofounder you don't know personally?
- As a startup founder, would you sell % of your future personal income in exchange for funding?
- We’ve just launched our Customer Portal on Product Hunt
- Issue Finding Payment Processor
- Asked to become a co-founder!
- Asking for a raise
- What to do when competitor beats you to it
- First investor who is not a VC firm
- Apple Developer Submissions
- Would angel investors agree?
- [CX] NPS benchmarks for “un-recommendable” product?
| My cofounder elected himself as a President (but I'm the CEO) Posted: 10 Aug 2021 05:00 PM PDT Long story short, I'm the CEO and he's the CTO. I'm not a US citizen while he is. We setup a C-Corp and he says I'll take care of it since being American will help. Honestly, not sure since stripe atlas is quite straightforward. Anyway, I let him go ahead. He elected himself as a President and CEO claiming it will be much faster because he has an EIN already. While it would have taken me months to get one. I've just learnt though that it would have taken days instead with Stripe. Shares have been allocated equally 50/50 and I'm a board member. However, while not on paper I am the de facto CEO. Am I being taken for a ride or are my rights exactly the same being a 50% shareholder (although he is the CEO on paper)? [link] [comments]  |
| How to vet a non-technical cofounder you don't know personally? Posted: 10 Aug 2021 11:17 AM PDT Over the past few months, I've been working on my first startup (Edtech). I've built out an MVP, gotten promising feedback from ~20 initial users, and am ready to go full force on this idea. Till now I've been going solo, and I am now ready to bring on a cofounder. I just connected with a potential non-technical cofounder (who has a great resume on paper) on a startup forum, and we will be connecting this weekend to start exploring a "fit" of working together on this idea. I don't know him personally, but I just found out one of my friends from college went to high school with him, and we live in adjacent cities, so distance won't be an issue. My question is how do I go about vetting him as a good non-technical cofounder? With a technical cofounder I imagine it would be a lot easier to do so; we could just work on a hackathon-esque project over a weekend which would tell me how we would work together, but I don't see any analogous version of that for non-tech cofounders. My current plan is to:
Any suggestions/improvements to my current process? [link] [comments]  |
| As a startup founder, would you sell % of your future personal income in exchange for funding? Posted: 11 Aug 2021 01:55 AM PDT Hey folks. I'm considering investing into US-based founders instead of their companies. And that model is quite unconventional for VC industry (though, it's common in sport management). I'm not sure how US-based founders consider that offer "big money now in exchange for 1-10% of the future lifetime income". US-based only because of IRS integration to track that income, while US-taxpayers must declare all income from any sources, any countries. Need some feedback about such offer in general. If you're US startup founder, could you share: //if you're from the industry such contracts are in use, please, don't spoil 🙏 [link] [comments]  |
| We’ve just launched our Customer Portal on Product Hunt Posted: 11 Aug 2021 01:35 AM PDT Hello Community! I'd love to share our product with you. We've just launched our Customer Portal on Product Hunt. Built with no-code tools, the portal provides effective communication between Processica customers and our team.
Everything customers need to know to get started is here. No installation is required – clients go through a simple sign-up process on Processica's website. After that, they can manage their subscriptions, schedule appointments with project staff, pay for development services, and track work in progress. Follow the link to learn more about the portal. We're counting on your support! Your upvote would be awesome, and please feel free to leave a comment too. Many thanks! [link] [comments]  |
| Issue Finding Payment Processor Posted: 10 Aug 2021 08:41 PM PDT I'm having trouble finding a payment processor that can fit my needs for my startup. Simply put, I want to be able to send a link to a customer in an E-mail. I would then like the customer to have access to a personalized PDF I have assembled once payment is received. Does anyone have any suggestions? Currently I'm having to send an E-mail letting the customer know the PDF is ready with a link to pay, then verifying the customer paid, then sending a PDF. If I could find a payment processor that would only allow access to a personalized PDF upon payment that would save me so much time. [link] [comments]  |
| Posted: 10 Aug 2021 03:48 AM PDT I am being asked to become a co-founder of a startup. It's a 2019 startup with a decent idea targeted towards a particular section of society. They already have a decent userbase with 60k -70k monthly views on their youtube videos and 1M on the website. They recently launched an app and that has some 1K+ downloads. They don't have any business model and are not planning to make one for a while. Revenues are generated from ads on youtube and website. The existing team consists of content developers, business managers and video editors. They don't have any tech lead. All the tech part is done by either freelancer or in house developer. The thing is I don't know any of them. They just found me on LinkedIn and simply asked me to become a co-founder and handle the technical part. This is the first time someone has asked me something like this. Honestly, I will like to join them but I don't know how to figure out if something is sus. Why me? Like they can just ask someone they know. I think I don't even have the required experience. EDIT: Thanks Guys! You saved my time. I just had a meeting with them and they were looking for some cheap labor. They just wanted someone to work on their app at a really low pay and joined the title of co-founder by giving a 1.5% stake. [link] [comments]  |
| Posted: 10 Aug 2021 11:42 AM PDT Hi all, I'm currently a software engineer at a fintech company in Canada and wanted to know if asking for a raise now is being greedy or justifiable. Some info: - 4th hire and now we are 18 - low $M rev, no VC funding - been there for 2 years - current comp is 70k CAD + 1.2% equity (options) - 3.5 years of FT experience, this is my second job Reason im asking for a raise is because ive been at this salary for several years and think ive proven myself as a core engineer over the past 2 years. Range that im asking for is 90-110k, is that too much? [link] [comments]  |
| What to do when competitor beats you to it Posted: 10 Aug 2021 03:20 PM PDT I spent the last few years developing software that's relevant to the industry I work in. When I started working on it, it appeared that there was nothing like it available yet after doing my research. I was looking for something like this to use myself but couldn't find any completed products, only talk and discussion of ideas. Now that I'm approaching a stage where I'm almost ready to release the product, it looks like there's a new company that released pretty much exactly what I've been developing. Now I'm wondering whether or not it's worth it to continue developing my product, given that I've got about 6 months or so left of work to do (working on this on the side along with my regular job). Currently I'm thinking the options are either:
I'm keen to hear your thoughts on this - say you started developing your startup idea and another company launches exactly what you worked on, what would you do? [link] [comments]  |
| First investor who is not a VC firm Posted: 10 Aug 2021 02:44 AM PDT We have a tech. startup which we are shopping around for investors right now. We have a first potential investor who is very interested and after some discussions it looks like he will follow through. It's a private investor ("angel"?) rather than a VC firm. One thing that raised a flag for me was hearing that it's their first time using SAFE or convertible loans in general - previously their "investments" essentially just involved buying out a business or a majority share. Is that a red flag? What are the things to watch out for with private investors? Is there a higher risk in some sense? We have a lawyer who is helping to prepare the convertible loan, so I'm not looking for legal advice. What are the pros/cons of a private investor vs an established VC firm? [link] [comments]  |
| Posted: 10 Aug 2021 07:37 AM PDT I run a tech incubator with multiple projects and a problem we are having is with submitting multiple projects to the App Store. Does anyone have advice on how to submit multiple projects to the App store from one company? We are getting a lot of pushback from the Apple team and we believe it's because we put in so many submits at one time. [link] [comments]  |
| Posted: 10 Aug 2021 08:44 AM PDT We're working on a fintech product and it's almost done. Been working on the product with the team for 8 months now. We're in a country where our economic situation is not the best. If we want to register company in UAE or KSA we need at least 10K usd (here taking uae cheapest with adgm). Suppose Accelerators and incubators are not an option. Is it an uncommon scenario where an angel investor would lend us some money or help us to register the company? [link] [comments]  |
| [CX] NPS benchmarks for “un-recommendable” product? Posted: 10 Aug 2021 07:16 AM PDT It's clear to see that NPS benchmarks are very different between industry, and I assume it does't only reflect how happy customers are happy with products/services (i.e. insurance vs. tourism) - For example, I would assume Cable companies have low NPS scores because it's just not something you often recommend (on top of them all being sucky:)). I recently realised there's an inherent "problem" with my product that makes recommending relatively unlikely, and wondering if there's a methodology to determine where my NPS goals should be. To make things more complicated, my product doesn't fit nicely into an industry. It's an online training program, but I feel like it's closer to SaaS than to "Education". Specifically my product's issue is that a customer is unlikely to recommend it until they get the result they came for, then once they do - they have zero incentive to share the reason for their success as they'd like to appear naturally successful. I'd love to hear thoughts about this - how to determine my NPS goals, or if I should look at other KPI's to measure customer experience. [link] [comments]  |
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