Startups Trying to go from entrepreneur to employee (temporarily) and finding it impossible to get hired by a legitimate company |
- Trying to go from entrepreneur to employee (temporarily) and finding it impossible to get hired by a legitimate company
- Found a suspicious ad of a voice-over startup on YouTube
- How to value an early stage student-run startup?
- Hello, I need your help! Trying to create a startup and doing a market research
- How does one find devs to hire these days?
- I'm going to 'steal' my friends idea. Am i a bad person?
- Seeking advice from experienced start-up founders.
- New Start-Up Scenario + Questions
- Leaving a startup on good terms as a sales rep - is it possible?
- Safest way to go into a partnership
| Posted: 02 Aug 2021 10:48 AM PDT I'm at my wits end and just so burned out. Two years ago when I was 23 my three year old startup failed. I had started it from scratch to 5 employee, hundreds of clients, and a $450k run rate our last year. Long story short we scaled way too quickly and imploded. It left me with almost $90k in debt going into my senior year of college (it took me 5 years to graduate). I've never had a "real" job before. I've never had a "boss". I've been an entrepreneur since I was 17 years old and selling fishing lures that I made online. In the last two years I've paid off almost $30k in debt just freelancing and hustling but I'm exhausted. I have $60k left to pay. The stress of not knowing where the next dollar is coming from to make the next debt payment is killing me. Even paying the $500 in rent my parents charge me (yep - still sleeping in my childhood bedroom) has been an ordeal. I've never missed a month in two years though and always somehow pay it by the skin of my teeth without letting on that I'm struggling. I thought I'd be able to find relief by taking a job with young companies with entrepreneurial cultures. It's just made things so much worse. All I get reaching out to my network (which is all entrepreneurs) is offers to work on performance. I had a call with one an hour ago and he told me I was a "wild animal" and not "employee material". He was like "I know you need money but I'll give you the opportunity to come work for me on performance". I'm working for a new division of a startup. I started in May after being recruited by one of the co founders. I was schmoozed by her and all I heard was how much they needed me and how I'd be able to to "chase the opportunities they want to purse but don't have the time for". I was "hired" (never got a contract though) at $50k a year. In June I flew out to meet them. I later found out that they expected this new division to start generating revenue immediately and thought they'd be able to pay me from that. I guess they weren't expecting to pay me from the successful company. I took a pay cut to $2k a month. It's better than nothing I told myself and would still take a little pressure off financially. They paid me $4k at the end of June and basically said "Here you go. This should last you through the end of August". That covered a month of debt payments and rent. I'm back to worrying about the next dollar. I'm honestly just sad and depressed. I've resisted a "corporate" job with set hours having not worked for anyone before but at this point I think I have to. My parents want me out and "on my own" by the middle of September which makes it even more stressful. Has anyone ever been through anything like this when it comes to going from being an entrepreneur to an employee (even temporarily)? [link] [comments]  |
| Found a suspicious ad of a voice-over startup on YouTube Posted: 03 Aug 2021 02:22 AM PDT As a startup enthusiast, I am always on the lookout for new and interesting startups and ideas coming into market. Recently on YouTube I saw this ad about a new AI driven text to voice convertor (https://speechelo.com/) . Going through the web page, I found it a little suspicious, as there was no free trial or monthly subscription. I need help to figure out if this is a genuine SaaS service ? If not, then how to recognize if a service is legitimate and not a scam ? [link] [comments]  |
| How to value an early stage student-run startup? Posted: 02 Aug 2021 09:52 AM PDT Hi everyone, I made a post a couple of months ago about how to maximize time in an accelerator, and thanks for all your suggestions - we had a very productive time. Now, as part of the accelerator, we have an upcoming demo day where we'll pitch our company to a room full of angels & investors. Again, for some context: I'm a high school student running a pet-tech startup with a team of teens. We've run a successful Kickstarter ($10k+) and are currently D2C with B2B partnerships. The main reason we are raising capital is to fuel exponential growth - we have many who want our product, but no capital to fund POs. We've already put together a solid deck (pm me if you want to check it out), but our main concern is with the ask slide. Obviously, early-stage valuations are difficult. But with the added barrier of being a 17-year-old, do you all have any suggestions for justifying a certain ask from investors? Thanks in advance! [link] [comments]  |
| Hello, I need your help! Trying to create a startup and doing a market research Posted: 03 Aug 2021 01:15 AM PDT I am looking for farmers who will spend a few minutes writing about their needs and problems related to crop management. I'm working on automating and solving the most common issues. If you know any farmers, please share the survey with them! https://forms.gle/378X4NQvezNh5yjq5 I find it hard to reach out to any farming groups since they're very private and isolated. Do you know any ways to get trust from such groups? Also, here is our first version of the website: https://smartfarm.link/index-en.html I know there are similar solutions on the market already, like https://www.dtn.com/, https://climate.com/, https://operationscenter.deere.com/. We want to create a slightly different solution, a "hub" for all devices available on the market. We don't want to create another separate, isolated solution. We want to be connectors of everything available already. [link] [comments]  |
| How does one find devs to hire these days? Posted: 02 Aug 2021 02:21 PM PDT Earlier this year one of our 2 devs quit the job. Since then we've been trying to fill his position with no luck. The budget we have for the yearly salary is $80-$100K. We've also been trying to bring on another dev and haven't had luck with that either. Not even getting applicants. Today our 1 dev put in his 2 weeks notice and we'll essentially have no devs in 2 weeks. I don't know what to do. $80K-$100K is a lot of money for us, and I'm surprised that we can't even get people to apply to the job. As I said we were trying to build a team of 3 people, and now we have 0. Any advice will help. [link] [comments]  |
| I'm going to 'steal' my friends idea. Am i a bad person? Posted: 02 Aug 2021 11:40 AM PDT Honestly with this post i'm just seeking your council. A few months ago a friend (call him john) came to me with the following idea: Create a business which allows people to buy things from Amazon / online retailers with bitcoin. I then explained to him the best way to go about doing this from a practical and developerment perspective. Fast forward a few months, myself and another friend (call him craig) where looking for a project and i said 'i wonder if JOHN is still interested in making this idea. Turns out his was, He wanted to do the business side of things (and be the major shareholder) while me and my friend (Craig) (who are developers) focus on the product. I was worried he wasn't aware just how much work it would take so (as he had never done this before), I began to explain to him that we would need to get some funds together, T&C's, Business bank account, Incoperate just general business things. He then backed out and said he didn't want to presuse it. A few weeks later, After speaking with another friend of mine (who has run many startups, Call him Bob) he said he would be happy to fund this idea & handle the Business end (mostly) as he had done in before. This is where my moral conflict comes into play, I know there is no legal issue with thiis. But i contact JOHN because we are friend and say 'Hey! I respect your choice to pull out of the idea, however, i found someone (Bob) else who is willing to Fund it & Handle the business end' (I'm paraphaseing i was much softer in my messaging but WITHOUT JOHN) He then begins to rage at me about Stealing his idea from him and that he wants a piece of the business. I know that if i presuse it, it will cost me a friendship. My moral compass has taken a beating today, i don't know if i'm in the wrong or not, so i came here for guidenece. [link] [comments]  |
| Seeking advice from experienced start-up founders. Posted: 02 Aug 2021 08:38 AM PDT Hello everyone! I am 27M from Europe that came up with an idea for a social media app. Since I am completely a newbie when it comes to start-ups, I have a lot of questions and would appreciate hearing what you guys think and if you have any advice. In 2018 I decided to start my own business and now is going well, and I would say that I spend around 7-8 hours working every day.
I apologize in advance if you find any of the questions dumb, but as I've mentioned above, I am a complete stranger to funding and start-ups in general. Hope you are having a great day! [link] [comments]  |
| New Start-Up Scenario + Questions Posted: 02 Aug 2021 02:07 PM PDT Hello folks... Rather new to reddit so hopefully I'm doing this right... I'd like to start by saying that I am way more of a tech person (20M, CompSci senior) than a business person. While sitting on the patio one late evening while pondering how I wanted to stay away from the classic 9-5 cubical world after a long day working as a data analyst intern, I overheard a bunch of people complaining about not being able to do something, and realized that I could create the basis for a perfect solution (mobile app) that can be and would be utilized by most people for the demographic (app would follow a mix of paid account revenue - not required for full app usage - and ad revenue generation). I immediately did some research regarding a sole proprietorship vs LLC and settled on an LLC, wanting the liability protection (company is based in Michigan). As of now, I've started doing some early design art, have a giant doc of specifications, bought a domain and have a website for the next two years, filed a provisional patent on a new tech concept that this app would use, and got an EIN from the IRS for banking purposes (have yet to open an account). Looking to hire someone to develop a pitch deck so I can pitch my idea to a software firm I'm interested in partnering with (this project is way too big for 1-4 people minimum and I'd rather just outsource maintenance anyways). Going forward are there any things that I should focus on to bolster my chances of success? Additionally, how do I go about setting up paying myself so I don't pierce the veil and leave myself vulnerable? I know for the purposes of tax filing, I can just file this LLCs taxes with my own as its single-member, but I don't know how to handle monetary stuff in day-to-day ops. Would appreciate any feedback or suggestions for someone like myself who's completely new to the business management world. [link] [comments]  |
| Leaving a startup on good terms as a sales rep - is it possible? Posted: 02 Aug 2021 03:32 AM PDT I've been working as the top performing account executive (by a large margin) at a Series-A startup for the past ~2 years, and I've recently accepted another job offer with a start date at the end of the month. Best practice says you put in a two weeks notice, but at the last two startups I've worked at every sales rep that puts in the notice has to stop working within two days (still don't fully understand why, but I assume its to protect company pipeline). I'm not going to a competitor, as I do have a noncompete. The startup I'm working for today is heavily reliant on me because I've been the consistent top performer, and I have some substantial deals in the pipeline due to close in August that can make a huge difference for the organization. I'd like to help close them out even though I'm sacrificing the potential commission paid. I negotiated a signing bonus at my new company to help offset the lost commission. My biggest concern is leaving on bad terms. I have a great relationship with the VP of Sales, who a few months ago told that I'm here for "the long term." Things change, and the offer I've accepted has a much better package and growth trajectory is exponentially higher - something I couldn't pass up. My current CEO and I also have a lot of mutual respect, and I don't want to impede on that either. He's been relatively "hostile" towards reps that left in the past. Me leaving is going to be a big blow. I'm not keen to missing out on any time working/missing on paychecks. So the big question is - do I put in my notice on the 15th and tell my boss I'm willing to close out the month (risking getting the boot a day later), or do I break the news two days before my start date? How can I leave on good terms in this scenario? [link] [comments]  |
| Safest way to go into a partnership Posted: 02 Aug 2021 10:35 AM PDT Hi all, A friend has asked me to go into a partnership with him, but I don't want to he tied down to anyone should anything go wrong and we fall out. What's the safest way to go about this? If we fall out for an example I want to be able to walk away without the hassle involved for an example if it was a Ltd company. Any advice would be appreciated [link] [comments]  |
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