Startups How to fail badly... |
- How to fail badly...
- COO demanded to be chairman - update!
- App developers, how do you support your userbase?
- Round B SaaS Company, looking to hire Head of Technical Support - where should he be located?
- How do I write a buisness proposal?
- Agreed to a startup sale price but now have a higher offer. What to do?
- How to navigate non-competes?
- How to find a project that I will enjoy working on?
- Capital Raise Questions
- How do you play office politics at a startup?
- Job-related problem: How can we hire more food delivery drivers in a market where no one wants to be a delivery food driver?
- Hey, what's wrong?
- What to include in "Literature" for a Co-founder
- How to purchase stocks late? (stripe startup)
- Selling Stock via Forward Contract
| Posted: 03 Sep 2021 07:15 PM PDT I figured this would be the time to show how to do it all wrong. All personal experiences. I'm a technical person, a problem solver. So therefore I attract idea/financial people. Sounds good right? Right off the bat I got contacted by a previously popular promoter of bands, events, venues, etc. Used my skills to create detailed maps of the venues, figured out traffic flows of customers, and even where to put "pay points" for income. The suppliers of such sites were literally blown away with that information. Secretely my boss was getting paid for this. Did we ever do an event? No, I was basically a data whore. Lost income incalculable. So I stopped that. Then I got a call on the tech side for a power generation project. Cool, I love that. It was hydro power with a very complex system. That part wasn't too hard to solve. But I ended up having to literally design the entire thing from the ground up with simulations and provable data. Yep, I was going to end up building the real world prototype myself. Massive pay offerred, of course to get that done. Fast forward a few months and a fully completed design was done. Then it came down to 100 investors(wait when the heck did they show up?) wanting to see the prototype working. Then I realized "I haven't seen a dime yet". Straight up asked for only prototype money, was fine on waiting on dev money/share money/etc. Nope, that didn't happen. Thank god I didn't transmit the finished plans for a production model. Lost income unknown. In both cases my "boss" was very friendly and asked for verification of skills. Which seems o.k. But the reality is that often your portfolio is a sellable asset. Especially if you really put in the work to prove yourself. [link] [comments]  |
| COO demanded to be chairman - update! Posted: 03 Sep 2021 01:18 PM PDT Hi everybody. So I have an update regarding the COO demanding to be chairman of the board and refusing to report to anybody now or in the future. It turns out he doesn't want to be a C-level exec at all, and just wants to be the chairman. His role right now was to be setting up the business and marketing but he knows nothing about Google Ads etc which surely somebody in his position should know (or at least he familiar with!?). He's difficult to get ahold of at weekends and in the evenings. 20 years older than the CEO and 10-15 older than me. He thinks not having a chairman of the board is "whacky". What does that even mean? I expect fairground rides to be "whacky". He mentioned a co-CEO, so clearly he's contradicting himself here? He said doesn't want to be a C-level exec! It seems to me he just wants a third of the company to "advise". I really don't know what he brings other than life experience and wisdom. It feels like he wants power and authority for doing not a lot. The MVP is some way through now and we do have an interested investor once it's ready. We have a huge roadmap of features etc. I want to cut him out completely and find a replacement, but the CEO is keen to keep him on at around 5% shares for his business knowledge. I just feel his attitude and demands are disgraceful and it's cultivating a poor company culture. If the CEO panders to him now, then he'll know he can get what he wants in the future. Without sounding arrogant, I believe we could find a worthy replacement quite easily. What do you guys think? Thanks all! As always I appreciate your advice ☺️ [link] [comments]  |
| App developers, how do you support your userbase? Posted: 03 Sep 2021 11:17 AM PDT I'm currently working on an app that makes it easy for anyone to make music without any fancy recording equipment or studio. I'm curious how folks on r/startups support their userbase and encourage them to stick around? It's very important to us that we uplift and support our creators to be successful with the app. [link] [comments]  |
| Round B SaaS Company, looking to hire Head of Technical Support - where should he be located? Posted: 03 Sep 2021 04:01 PM PDT Host raised round B funding. The company is based outside of the US, and only sales and marketing and based in the US. All of our customers are F100 enterprises in the east and west coast. We have no dedicated support function and it is time to recruit one, and have it build a solid support team. Should we hire the one to found the team to be in the US, or outside of the US in the same location as R&D? Pros and cons I see for having him one US: Pros - Better coverage for US working hours, close to sales and SEs so available for escalation. Cons - Far from R&D, which means it will be a challenge to learn the technology and firm a good relationship with engineering, may have an impact on how independent he can be. Looking for any insights from experienced folks on this! [link] [comments]  |
| How do I write a buisness proposal? Posted: 03 Sep 2021 01:12 PM PDT I am speaking with a lawyer and he requested one. He is registering the company with the government. When I spoke to him I felt really stupid and unprepared, with no connections to my company. What do I do to seem competent without going into too much detail to the point where I seem like I am rambling? [link] [comments]  |
| Agreed to a startup sale price but now have a higher offer. What to do? Posted: 03 Sep 2021 12:59 PM PDT I am currently selling a business, and made a gentleman's agreement to sell the company to someone for price X. We are currently going through the logistics of the sale with this buyer, but nothing has been transferred over yet and no money has been held yet. In the meantime, I have received another offer on the business for significantly more money. How would you navigate this situation? My gut instinct is to stick to my word and give the opportunity for the initial agreement to close. Any advice would be greatly appreciated! [link] [comments]  |
| Posted: 03 Sep 2021 05:30 PM PDT From my own experience one of the best ways to start your own business when young is to first join a company in your target industry, learn the ropes on someone else's dime while identifying ways to take the business to the next level, and then start your own business with that validated market knowledge (as well as hopefully a strong, relevant network). However most companies will have strong non-compete language (whether enforceable or not) in their employment agreements that generally will not be negotiable. And when it comes time to pull the trigger to start your own business those non-compete clauses can be scary (it was for me). Does anyone have advice on how to navigate these kinds of non-competes when taking the above approach? [link] [comments]  |
| How to find a project that I will enjoy working on? Posted: 03 Sep 2021 03:03 PM PDT Hey guys I'm a web developer and I enjoy working on side projects and startups that one day might get big. But I don't like working on ordinary projects, projects that are all over the place, for example dating, social networks, forums, message apps and such. I like working on something that's unusual, crazy, weird, simple. So far I've tried industries like cannabis, adult, crypto and other industries that are not so mainstream. What would you suggest for me, maybe there is something out there for me that I'm not aware of. [link] [comments]  |
| Posted: 03 Sep 2021 08:17 AM PDT What does Qualified Conversion mean, and Note conversion at maturity, and does these numbers make sense? Security: Convertible Promissory Note Amount: Up to $1,000,000 Qualified Conversion: 25% to the next Financial Round Note Conversion at Maturity: $10,000,000 Valuation Quarterly Interest: 5% beginning January 2023 [link] [comments]  |
| How do you play office politics at a startup? Posted: 03 Sep 2021 01:50 PM PDT About 2-3 months ago I started a new role at an up-and-coming FinTech startup. I am in a fairly unique position where I am a key individual contributor and am the Head of a department. As with most startups, we have a relatively flat structure with less than 100 employees, but I have aspirations to be a people manager when the opportunity arises. I am eager to climb the corporate ladder and become a senior member of the team, though I am new to this type of environment. I would like to get some insight from the /r/startups community to help me navigate the office politics and play this thing correctly. I don't have a mentor at the moment, and am hesitant to share specific details online, but I would really like to get some help in learning how I can take advantage of this opportunity and thrive. Any resources or direction would be greatly appreciated. Edit: ok clearly the phrase "office politics" has ruffled some feathers. I did not mean it in a sinister, cut-throat sense. I am simply asking for career advice for how to be as valuable to my peers as possible. Some of the responses in this thread have really upset me. [link] [comments]  |
| Posted: 03 Sep 2021 08:07 AM PDT I work for a food delivery company in a city where our unskilled labour force has dropped dramatically in the past couple of months. This has made it very difficult for us to find people who want to be food delivery drivers because most skilled folk don't really want this job and, as you can imagine, our demand hasn't slowed down because of COVID-19. My solution: I've thought about changing the profile of the driver we want to attract. Basically, looking at working folk who want to make extra cash over and above the ay job they already have. I asked the question here because I wanted to see what some of your brilliant minds would suggest I do to tackle this problem? [link] [comments]  |
| Posted: 03 Sep 2021 03:00 AM PDT This is /r/startups emotional support thread. There will be no problem-solving here, no judgement, no networking, no advice. We're here to be heard, be understood, and be told that it'll be okay, that whatever happens, we care. Still, be tactful and classy in how you vent your feelings and share your frustrations. Act in a mature manner. This is meant to be a safe place to support emotional and physical health and there is a zero tolerance policy in effect. Be kind. Please report any conduct that is in violation of that key tenet. Howdy there. Did you have a rough week? It's certainly been a rough year. Did you get in an argument? Have a problem? Tell me about it. What's wrong?[link] [comments]  |
| What to include in "Literature" for a Co-founder Posted: 03 Sep 2021 08:57 AM PDT Hello everyone. I approached a potential Co-founder with a spoken proposal to Co-found a tech startup I've been working on. His response was that I send him a "Literature" regarding my proposal. I told him all I have is a working prototype of the product but I can come up with what he's requesting. To anyone experienced in this field how do you right a convincing Literature and what do I need to include in my right up? [link] [comments]  |
| How to purchase stocks late? (stripe startup) Posted: 03 Sep 2021 12:37 PM PDT Hi, I have a startup company I founded through stripe. It's been about 3 months since I've been incorporated and I procrastinated purchasing my shares. I understand how to do it (send check to my company bank account + cash it) but I am worried that since a bit of time has passed, that it might cause some problems. I'm also wondering how to know that the process has "worked". There's been no activity in the business however. Is there anyone who could please advise? [link] [comments]  |
| Selling Stock via Forward Contract Posted: 03 Sep 2021 09:20 AM PDT Good afternoon, Has anyone sold private stock via a forward contract? Looking for some guidance on selling some of my startup stock options via forward contract as there are company restrictions on selling/transferring these shares. Thanks in advance! [link] [comments]  |
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