Startups How to overcome fear of talking to people to sell my product? |
- How to overcome fear of talking to people to sell my product?
- Double (Triple) Import Tariffs (Estonia, Germany, US, China)
- BCP (Business Continuity Plan) / DR (Disaster Recovery) template
- how do I negotiate compensation for use of personal equipment?
- SAFEs in Seed Round
- Start off with multiple target user types?
- Starting an LLC across multiple states (remote business)
- Does Scale = Success as an entrepreneur?
- What if you have an amazing app idea but have no resources to execute?
- Looking for personal adivce
- How to set up W2 for a technical cofounder with no money
- GTM Strategy Needed
- Innovation Platform Customer Discovery
- Adding extra cash to our start up and impact on equity
- Products that don’t fall under states cottage food program.
- How to manage developers
- Anyone into semiconductors SOC design startup?
| How to overcome fear of talking to people to sell my product? Posted: 08 Sep 2021 01:23 PM PDT Hi all, I am working on my startup and I need to win some businesses for my platform. I just realized I am a bad salesperson, like really bad. I hate to call my potential partners, because I am afraid I guess. So my potential clients are store owners. So I would call the store and I am facing a gate keeper. I did it a few times and they always rejected me. I was pretty nervous, even if there is no real reason to be. But the owners are never there when there is no peak in customers, but that is another problem. I just realized I am pretty afraid of doing the sales work. Maybe because I do not want that they think I am an idiot or the product is bad. I observed myself for the last 3-4 weeks now and realized I am a guy who likes to write an email instead of calling. The weird thing is, I am a pretty good public speaker and had a lot of successful presentations. So I think I really need to overcome my fear and wanted to ask if some of you had the same issues and if yes, how did you overcome them? I need to talk to people, because hoping that they find me from themselves is pretty bad as a founder. Maybe it also makes sense to train that skill in general. As a first step I will try to call for appointments etc. Instead booking them online. It is a small step but maybe it also helps. Hope, that you have some ideas for me. Thanks Jan [link] [comments]  |
| Double (Triple) Import Tariffs (Estonia, Germany, US, China) Posted: 09 Sep 2021 01:03 AM PDT Hi, How can I avoid paying import tariffs more than once? I'm launching a product that I'll be selling internationally from a US-based pick-and-pack center. The components on the bill of materials are being manufactured in China. We're a company based in Estonia. The parts will be shipped from China to Germany for assembly. Then shipped from Germany to the US for warehousing. Then shipped to the customer throughout much of the world. My general understanding is, though items will have to cross many economic borders, the shipments should only be charged a tariff once: when imported into the country where the final consumer of the product lives. Is that correct? Now, my original sample shipped from China to Germany, and customs charged a fee for importing it. My fear is that they will do this again when the actual bulk order comes-in. And then again at the US-border. And then again when it is imported again into the EU for (eg) a French customer. How do I properly navigate these international logistics between China, Estonia, Germany, and the US to ensure that these shipments are not getting taxed more than once? [link] [comments]  |
| BCP (Business Continuity Plan) / DR (Disaster Recovery) template Posted: 08 Sep 2021 10:17 AM PDT Hi, Is anybody aware of a good template, resource to start a BCP/DR document (poasibly ca. 10 pages) for a small/med business ca. 400 employees offering SaaS (actually software platform where physical Service can be bought) Can be reasonably priced/paid. Thanks, [link] [comments]  |
| how do I negotiate compensation for use of personal equipment? Posted: 08 Sep 2021 11:19 PM PDT I'm a developer considering joining a startup company on an hourly contract, but they're saying I would need to provide my own computer and full WFH setup. Is this common in the startup world? I've asked about gear allowances/bonuses or adding an amount to my hourly rate, but they've brought up concerns that any financial compensation would be taxed. What are my best options in this case? [link] [comments]  |
| Posted: 08 Sep 2021 09:33 PM PDT Hi everyone, I am a noob to this space, but I am trying to get my head around it all. I've been thinking about issuing a SAFE for my startup, but I have a question, albeit it may be stupid. Let's say Investor A is willing to give me $1 million in my seed round on a SAFE with a valuation cap of $10 million and no conversion discount. What is stopping me from getting my next investor (Investor B) to undervalue their proposition in the priced round, so that Investor A's shares are priced higher and subsequently reflect a lower share of equity? For instance, Investor B also gives me $1 million but we "determine" the business is only worth $5 million, so I give him a 20% stake. I've also set up a partnership holding company with B whereby it's both in our interests to undervalue Series A so that I retain a substantial share of equity, and B receives a more conservative share price & a greater share of equity via this parent company. My startup has now been valued at $5 million by B, so A's share price is $2 (Valuation Cap / Official Valuation in Series A), leaving A with a 10% stake, and I am left with whatever share of the parent company I decide to forgo to facilitate the deal with B. I am seriously out of my depth here, but it would seem to me that SAFEs expose the seed investor to extreme risk. Is this situation plausible or have I missed out a vital piece of the puzzle? I would love to hear anyones thoughts, but please go easy on me! Thank you!!! [link] [comments]  |
| Start off with multiple target user types? Posted: 08 Sep 2021 08:29 PM PDT I'm working on a tool for professional development in the engineering space. The foundation is a capability map that gives a visual and atomic view of the work. (Reddit-hosted image). It's different from anything people have used in this space. But the concept as a static piece (just an image for people to follow) has had positive traction in terms of downloads. I want to take it to the next level, but my concern is that the static version might be sufficient enough for individual users. They might not care to plan their career path or log their learning for resume-building or political capital (get visibility for promotion) purposes. The potential for team leaders in this space could be high. Most of their capability planning is currently a hodgepodge of Visio version control of org charts, face-to-face meetings, negotiation docs etc. The difficulty is sourcing team leaders to look at even the static map as a concept. But if it means they will use the tool once I get their attention, it'd be worth it. I'm valuing my efforts and time, and not any monetary potential at this stage. So could I be diluting the initial value of the tool by targeting individuals and teams at the same time? [link] [comments]  |
| Starting an LLC across multiple states (remote business) Posted: 08 Sep 2021 08:56 AM PDT I am looking to start an LLC with 2 other business partners. We are spread across 3 different states (PA, CA, & CO) and are interested in forming our domestic LLC in Delaware given that our business does not have a 'home' state and we like some of the benefits that DE offers. Our plan is to speak with lawyer to discuss topics such as: selecting our domestic LLC state, establishing what foreign LLCs are needed, etc. We would like to form our business soon so we can open a company credit card and start separating our business expenses from our personal expenses. All that being said...how should we go about finding a lawyer that can help us given our remote-business approach? Would an online LLC service that provides attorney services be able to help or should we seek out a business law firm that can satisfy our needs? If the latter is recommended, are there any tips on how to find the right lawyer for our situation? [link] [comments]  |
| Does Scale = Success as an entrepreneur? Posted: 08 Sep 2021 06:39 PM PDT I'm curious what your thoughts are on this… It's something I've struggled with in terms of mindset and goal setting as an entrepreneur. When I was immersing myself in the world of entrepreneurship 9 years when I was 17 everything I read 💩 on what they called "the little entrepreneur" I was basically indoctrinated that a bigger business meant greater success and that scalable business was the only thing that mattered. Looking back it really messed me up. One of the first books I read was at 17 was Rich Dad Poor Dad where Robert Kiyosaki basically poopooed small businesses and the self employed. According to him you could never truly be "free" with a small business and that freedom and financial independence only came from a "big" business. Then I read books like the Millionaire Fastlane that reinforced that even more. Focusing on scale lead me down a path of discarding and giving up on businesses I was passionate about. It lead me to push new businesses too far too fast. It took the fun out of business. I had this realization over the weekend. I was writing a sales letter for a friend. The words were flowing and I was really enjoying it. I thought to myself "I'd love to do this more often but I can't because it's not scalable" I'm curious what you all think. Does scale = success as an entrepreneur? [link] [comments]  |
| What if you have an amazing app idea but have no resources to execute? Posted: 08 Sep 2021 05:58 PM PDT Hey mates, I know in this community there's are lots of people with amazing ideas. But what if you can not do all the work yourself? One of motto in my personal business is "Always Hire Someone "Better" Than Me To Do Work". "Better" in this scenario means have more experiences. have more time,... Today I would like to share some experiences related to software outsourcing. When a company chooses to have specific software solutions created by a third party, this is referred to as software outsourcing. Outsourcing software development offers many benefits, including cost savings, increased productivity and reduced time to market. Sometimes, it offers you time to focus to things that are more important such as marketing, market research, .... So how to find the right software outsourcing: Step 1: Define software outsourcing landscape: It is critical to understand the many kinds of software outsourcing firms that exist. When you fully understand what is available, you will make a good choice. There are 3 common types of software outsourcing for SMEs such as (definition on GOOGLE please)
Step 2: Framing and scoping your project: When choosing a software outsourcing company, it is critical to scope the project. Imagine telling a waitress you want something savory and receiving a sweet meal. Some people may like it in a restaurant environment, but not so much when it comes to software. Spending time deciding what you want to purchase can only benefit you in the long run. The more preparation work done ahead of time, the more accurate the estimate and expectations from the software development firm will be. Without a basic framework, it is impossible for an agency to estimate the cost of a software project, which is why it is critical to specify the scope of your project. Step 3: Researching and contacting software development company: Basically you should go through 4 stages:
Step 4: Selecting, negotiating and contracting How do you choose one? This may be particularly difficult if you like all of your choices. Plan to finish the decision-making process in less than a month.
Best countries to do software outsourcing to (based on my experiences): cost-saving & you have good quality-work
Above is my experiences about software outsourcing. Please share yours here too. [link] [comments]  |
| Posted: 08 Sep 2021 05:18 PM PDT I've been a long time lurker and reader of this sub and similar subs (5+ years). I'm looking if someone else has been in my position and has any advice? I'm a simple person and don't have many issues. I live an already comfy life with a high salary, pretty much 0 issues and no daily / yearly problems (the American dream or whatever they call it). Part of me has wanted to do a startup / business for many years now, but my only motivation would be the money potential. I also am very minimalistic and buy nothing outside of food, cloths, and housing unless its essential; the rest I invest. 99% of the time I don't get why people buy things from a company or the value it provides and I have a very large disconnect from the average person on what they value to their own lives (unless its free I don't use it pretty much and even then I'm almost not bothered to use it). I don't understand other people's problems is what I am trying to say (even if I ask them). I can't think of anything I could build that I would be excited to spend my own money on either. I feel as though my mindset is the worse possible for an entrepreneur and even more so for a startup founder and it would be a waste of time to go down this path. Maybe its best I just stick to my 9-5 or just buy existing businesses and make a conglomerate of some sort. If someone has been in my shoes and found a way to guide their mindset forward please let me know. I have an urge to do this, but not sure why. Looking for some support if possible and feedback to guide me. [link] [comments]  |
| How to set up W2 for a technical cofounder with no money Posted: 08 Sep 2021 04:11 PM PDT Hi! I have cofounded an early-stage startup. We are applying for an SBIR grant, and the terms of the application require that the "technical lead" be a W2 employee for at least 20 hours a week. We have no money as a company to speak of, and the three of us as confounders are fortunate enough to be able to work on this without pay for now, as is common in startups. The requirement is rather odd, as it's a grant specifically for early-stage startups. It would make more sense if that was a commitment upon receiving the grant. But in any case, is there a way to set him up as a W2 with $0 salary? Or make his compensation be the equity he'll have in the company? Or something else? Thanks! Edit: just to clarify, I'm not looking for tax advice or anything. I'm just trying to see what other entrepreneurs do in this kind of situation. [link] [comments]  |
| Posted: 08 Sep 2021 03:09 PM PDT So my team and I are building this relocation networking app designed to help people move to new cities. I'm the only on the team with a little marketing/sales background, however, I'm having trouble thinking of creative ways to reach my target users (people who are planning to move 30-90days out). I've joined a ton of "moving to" Facebook groups but limited to pitching due to ad rules. I've also been contacting apartment communities (via email/contact form) to see if they would be willing to offer our product to their tenants who don't plan to renew their lease. Haven't had much luck, although I know I should be calling by phone instead. Any tips on how to reach people that are planning a move? [link] [comments]  |
| Innovation Platform Customer Discovery Posted: 08 Sep 2021 03:04 PM PDT I have a very simple hypothesis, namely: Innovation is slow, costly and difficult because people's individual and collective intelligence is squandered. I've conducted a handful of customer interviews and have more or less validated the first part. While I am interested in making innovation faster, cheaper and better for organisations, the term is quite nebulous and means different things to different people. Innovation could be as simple as an improvement in some minor internal process, or could be as complex as a major technological discovery that significantly disrupts mature markets. I believe that the breadth of my focus is making it difficult to conduct meaningful customer interviews and discover for whom, in terms of narrow market segments, innovation represents a deeply painful process. How can I revise my hypothesis? How do I identify some subset of innovation or innovation management that is narrow enough for me to conduct meaningful analysis in my customer discovery? [link] [comments]  |
| Adding extra cash to our start up and impact on equity Posted: 08 Sep 2021 02:26 PM PDT We launched a start-up 15 months ago with following equity structure: Founder A (me) - unsalaried highly qualified full-time CEO , 50% Founder B - start-up was his idea, no business involvement, but was in charge of raising first funds, 25% Founder C - early $50k angel sourced by Founder B, no business involvement, 25% We were planning for business to take off in 12 months. It didn't. Business is growing with great market feedback but looks like we will need full 24 months instead. Now, we need to raise additional $50-100k and Founders B & C suggest that we pitch in pro-rata to our shares + I carry on as unsalaried CEO (because I'm very enthusiastic and because there is no available alternatives to me). My immediate reaction is I don't think it's right for me to contribute 50% of the funds and extra 12 months of employment. But at the same time, I'm ready to drive through the wall for this business. Any negotiation ideas/thoughts from dear Reddit? [link] [comments]  |
| Products that don’t fall under states cottage food program. Posted: 08 Sep 2021 02:04 PM PDT Does anyone in Arizona have any experience going through the FDA for home made wellness products? I want to turn my hobby into my business but I'm having trouble understanding where my product would fall. I've left voicemails for both my states cottage food program, even though my products don't fall under the approved category and I've also left a voicemail at our local FDA office here. However, I'm hoping there might be someone with experience on where my jumping off point should be. The products are magnesium lotion and elderberry syrup/tincture/gummies. Thank you in advance! [link] [comments]  |
| Posted: 08 Sep 2021 03:11 AM PDT Hey everyone I have a strange dilemma in front of me and maybe quite a few of you have faced this problem. We are 2 non tech founders and we have a product built on react and python. We have gone through so many agencies and freelancers and we keep on changing them because they either cost a lot or are too slow or don't do the job to the right standard. Every such change has costed us so much emotion and and time and has really slowed us down. Every new person needs to fimiliarise themselves with the project etc. We have made the decision that we would like to get somebody on a more permanent basis. Ideally we would like to have 1 full stack or 1 back end + 1 front end devs. Do you think an arrangement where a person is "hired" and gets paid by the hour and works only where there is need for something to be done would work? And als since we dont have any technical background how do I track if the tasks we request actually take the amount of time that they suggest it would take? [link] [comments]  |
| Anyone into semiconductors SOC design startup? Posted: 08 Sep 2021 08:05 AM PDT Kindly share how did you begin working toward structuring your idea to a company? Being a SOC design company requires an exceptional team and too many resources, from design to prototyping. I believe in the ecosystem may be favourable for startups, still, it should be an uphill battle for anyone in this space. Even the SOC categories have a lot of product segregations, like MPU SOCs, MCU SOCs, specialised IC SOCs etc... thus the field being quite dense in itself.. I am toying with an idea on the same topic but finding it hard to get a headway in this direction. thanks for any thought and suggestions... [link] [comments]  |
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