Startups My website was just built with AngularJS |
- My website was just built with AngularJS
- How to ensure I get paid as a minority partner?
- How to validate startup ideas just by using landing pages?
- What's the reason for making a waitlist for easily made SaaS product?
- Founder Skills: Should You Learn Copywriting?
- Help, my cofounder is asking for more equity
- 50/50 arrangement dissolved before even reaching launch. Founders go their separate ways, my experience.
| My website was just built with AngularJS Posted: 05 Nov 2021 08:01 PM PDT This is my third startup and I feel really good about the potential success of our managed marketplace in the outdoor recreation industry. Four founders, and we gave what seemed a trustworthy team in India $15k to build a fairly complex 6 page website that includes customer login and data queries. However, I am just realizing that it was done with AngularJS. I am not the technical cofounder, and had someone else look at the site who brought this to my attention. Apparently AngularJS is going end of life at the end of this year. Does anyone have an idea if I should change to React or Angular? Should we do it now or later? We are launching the MVP in three weeks when the site is basic site done as they are finishing up design features, responsiveness, and bug fixes right now. We have three more releases already mapped out if we get traction, all told we are prepared to put in another $60k-$100k into the site over the next year (more if things go well). [link] [comments]  |
| How to ensure I get paid as a minority partner? Posted: 05 Nov 2021 06:05 PM PDT I'm in the fortunate position to be joining a new Aircraft Charter startup where I expect to be a minority share holder (<33%). I will be leveraging my industry experience and sweat equity in exchange for a larger, but albeit still minority stake. I am not concerned in receiving a W2 salary early on, or maybe even at all. I'd like to be paid via dividends or profit sharing. So my question is, as a minority shareholder, what can I do to make sure that I will get paid? In theory, the majority share holder could just decide not to pay dividends. Could something be written into our partnership agreement or corporate documents? Additionally, how can I protect the value associated with my equity? [link] [comments]  |
| How to validate startup ideas just by using landing pages? Posted: 05 Nov 2021 04:18 PM PDT Hey guys: I am currently building an edtech platform, and I was wondering how to validate this startup idea by just using landing pages? I have built the landing pages and do I have to validate my idea in form of ads or directly talking to potential users? And how would I know if it is a good idea? Any feedback is appreciated! Thanks guys. [link] [comments]  |
| What's the reason for making a waitlist for easily made SaaS product? Posted: 06 Nov 2021 01:44 AM PDT I sometimes see a waitlist for a very easily made product (unlike a hardware). What's the point of doing it? I'm making my SaaS product but have not yet launched. I have just a few potential users. I'm wondering if I have to make a waitlist or accept random users when I release in a few days. Thank you. [link] [comments]  |
| Founder Skills: Should You Learn Copywriting? Posted: 05 Nov 2021 05:29 AM PDT Ok, so I don't think I'm the only one in this boat... or am I? You have an idea, you build a product (great!), but your orders are low, and then realise you know next-to-nothing about marketing, sales, your actual target audience, and oh ye, copywriting. So what lessons are most valuable when it comes to approaches in copywriting? What's recommended to a techie entrepreneur, in need of copywriting skills, and with no marketing experience? [link] [comments]  |
| Help, my cofounder is asking for more equity Posted: 05 Nov 2021 05:10 AM PDT Hi, I am seeking some feedback on this situation. I am a serial solo founder. I have worked on 3 startups over 5 years. I learned a lot from all of them and each had more success than the last. All of them generated profit but not massive amounts. My vocation is entrepreneurship. I will not stop until I succeed. I have made a lot of sacrifices to continue my entrepreneurship journey. I am now working on a very exciting project. I believe I have found what has held me back from large success. That is a large dose of market research. This project has everything I need to be a success. I nearly have all of the ingredients in my toolkit to make this project a success. I am lacking a specific dev skill. I could learn to be this developer, but it would take me some time to learn. My skill set includes
The project I am working on has been vetted, it is in a great market. People in this market have money to spend. There is healthy competition and the estimated income of them is good. There is not too much competition. I spent several months seeking a suitable project for my next startup. This is not a startup idea that I created. This is a startup that I chose to make based on the market. I spent months seeking something suitable. I onboarded another developer. Her job is to take on this specific development task. I will handle everything else. Including mobile, web, marketing, sales, decision-making, design, and more. We agreed on 20% equity over a two-year period. Earning 5% per 6 months. While she works on the project she gets 20% profit. No salary, this is a bootstrapped project. They are aware of the income projections. She works professionally full-time as a developer. We have launched and we are getting some small traction. No sales. I am happy with where we are at this moment. I am about to launch a marketing initiative that is promising. There is lots of work to do, but we are in a good spot with an MVP out. The cofounder is a hard worker. She is doing a good job. I think she was a good choice in that she is doing the work. She is very much a developer. I feel she contributes in meetings, but if I had better finances they could be replaced by another developer. She seems like she may be a bit temperamental. I feel as though she could kind of explode or something. Nothing has happened. We have a good relationship. We meet twice a week online. I think we work well together. I did not know her before this venture. I do slightly fear us having an argument and her getting stroppy. We are about to launch this new marketing campaign. She has requested more equity. This was brought up before and I explained that if she took more responsibility I would give her more equity. She said that she was not sure she could manage more roles. She has the experience to take on the mobile and web roles. She mentioned something like 50% equity, explaining to me she has worked very hard and beyond her original role of x developer. This may be true in a minor sense but no major contributions outside of her role have been made. She is an important part of the team. I like her contribution. I do not like how she brought this up. I was not directly given an ultimatum but I felt like it could have been one. Her work is about 50% of the total development work. I said before I could give her a total of 40% if she takes on the whole tech side, x dev, mobile, and web. She is reluctant to do that. I also am not sure I want to give more equity if there is a chance of an ultimatum situation. Our trust is building. I worry about the temperamental nature I sometimes see glimpses of. I think the major part of her specific role should be coming to an end. I want her to be happy. I want to be fair. If she leaves the project would be crippled. I would need to find someone to replace her or I would have to learn her role. If there is an ultimatum ex: if you don't give me more equity I am leaving and going to delete everything. Then it is time for me to leave her. I am not opposed to giving more equity. How would that work if they take on the mobile and web in the future? If I give them 30% total now, then that is a small incentive for 40% total to take on mobile. Also, I do not see the relationship as equal. I am the major contributor here. I manage them. They are not self-managing even for their role. I make all the decisions. I don't really like the idea of them being a bigger partner when I am bringing all the major moves to the table. I am also not sure I like the idea of giving them more equity for no increase in responsibilities. Over the last 6 months, she has become more a part of the team(me and her). Maybe her role was more work than she expected. I have tried to give all the information for you to give me a good analysis of the situation. I would be grateful if you gave me your thoughts. Thank you Reddit. [link] [comments]  |
| Posted: 05 Nov 2021 07:43 AM PDT So I thought I would share my recent experience with a startup. Formed a company with one other person and agreed to a 50/50 arrangement which includes going 50/50 on capital injections. This other person had a high powered day job. I raised the issue of a casting vote but he refused to put it on paper. Fast forward 8 months, software is written and we are getting into launch and operations. On my side I bring on two directors into my other business (this business is 50% equity holder in the startup, not me personally). Those directors tell me that the agreement is very lopsided because of the other founder's day job and the fact that day to day operations and work will fall on my shoulders but every 50c on the dollar goes to him, plus he wanted an equal salary. They pointed out that going forward this isn't going to be equitable and that based on their experience they foresee problems if he is not a part of the business from 9 to 5 in the beginning. I offered several options to my co-founder. Casting vote, 1% share issue, extra director, take over future capital injections and dilute proportionally down to 30% with protection. He never responded directly to the offers, preferring instead to focus on no longer being in control and on my attempts to "takeover" the business. Eventually he sent an email saying that he wanted to dissolve the business. I accepted. And at a board meeting a special resolution was passed, and the company was wound up. All this happened before we had even launched. The directors in my business told me I need to look at this as having dodged a bullet, and it was better this happened now than further down the line. They want us to move ahead with the solution ourselves. I have no idea what my former co-founder is going to do, we agreed that we both have rights to the software. All this to say that my experience with 50/50 arrangements has not been good and I recommend that you discuss casting votes early on and ways to break deadlock and put that in writing. One person must be "in charge". Do I feel like I dodged a bullet? I don't know. I understand the risks inherent in that 50/50 split, but I wonder if those risks would have been realised at any point down the line. I could have had a product in the market right now making money, instead of having to rebrand, retool and launch next year. Interested in hearing other people's thoughts on this. [link] [comments]  |
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