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    Monday, February 14, 2022

    Startups Is success really tied to having rich parents?

    Startups Is success really tied to having rich parents?


    Is success really tied to having rich parents?

    Posted: 14 Feb 2022 06:05 AM PST

    Today I was listening to a podcast with Vitalik Buterin founder of Ethereum. At first I was like: Wow, great guy, he made it from nothing.
    Then he said: "I dropped out of college and was traveling all around the world..." Wait a minute, I google his father and his father is a founder of 3 multi-million dollar companies.

    This is not the only example.
    Elon Musk - Had a rich father
    Mate Rimac (guy who made the fastest electric car in the world) - father was rich
    https://www.theguardian.com/business/2021/jan/31/small-business-entrepreneurs-success-parents

    It even goes beyond tech, like Ed Sheeran and Ariana Grande, come from rich parents.

    They all definitely worked hard for success, but when you have a rich background, no need to worry about job, rent, food or education, you can do so much more, focus your mind wherever, invest money, invest time...

    I used to be very motivated by the fact that anyone can succeed, but is seems to me like there is always something that happened behind the scenes that nobody talks about

    submitted by /u/politefemaleperson
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    How much did you spend on marketing in the first year after launching your MVP?

    Posted: 14 Feb 2022 07:25 AM PST

    I completely understand that each case is unique, and there are hundreds of factors that can affect your marketing spending, including the most obvious ones: the nature of your product and your available budget. And I've already done some research for recommendations for setting a marketing budget.

    I'm just interested to learn about real experiences. How much did you spend in the first year AFTER launching your product? Was it enough (Or is it never enough?) What would you have done differently? Particularly interested in SaaS B2C products.

    Many thanks!

    submitted by /u/theseaseeker
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    Need Help: For my startup program, I need to survey a few more tech/software entrepreneurs with just 15 short questions.

    Posted: 14 Feb 2022 07:23 AM PST

    Would really appreciate if you could answer the survey. It will help me and my team out greatly to hopefully take our startup to the next phase of the program: "Post-Validation".

    https://forms.gle/CzsnyCGr8sAmDSHB9

    These are just standard "customer discovery" questions you see all the time. Already done several live interviews; just trying to get some more diversity for my startup research.

    submitted by /u/verified_username
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    Best Underrated Customer Acquisition Strategies In 2022?

    Posted: 14 Feb 2022 07:19 AM PST

    1. What are some of the best underrated customer acquisition strategies in 2022?
    2. How can businesses use these strategies to increase their customer base?
    3. Are there any other tips or tricks that businesses should know about acquiring new customers in 2022?
    submitted by /u/bigboyparpa
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    Is it normal for startups to not offer insurance?

    Posted: 14 Feb 2022 06:58 AM PST

    I've been interviewing AE roles at startups recently.

    I'm looking to join a smaller company because I'd like to help grow sales and because tbh, need a change in culture (I'm coming from sales at a publicly traded SaaS company).

    A few things I'm noticing while interviewing is that base comp is conservative (which is fine, it's a startup), and that insurance (if it's provided) would only cover me and not my spouse or children.

    I can work with a company on comp, but the lack of insurance coverage for my family would be a non-negotiable.

    Is this normal?

    submitted by /u/visionbreaksbricks
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    Investor meetings: How do you convince them you are in a Billion dollar business?

    Posted: 14 Feb 2022 06:55 AM PST

    So, we recently met an investor. She was not really convinced this could be a billion dollar business but we are sure this is, but maybe we are not expalining it very well.

    The answer was: "Ok, come back when you have a good plan of expansion and convince me this is a billion dollar business, send me an email when you figure this out".

    Context: We are a social network operating in Argentina, good metrics, and we have a vision to be global of course. In our market size slide, we said we could reach 70M users in America (north and south america) in the next 5 years.

    But... One of the questions that she asked us was: "How are you going to expand to, let's say, the US? or Mexico?" It seems our answer was not really strong since we said we were going to attend events of the industry, contact influencers and start spreading the word from there... but... maybe it's was not enough for her.

    How do you overcome that? Like, is really difficult to plan a very specific expansion for the next 5 years, isn't it? I think she want us to at least have an idea on how are we going to do that, maybe it's not necessary to be SO specific regarding the checkpoints or data, but she didnt look so convinced.

    How do you make your plan of expansion stronger? The truth is we dont want to search to lot of data and confuse ourselves and maybe this is not what she wants, maybe shes only asking we need to have a clear way on how are we going to expand.

    I know these are two different questions 1) how to show you could be a billion dollar and 2) Plan of expansion

    Thanks!

    submitted by /u/ElonMust__
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