Confused About Business Insurance? This Startup Can Provide the Info You Need In Minutes. – Entrepreneur

Confused About Business Insurance? This Startup Can Provide the Info You Need In Minutes.  Entrepreneur
“startups when:1d” – Google News

Fundraising Thursdays – A Forum to Ask About Fundraising, Investors, Accelerators, and Other Sources of Capital

Welcome to this week’s Fundraising Thursdays Thread.

Ask about anything related to fundraising, investors, accelerators, grants, and other sources of capital.

That includes how to find these sources, how to work with them, and how to negotiate with them.

Don’t be shy. The purpose of this is to learn and share ideas and methodologies with one another.

Any question is a good question!

If you are answering questions, remember to be kind and supportive. Many are just starting out and have no idea what they are doing. That’s okay! We all knew nothing before we knew something.

You can also find more support using instant chat on the /r/startups discord.

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Supercell’s CEO talks about its majority owner Tencent, finding its next hit, and more

Mobile games maker Supercell has been one of the great, understated, breakthroughs of the European startup world. The Helsinki-based mobile games maker built an empire out of Clash of Clans, raking in tons of money and catching the eye of world class investors and eventually a new strategic majority shareholder in the form of Tencent at a $ 10.2 billion valuation.

That was in 2016. So how does a hot startup keep its edge?

As part of this year’s virtual Disrupt,we sat down to talk with the company’s founder and CEO, Ilkka Paananen, about that and the other challenges and opportunities facing the company, and asked for his tips and opinion on spinning up and running startups in Europe today.

Times are definitely not easy right now: all of us are living through a global health pandemic, and economies as a result of that are teetering; and there is an interesting sea change happening as gaming companies (along with other content makers) face off against big tech, where question of whether platforms or the games themselves have the upper hand. (The most visible and recent example of that: the counter-lawsuits between Epic and Apple over in-app payments.)

For Supercell specifically, its majority owner, Tencent, is in hot water in the US (a major market for Supercell); and it’s sitting on a still-popular but now-ageing game franchise that you could argue is in the middle of its own Battle Royale against the many other big games that are vying for people’s attention (and spending power to keep playing and levelling up). In short, the company itself, now 10 years old, may itself be facing more existential questions of, who are we now, and what comes next?

As you’ll see in the video below, Paananen is very sanguine and calm, which is to say quite Finnish, about a lot of this.

Even without the experience thus far of Supercell under his belt, he has been in the industry for years. Supercell is his second big hit company: before that he founded Sumea, which was acquired by Digital Chocolate, where he became president in the now-defunct bigger studio’s heyday. And, he has been and is an investor, too: most recently Paananen backed Zwift, the gamefied home fitness startup, in its most recent, $ 450 million round, which included him joining the company’s board. All of this is to say that he can see the bigger picture.

The Tencent issues in the US, he said, are something that the company is watching. But not only are they unresolved — indeed just this week, ahead of any proposed bans on Tencent properties and WeChat in particular, the US government issued more clarification on how people are liable for using WeChat. In any case, Paananen said in the interview that he believes that Supercell doesn’t fall under the US executive order to be shut down, since Tencent is only a shareholder, not a full owner. He’s still waiting to see how it all plays out.

“Our current understanding [is that] it’s about WeChat not Tencent as a whole,” he said, “and that it doesn’t apply to Tencent-invested companies like Supercell.” (Also: one of the good things to have come out of not getting fully acquired, it seems.)

Similarly, Paananen is not overly concerned about the fact that its big hit, while still one of the highest grossing apps globally, is getting on and slowly bringing in less revenues.

Judging by the fact that Supercell has yet to follow up with another successful franchise, and has killed quite a few attempts in the meantime, the process to produce a hit, in fact, still seems to be as elusive to a company that has produced a hit already as it is to those that have not.

“It would be nice to be always on this kind of a growth curve, but the reality is… it’s very much about hits or misses,” he said.

“Sometimes figures go up, and sometimes they go down [so] what’s your time horizon? We never ever think about the next quarter, and very, very rarely think about it and maybe next year, I think that’s a target in itself, you know. We try to think in decades. Our dream is to build a game so as many people as possible will play for a very long time. We are inspired by companies like, say, Nintendo. And if you’re going to take that… then that changes your perspective.”

The company has been building out its options, though, making about three investments a year in other gaming startups, and some full acquisitions of studios, to diversify the team and bring in more options for new games in the future. Later in the Q&A with viewers, Paananen said Supercell has no plans yet for anything in AR or VR, with a firm belief that mobile, and the mechanics of a touch screen, are the best for what it’s building.

It seems that most valuable lesson Paananen has learned, it turns out, is the thing that continues to be his top priority: building the right team for the long haul.

Making sure you have a group that can work together, inspire each other and be productive has been the constant, one that perhaps means even more as the company grows bigger and we continue to work under very decentralised circumstances.

“We are currently on the look-out for people from all around the world to join Supercell to build the be the best teams and then of course the best games,” he said.

Hear about all this, plus Paananen’s opinion on raising money and more, below.

Startups – TechCrunch

About 40% of Korean Startups Doing Business Abroad Begin with World Market in Mind – BusinessKorea

About 40% of Korean Startups Doing Business Abroad Begin with World Market in Mind  BusinessKorea
“startups when:1d” – Google News

Sudhanshu Sarronwala talks about how he started, how he grew and eventually set up his own startup.

https://www.youtube.com/watch?v=3OoVi7V1rwA

Sudhanshu started off in the sales department and worked himself up to the marketing section. He eventually started for himself. He traveled to different countries, shares his story and the do's and don'ts.

I copied the timestamps, so you can click on what you're looking for right away.

00:00 Intro and Childhood background

11:10 Joining an advertising agency

22:14 Marketing and the two-wheeler industry

35:30 Going into the TV industry – MTV Asia – as Head of Marketing

58:40 Work-life balance

01:11:18 Managing Director at MTV Asia & Recruiting a team and learning lessons

01:22:50 Going into entrepreneurship – music industry – & Getting investment

01:45:02 The ups and downs in the music industry

01:55:40 Tips for digital start-ups

01:57:10 Acquisition by Motorola

02:02:40 Starting at an NGO – WWF Global & Open source branding, & Limitations of an NGO

02:34:38 Closing and last tips

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Question about calculating Joint Venture equity

Hello all. I've created a SaaS product, and am discussing with a potential partner over entering into a joint venture. The partner is a corporation, who will provide access to resources and funding. I'm trying to wrap my head around how much value each of us is bringing, in order to determine an approximate equity share

I've broken the project into components (Ex. Software, Marketing, Legal/Accounting, etc.) . Each of these components, I've broken down into

  1. Initial Value (what is brought to the table at the outset of the venture), and
  2. Ongoing value (work that is promised, value estimated annually)

Initial value, conceptually, is simple. I am lost with ongoing value – if a service that I estimate at $ 50k/year is being included as part of the JV agreement, how would that compare to, say, a $ 100k one-time initial value brought to the JV?

Also – am I on the right track here? Thanks!

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Startups – Rapid Growth and Innovation is in Our Very Nature!

If you care about remote employees, start tracking their performance

Remote work has been thrust upon us, but are business leaders ready for it?

More than half of U.S. companies now plan on making working from home a permanent option. However, most of us still don’t know what an optimal business machine with remote operations looks like simply because reaching that point requires years of trying, testing and adapting.

One major thing we haven’t all realized yet is that, without the visibility of face-to-face contact, data is essential in tracking employee progress and well-being, as well as the company’s overall health.

And not just any data — granular (ideally automatic) data is needed to give us accurate insights and stop us from making burdensome mistakes, especially in tech companies where even more of the work effort is purely digital. Take productivity. If we were to focus on people’s work hours alone, we’d likely get the wrong picture. Half of software developers have been working more during quarantine. But what does this tell us about the toll this workload is taking on their mental health? Or the quality of their work, and how much extra time is going toward bringing their tasks up to scratch? Nothing at all.

Putting data at the core of project management is not about Big Brother; far from it. Data isn’t inherently good or bad; it just gives you the tools to implement intelligent strategies and reduce errors. If anything, it will minimize the number of times you have to interfere with employees to ask for updates and micromanage.

Embracing data to create your new remote-ready project management strategy will enhance you and your team’s work lives in the following ways.

Reduce wrong decisions

Managers don’t have accurate visibility into remote employees’ productivity. Radio “silence” from team members can be misinterpreted to mean they’re not working enough, especially independent workers like software engineers. You might think you wouldn’t notice if they spent half their work hours on a coffee break, and your mind can run away with you. (The opposite — for those who talk too much — is also true).

However, a digital lifestyle produces digital indicators. Data-driven project management tools such as Wrike can tell you about employee output, but also about iterations and quality indicators on the same task. Such as how many times a pull request went back to a developer, why (due to error or for minor improvements?), or how many other employees stepped in to help before the final product was achieved.

Startups – TechCrunch

Tuesday Operational Roundtable – A Forum to Ask About Legal, Accounting, Project Management, or How to Get Started

Welcome to this week’s Operational Roundtable Thread.

Ask about anything related to legal, accounting, project management, or how to get started.

Don’t be shy. The purpose of this is to learn and share ideas and methodologies with one another.

Any question is a good question!

If you are answering questions, remember to be kind and supportive. Many are just starting out and have no idea what they are doing. That’s okay! We all knew nothing before we knew something.

You can also find more support using instant chat on the /r/startups discord.

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Startups – Rapid Growth and Innovation is in Our Very Nature!