Basically, if just launched a mobile app technology startup and already have some partnerships in place, but no real funding to support advertising, marketing, publicity and all of that, then how would you recommend to start generating some serious publicity and media coverage on a minimal budget? By funding, I mean there’s no significant funding via an accelerator, angel investor, fund, or VC group. It is primarily bootstrapped and funded by the founders of the startup itself.
Please let me know – thanks!
We often talk about starting and growing business but it seems as if the exit planning strategy is never provided for founders looking at exiting or selling their companies within X years. Considering you are all business/startup founders.
- Do you have any insight on how to effectively plan for an exit and avoid the stress that comes with rushed sales and disappointing valuations?
- Is there a Saas tool out there to plan ahead accordingly and tie up all different business facets for monitoring or getting readiness feedback/valuations?
I personally have been finding it extremely cumbersome and while clean financial records are doable, the remainder of the process is exhausting beyond measures.
I personally believe equity of 33-50% might have been appropriate if I was coming to him at the idea stage. To be clear I am the sole founder and this is my own idea.
The App currently has over 2.5k DAU, 11k MAU, very good reviews on the app store, and I've already invested around 30k in total (which includes the payments I have been making to him for development – albeit at a slightly discounted rate). The app is not yet making any revenue, but it seems like we have pretty sticky product with retention rates of 38% (day 1), 20% (day 7) and 10% (day 30).
I do however very much value him, he is a talented developer who has created this quite complex app on his own (with me providing all the designs and ideas) and also has a good business mind.
I don't want to scare him off, but I feel like he is being unreasonable with this request at this stage. It also feels like I am being held at ransom because it would be hard to find another developer who understands the product at this crucial stage where we're about to implement the payment/premium features. The alternative he says is his normal daily development rate, which I would not be able to afford yet until I get investment and I think he knows that.
Sorry for the noob question too, but if I give him equity, does that mean he also gets that % of the profits?
I would like to take him on as a CTO and perhaps have a 4 year vested schedule with a cliff, giving him max 15-20% overall. Is this fair or too much?
Any advice would be very much appreciated.
I'm in the process of hiring some freelancers so I can keep up with the workload. I know that at the very least, I'd need to hire more devs to handle the workload. What else should I be aware of, what else should I be prepared for? I have a lawyer to help with the legalities. Though I've never done anything like this before. Can anyone help? Thanks in advance.
I'm starting a shop and the name I chose is taken by creative sellers on Etsy and other sites but nothing is registered. I've done the business name lookup and there's nothing coming back as taken along with domain names which are all available for purchase.
What would happen if I registered this name and incorporated?
Is it as simple as the other businesses showing proof they were here first even though they're not registered?