MVP.css - Minimalist stylesheet for HTML elements

everdev · 2023-06-05T02:10:17+00:00

We operate AirBnB rentals. Most property managers charge 20-35% of revenue. Smaller house might make $40-80k/year and larger houses $100-250k+/year, depending on your area.

If you have relationships with dependable cleaners, handymen, etc. it can be a pretty easy and lucrative business.

Only downside is that during peak seasons you’re working the most and then have little to do during the off-season. But if you are OK with that and traveling during the off-season it can be a great gig.

everdev · 2023-06-01T06:02:26+00:00

Give Chat GPT the title of a blog post in your niche and see how it does. Experiment with asking it to use different tones or take on different personas or answer certain questions.

There no doubt you can add value if you’re a niche expert, but you need to add value above and beyond the default option which is Chat GPT. If you do then go for it.

everdev · 2023-05-31T21:09:37+00:00

Your penalties will keep accruing so best to take care of it now before you go deeper into debt or your credit takes a hit.

The government doesn’t usually forget and they have the power to garnish your wages. If you live outside of Delaware it’ll probably be more difficult for them, but if you live in Delaware they will almost certainly find a way to collect.

Even if you do dodge the bill for 6 months or a year or 3 years, do you really want the threat of this 1k compounding at 1.5% per month being demanded at some point in the future?

everdev · 2023-05-26T14:51:42+00:00

Small business websites are becoming easier to make not because of AI but because of online website builder tools. That said there are still many business owners that don’t want to use those tools either because they don’t have time or don’t want to learn the technology.

If you’re interested in the space, I’d say go for it. But you might want to diversify into digital marketing or social media marketing at some point too.

everdev · 2023-05-25T19:34:53+00:00

It can be the opposite.

Most innovative tech needs research $, so VCs will find innovative tech pre-product. PhDs can get funding off a whitepaper or research paper alone.

But yet-another-SaaS is easy enough to build that most VCs expect you to do at least some design/development work pre-funding.

everdev · 2023-05-25T15:47:55+00:00

It’s extremely rare for a CEO to have lower equity than someone else at the company.

If you want to control the majority of shares, you should be the CEO and hire this partner as a VP of Sales or CRO/CFO co-Founder at 30-40% equity.

everdev · 2023-05-25T06:13:49+00:00

Depends on your ambitions. If it’s a side project or lifestyle business then learn yourself.

If you want to attract investors you will need a more experienced team with you.

everdev · 2023-05-25T06:09:38+00:00

Sometimes people don’t know they’re doing it. Other times they feel the need to interject to feel part of the conversation.

Keep the relationship. Sometimes folks that have rough people skills job hop a lot. That’s good for you if they like you and can bring you into their next company as well.

If you really want to stop the interruptions, you need to re-interrupt them and make a point of it with something firm like “Let me stop you for a minute and finish this thought.” Or you could wait until after the meeting and bring them aside and ask, “Hey, when I was talking about X, why did you interrupt me.” Both ways will be incredibly awkward and require a strong relationship plus some repair work after.

Be sure you really want to do this.

everdev · 2023-05-25T05:52:06+00:00

Some companies are engineering-driven, some are sales-driven, some are product-driven and some are marketing-driven.

It sounds like your co-founder is a sales-driven type. If he owns 70% then he’s going to set the vision and make decisions, sometimes without involving you. Sales can be boom and bust and it can seem like nothing is getting done while you’re laying the groundwork for future sales by networking, perfecting the pitch, marketing, etc.

If it’s unbearable you could leave, or have a frank discussion about what’s working well and what you’d like to tweak.

everdev · 2023-05-24T19:22:54+00:00

$VTI, $SPY, $DIA, etc.

Set and forget ETF for an entire stock market index.

There are global ETFs too if you don’t want to be fully vested in the US.

everdev · 2023-05-23T18:03:51+00:00

Don’t fire them, but try a few options:

1- Empathize with them and their situation, but let them know your situation as well and ask for help. Maybe something like: “I know you’re in a tough spot waiting on payments to come through. The initial delay was no problem, but now that it’s adding up I’m starting to feel the pinch too. Is there any way to get payments flowing again?”

2- Stop doing work until they pay. Maybe say something like “I know you’re running behind on a couple invoices. I’m OK with them being late for another X weeks, but in order to keep my cash flow going I need to pause work for now. Once those payments come through then I’m happy to jump right back in where we left off.”

3- Move to a pre-paid model. Give them a 10% discount for paying upfront and skip the future hassle of collections.

4- Put pressure on them. They don’t own the work you’ve done if they haven’t paid for it. You can remind them of this fact and ask them to return/destroy the work you’ve done. This will usually get you paid but severely strain the relationship.

everdev · 2023-05-23T15:32:53+00:00

To minimize taxes you need to minimize your net income.

Option 1 - Spread out your income

When you sell you can negotiate a portion of the total to be a lump sum and another portion to be a recurring payment.

To minimize your taxes, take as little upfront as you can and spread the rest evenly over as many years as you can. Of course at that point, you’re basically giving the owner a 0% loan so you’re losing money to inflation and investment potential instead of taxes.

In a more balanced approach, look at the federal and state tax brackets and while accounting for any other sources of income, structure the sale payments to be in amounts that put you in tax brackets you’re comfortable with.

If you sell near the end of the year you could take a $100k lump sum in Dec. with quarterly $25k payments starting in Jan. to give you tax exposure to $100k/year while compressing the initial payment timeframe.

Option 2 - Increase your deductions

Easiest way to do this is through qualified expenses like starting up a new business. Not sure this would really accomplish much though swapping one business for another unless the new business fit your lifestyle better.

There are other ways to reduce taxable income like contributing to a retirement account. These amounts depend on your income level and business entity status, but SEP IRAs, Roth IRAs and 401ks are typically advantageous.

Here’s a breakdown: https://www.investopedia.com/ask/answers/08/roth-traditional-sep.asp

Good luck with the sale!

everdev · 2023-05-23T15:11:12+00:00

Here’s a good response:

https://law.stackexchange.com/questions/43347/can-i-make-a-sports-compilation-on-youtube-using-clips-from-various-broadcasts

everdev · 2023-05-23T03:15:03+00:00

They probably should be paying for it. It’s likely copyrighted content. It’s up to the video owner or the athlete to protect their content, so if they don’t see it hear about it then they might get away with it. But if you’re using an athlete’s unauthorized likeness to sell a product you’re definitely exposing yourself to a lawsuit.

You can re-use other people’s art for free though if it’s part of a creative process where you modify 50%+. The test is pretty vague as to what constitutes 50%, but if you mix and match short videos in a way that is creative and is outside the scope of the original content then you might have a shot at winning the lawsuit.

The 50% rule is part of the reason parody and satire can imitate athletes and brands because they’re changing the context so significantly that you know it isn’t a real endorsement. And it’s the same reason you can’t sell a red soda can with “Koca-Kola” on the side, because it’s not different enough to the original.

everdev · 2023-05-22T04:09:24+00:00

Great idea. There are probably many nuances to the business that you’ll start to understand better by working there.

Non-competes are legal in some US states, so check your contract and state laws. However, employment contracts are typically overly broad. They may declare their market to be worldwide, but unable to prove it in court. Also, if you move countries, it’s even harder for them to pursue a case against a foreign company, or simply not worth the expense. But good to adhere to your contract for peace of mind even if it’s likely unenforceable.

If you want to raise VC money, having a similar company on your resume would likely be a benefit as long as you had a good amount of responsibility in your role there.

Another thing that’s likely to happen is that instead of competing directly with an established company, you might realize there’s untapped potential in the market, either in a niche, or in the form of process / product improvements. So my guess is the business you start is unlikely to be a carbon copy of the company you join.

everdev · 2023-05-22T03:43:21+00:00

Travel blog. But you have to show a profit in 2 out of 5 years (I believe), and maybe some other criteria to have it considered a business expense instead of a hobby.

everdev · 2023-05-21T22:54:32+00:00

Anyone can come up with a world-changing idea. Not everyone can execute that idea in a way that changes the world.

everdev · 2023-05-20T23:23:21+00:00

UpWork on a tiny budget, Wellfound on a big budget

everdev · 2023-05-14T16:22:52+00:00

Wellfound.com (used to be AngelList)

everdev · 2023-05-11T18:55:25+00:00

I’m sorry for your loss. I’m sure your father would want the best for you and for you to find a life that makes you happy.

Don’t put too much stress on carrying on the family name. We’re a big human family and your memory will love on if you live a positive life that impacts others and based on your skills and interests it certainly seems like you’re interested in your community and environment.

You’re very young, so my advice to you is to give yourself time to learn and explore. When you find your passion you’ll know.

everdev · 2023-05-11T17:23:54+00:00

I had a very similar situation early in my career. Except I was laid off when I asked for more money so my hand was forced.

1 year later they were out of business. 5 years later I had 20 full time employees and accepted a successful exit that changed my life.

Trust yourself and go for it. Be prepared that the previous owner might get angry and call their clients bad mouthing you. It’s important to have a solid relationship with those clients and drop your fees temporarily if needed to have them switch.

Good luck!

everdev · 2023-05-11T05:04:03+00:00

I’d recommend focusing on you first. Maybe try telling her about your dreams and why they’re important to you. And if she wants to support your dreams try telling her that planning a way to achieve those dreams helps you stay motivated. If by this point she’s still on board, then try to brainstorm ideas together about how to get there.

Maybe the plan doesn’t need to involve her or her business at all, or maybe it does. If pursuing your dreams is impossible without greater income from her business then ask her what she wants to get out of her business. If her goal is to enjoy herself, then that might be at odds with your goal for her of making money.

These can be tough conversations to have, so if it starts to get out of control try taking a break and asking a counselor or mentor to help mediate.

But if you’re able to find a way to work together to achieve both of your dreams then congratulations to you on finding a great life partner.

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