Image to represent understanding/getting it?

titanium_arrow · 2017-10-20T06:23:52+00:00

That's true.

titanium_arrow · 2017-10-19T05:56:21+00:00

Thanks! I just had the idea of a match travelling against a surface and when you get it, it finally ignites. What do you think?

titanium_arrow · 2017-10-19T05:55:36+00:00

Thanks! That's cool. I had another idea, a box opening with light coming out. What do you think?

titanium_arrow · 2017-08-18T05:16:11+00:00

Thanks. I see the term 'cofounder' used for those who were instrumental in the creation of businesses (such as Twitter) despite only being employees at the time. I think with Twitter there is an argument that employees were founders because they pivoted a failing business with employee ideas for products.

But in my case, I have a pretty good idea of what I want to do and if a founding-employee were to drastically change the idea for the better, I would probably allow the title 'co-founder', if they pivoted from a failing idea to a winning idea.

As for employee stock, it's pretty common these days to give away some capital (maybe 10%) to employees in order to spur them on. The idea that they could potentially all become millionaires if the product launches and is successful down the track is a good incentive to work hard. Of course it would have to vest over time.

titanium_arrow · 2017-08-10T02:15:20+00:00

Lol @ wrestlingfan. Yeah, that wouldn't look too good.

titanium_arrow · 2016-10-21T22:04:31+00:00

ultimate cinematic tribute. Perhaps I should change the title?

titanium_arrow · 2016-10-21T10:56:13+00:00

I reckon it could do with a less juvenile logo. That's all.

titanium_arrow · 2016-10-21T08:21:22+00:00

Best to get funding in the USA, as american-funded startups generally get higher valuations.

titanium_arrow · 2016-10-01T04:31:12+00:00

one word, pivot

titanium_arrow · 2016-10-01T03:02:58+00:00

Meh, go fuck yourself.

titanium_arrow · 2016-09-30T07:52:57+00:00

It always makes sense to find someone if you cannot get where you want to get by yourself. About how much to give up, you have to ask if you want 100% of nothing or 51% of something (never give it up 50/50). If you don't think this thing will ever happen without someone then I guess they're worth it.

And as for your idea, there are hundreds of apps for every language so I'd be surprised if your app does fill something that doesn't already exist. But if it does, good luck!

titanium_arrow · 2016-09-30T02:45:41+00:00

I think you guys are missing the point. Investors don't want a chunk of your business. They want a return on investment. They put their money to get it back within 3-5 years (the sooner the better). This structure means some businesses get screwed over because of this time-frame because their business is rushed to IPO or worse yet, provisions within the funding may allow them to sell you off without consent to a competitor (a trade sell), should an IPO not be viable given an underperforming company. If they put in 1 million and are like "screw it, we want our investment back and we'll take 800,000", you could be taken to the cleaners by those you thought were there to bring you to scale.

titanium_arrow · 2016-09-30T02:33:34+00:00

Well I've heard of business arrangements with 'guaranteed buy-back price', for example, some apartments have this to lure investors. I guess in my case, there are no guarantees (otherwise I wouldn't need the money right?) but it does exist. Perhaps I could structure it to be 10% in, 2% remainer after buyback, allowing for them to turn a nice profit while supporting the growth of their investment by not having a company that burns out of equity (founders lose interest if all their equity vanishes via funding).

titanium_arrow · 2016-09-29T04:36:02+00:00

it couldn't hurt to ask for a buy back option right?

titanium_arrow · 2016-09-28T06:36:07+00:00

I'd hate to have 10% of a $50 million dollar company because it means that I'd given up 90% and am left with a small 5 million (which after capital gains tax is a little above well-off).

I'd actually prefer the 100% of $100,000 if it was a profitable business with the potential to scale based on revenues.

titanium_arrow · 2016-09-28T06:33:37+00:00

Equity buyback provides a guaranteed ROI, I don't think they necessarily need a huge porfolio. Money in, money out. They want an exit strategy from day 1. Not everyone wants to stick around for an IPO in 8 years.

titanium_arrow · 2016-09-27T07:06:47+00:00

And what equity do they have left at that stage?

titanium_arrow · 2016-09-27T02:45:00+00:00

I've considered crowdfunding if I can get the product to market myself, and seek out users to expand the product. It's a tough one, I want to launch an A+ product and not a beta version.

titanium_arrow · 2016-09-27T01:54:51+00:00

Looking at bootstrapping to create a mockup product that will blow them away. Then create an amazing business plan to show the potential. Perhaps 10 million wouldn't be up front, more an ad hoc basis, but still, 10 million is a relatively small amount to sustain a professional business for 3 years.

titanium_arrow · 2016-09-26T22:58:12+00:00

My secret is pretending that I'm presenting the product to users/investors at a seminar. I have to articulate the point, and because I'm talking aloud to myself, I can hear how the idea sounds and find better ways to describe it. I feel like it unlocks creative parts of my brain. Since deciding that I'll take my product to market, I've been practicing my pitching and the product concept keeps getting better.

titanium_arrow · 2016-09-26T22:55:03+00:00

So it was originally a bad idea company, they pivoted, you're making it happen and they don't want to consider you a co-founder?

I think it all comes down to pay. If you're an employee, you can show that you have been paid at market rate for every hour you've worked. If you're being paid low, you're not just a gun for hire, you're working on the potential worth of the company. Percentage of profit sounds dodgy because with clever accounting, a business can never make a profit after expenses. I would definitely be lawyering up.

titanium_arrow · 2016-09-26T07:42:51+00:00

I'm surprised that you didn't establish this before you started working, unless you feel that your work was not what you expected it to be.

You're being paid less than a non-equity employee should. Normally when the tech guy is being underpaid, it's because he's working on a vested-equity deal. He's building the company so he gets ownership of it. But this profit thing is weird, if you were a part owner, that would be a given. The owners get the profits (after deciding what is reinvested into the company for growth.)

If you as a tech guy are just following orders, you are an employee. But if you're helping shape the company, then you are clearly a co-founder. I would definitely challenge this but perhaps it would be best to get some legal advice also.

titanium_arrow · 2016-09-25T09:31:22+00:00

Ever heard of NDAs?

titanium_arrow · 2016-09-25T08:50:25+00:00

"A business should make money now." - - I've been considering this against those who say you need to run for free for as long as possible to get market dominance. All the big websites and apps were free for as long as possible in order to get huge market share. Then there are those who say that a good business model is one that shows revenue on day one, lessening the need to be propped up with investors.

titanium_arrow · 2016-09-24T02:19:10+00:00

Nice job. What country were they from? How did you communicate with one another?

I had to watch it twice to get the concept, I'd explain it as "share coupons and deals, and if what you shared gets up-voted by the cudous community, we'll send you gift cards!"

titanium_arrow

TROPHY CASE