Mentor, Entrepreneur, Lawyer, Public Speaker
Hi, 4a: There are various 'models' that you can use to estimate how many shares/percentages your new partner should get. These include (a) his/her investment in time and/or money, (b) the current + potential value of the company, (c) the time and/or money that you as the original founder already put in and various other models. That said, at the end of the day, it's all about value and psychology (both side's feelings). Bottom line: 1. It all really depends on how much value they are giving you (not only financial, sometimes even just moral support goes a long way). Some founder's 'should' get 5%, some should get 50% or more. 2. Ask the potential partner how much shares they want (BEFORE you name a number). 3. Have an open conversation with them in regards to each of your expectations. 4. Use a vesting (or preferably reverse vesting) mechanism - meaning that the founder receives his shares gradually, based on the time that goes by (during which he fulfills his obligations) and/or milestones reached. 5. If you want a mathematical method: calculate the value of each 1% of the shares (based on the last investment round), check how much an average CPO earns per month/year, and then you can calculate what % he/she should get for the 2-3 years they should put in. 4b. Happy to explain on a call as I would have to write another 10 lines to answer this. Very briefly though, the risk would be you not getting your shares, but if you draft a founder's agreement, you can avoid this. 4c. Tell him how much you respect him, the business and the time you worked there. Tell him that you are leaving for personal reasons. Do not tell him about the startup. Check that you don't have a non-compete class in your employment agreement. Good luck I've successfully helped over 380 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at my reviews: https://clarity.fm/assafben-david
Fractional CTO
Easy way. Connect with publishers of health magazines, write articles for the magazine (paid or free) using soft sell techniques to promote your products. Or you could setup a Food Porn site (glitzy photos of finished recipes), where recipes skew toward using your products. Likely several 100s of ways to do this + far more detail is required about your company to venture good guesses.
I am all things branding and entrepreneurship.
Hi! I hope you and your family are doing well. I'm not sure how much you may have to invest in a time or capital sense, but with this as long as you have the time you can pretty much get around not having to use any of your money or credit to pursue this opportunity. So it's called Wholesaling, I'm not sure if you're already familiar with this but it's basically reassigning properties for a seller to a new buyer that wants the property. It's that simple (once you find a seller and buyer of course) but that's where your time would need to be invested. There are databases online that give access to the type of properties you'd be looking for to help make the job easier and you could also drive around and see houses for sale and inquire about those if they're for sale by owner. There are many key things to look for when dealing with real estate but it's worth it if you can invest the time. You could earn anywhere between $5-10,000 when closing deals and you'd do that 2-3 times a month once you get the hang of things. I hope this helped!
šHarvard Certified Global Corporate Trainerš
There are several models you can opt for. Freemium: With this model app publishers offer mobile users to download apps free of charge to use with a limited set of features and charge them via in-app purchases for premium features, additional content, or digital goods. In-App Purchases: One of the app monetization strategies that is particularly relevant to mobile games only is in-app currency. A typical example would be offering a mobile game users to buy via in-app purchase a set of coins for them to use in the game, e.g. Quoting Apple's description of the Subscription model: Auto-renewable subscriptions give users access to content, services, or premium features in your app on an ongoing basis. With this model, app developers can offer multiple plans with options to upgrade, downgrade and crossgrade . The major feature of this model that appeals to users is that with Subscription model developers can offer a discount for a long subscription period. Affiliate Marketing and Lead Generation: Such time proven monetization strategy as affiliate marketing can be yet another way for app developers to monetize their mobile inventory. In a nutshell, affiliate marketing for mobile apps is about being rewarded with a commission fee for every instance when a mobile app was downloaded or specific action was taken with an app via the link placed inside your app. To make it work for you app monetization strategy, you need to choose what specific apps to promote inside your application, apps that can compliment your app for your users experience. You can read more here: https://www.businessofapps.com/marketplace/app-monetization/research/app-monetization-models/ Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
Mentor, Entrepreneur, Lawyer, Public Speaker
Good question, I mean answer :-) Maybe because there are two tabs - one with questions that have already been answered.
Interview Expert , Career Coach , Personal Finance
There are couple of ways i suggest it based on 15+ years I have in building offshore teams in Asia 1) India is becoming for start-up Hub now. If you want to start small, you can start searching for these companies by technology expertise you can looking for like Data Science, ML etc. You will start seeing search results with new and upcoming agencies. These are companies who are hungry for success and will literally do major development work for small prize.. 2) Then there is big fish in tank but still low price . You can partner with companies like TCS , Info and Wipro and try doing a T&M 1 year contract and see if they can offer you right expertise before investing big Like i said above , India is a IT hub , if you contact any of these companies , they will contact you immediately with proposal but there is no shortage of talent there. Happy to discuss this on call if you need . I have been in offshore business for multiple years , i can share my experiences with you
Fractional CTO
There's no point in this. Said differently, this nullifies the use of promo codes. With Amazon, there are near zero analytics. You're only hope of crude tracking is to keep your promo codes private, only provided in specific email or direct mail copy, to have some sloppy guess about who's buying your product. Best to also expire these quickly, because if you leave running for years, someone will pass this along to their list, which passes it along to other lists. Long term promo codes dilute data to an unusable point. Tip: Also, include some device on your product to drive people back to your site. Since you provide no information, no clue as to how to structure this device. Example: Say you're selling bagged Maca on Amazon. One each package you'll include something like... Email recipes@super-duper-great-maca.com for a free recipe book on 101 Maca recipes + energy boosting hacks... in 101 easy to implement email messages. Some device to collect purchaser information.
Clarity Expert
If you've done a great job setting up your business, I believe your net profit will be something like $.60 to $1.xx per package you process and ship.
Clarity Expert On Growth Stage Startups
The first thing to consider is are you building this as an MVP or are you digitizing a business where you are already offering this service successfully offline. Ultimately you get what you pay for and if you go down the cost-effective route initially MVP style you will need to rebuild at a later date. If you're replicating an existing business that you are digitizing it would probably be worthwhile to use cost effective developers and more of a prototype approach. Based on the description of what you are doing I am going to assume you are looking to develop an MVP: 1. Using WordPress - using existing theme (free) or use a designer on Upwork/PPH to create a design and wireframes (~ +/- $1k). Use existing membership/payment plugins (cost as per use), use developer to customise and bring everything together $2-5k. With this solution there it is likely there will still be manual operations to do in background as it is difficult to customise word press 100% 2) Using no-code solution like Bubble. This is a fast and easy way to create web and mobile applications. There is a learning curve which can be quite steep depending on what you want to do. The cost for this is $0 except for your time, depends if you are time poor or could be working on something delivering more value. You may need to use a professional for more complex customisations and integrations cost for this tbd depending on what you want to do. 3. Build from scratch - create a business and requirement document/user stories. Post on Upwork, PPH or similar. Talk through with a few bidders, this will help you get your idea to a more advanced stage and may also uncover things you haven't thought of. Estimated cost for an MVP $5k-$40k Time to launch for all the above would be 2-4 months estimated for a basic stripped back MVP. I have gone through this process many times when building MVPs and businesses, there is, unfortunately, no fixed way, it will depend on your situation. Good luck! Laurent
Clarity Expert On Growth Stage Startups
This sounds like an exciting venture and a worthy cause, EdTech is a hot space right now, and rightly so. Something to consider first of all is whether you want to build an MVP or a basic prototype. If you are digitizing something which already exists, and therefore the need and model is proven in the real world, then it might be worth building basic foundations with a prototype. This means that you can then build on it as you learn more about how your customers want to use your marketplace. If cost is a major consideration then you might want to "fake it until you make it" i.e. create a slick online proposition but leaving out much of the plumbing in the background initially, and doing the background operational functions more manually. The additional benefit is understanding how the marketplace will operate before translating that into product requirements, I used this method for over a year initially when creating a marketplace and it served us well. The more "perks" and functionality you want to add the more cost will be involved, just focusing on the basics and doing those right is best as often when it's not clear how users will use the marketplace you can end up creating functionality that isn't used. This comes at a cost both financially as well as time-wise when you could be developing other stuff. It is important not just to think about the technical/product solution which is exciting and fun to do but the overall business. In terms of funding one of the approaches might be: 1. Self-funded/friends and family - until something tangible to show e.g. MVP 2. Angel funding 3. Angel/growth funding as you scale Unless you can bring onboard a technical cofounder who will build for equity or you can access government grants or similar support funding. Marketplaces are capital intensive, require a lot of marketing and a lot of throughput, something worth considering from the outset. Good luck!
6+ years of experience in copywriting.
If there is no co-pay or coinsurance assigned to a line of service, it is unlikely that the patient would be billed a co-pay or coinsurance for an out-of-network provider. However, it is important to check the patient's insurance policy and any agreements between the insurance company and the out-of-network provider to confirm whether or not the patient will be responsible for additional charges. If the out-of-network provider is not going to be submitting claims, it is likely that the responsibility for acquiring prior authorizations would fall on the patient or their representative. However, it is important to check the patient's insurance policy and any agreements between the insurance company and the out-of-network provider to confirm who is responsible for acquiring authorizations. Additionally, it is also important to check if the insurance company of the patient have any network providers which can be used instead of the out-of-network provider.
Procrastination is extremely expensive. LETS WORK
I'm available for consultation
Clarity Expert On Growth Stage Startups
Finding a cofounder is tough, especially at early stage. I think the way your are approaching it make sense and I followed a similar path. Once you have developed an MVP you will have more to show both to potential cofounders, employees and investors. This will also allow you to raise some seed funding to alleviate the financial burden f just you financing your company. Until then it is hard for people to commit if there isn't anything tangible enough because of risk perceived. Follow your vision and create a story and basic MVP to share, seek feedback to validate and then convince people to join your adventure, if it's an exciting one they will join. Good luck!
Entrepreneur. Soft Skills Trainer.
What you're asking is very complex and to me 2% to 4% seems like a terrible ROI. There is a lot of information that needs to be provided to determine how to structure the deal and if it's even a good deal. Are you getting equity (a part of the ownership of the company) for your investment? If yes, how much (%)? Is the company valuation realistic? Is the company established and having sales or is it just starting out? Simple example: If you're investing 250k $ and the company has a realistic pre-money (before your money is invested in it) valuation of 1 Million $, you should be getting 25% in terms of equity. Of course things aren't that simple in reality but it's a good rule of thumb. - If I was to go ahead, how should the business be structured? This is hard to answer without more information. In general you should seek to have both equity and decision making power if you're investing into a business, if you want to be an equal partner you need both equal equity and power. Especially if it's in an early stage or if you're investing a significant amount of money. Which to me seems to be the case. How you'll specifically structure the business depends on the area in which the business operates in ex. software, manufacturing, sales, consulting etc. - What are the steps I can take to protect my investment? A lot of research and consulting into how these kinds of investments are usually done. You should obviously have a specific contract drafted by a lawyer as well which denotes the terms of investment. - How should any potential net income be shared if the proposer does not invest a single penny? Depends on what else is the proposer bringing to the table. Maybe other resources, machines for manufacturing, their network, blood sweat and tears, or whatever has a determinable value. Of course you need to figure out if what they're bringing to the table is of equal or more value to the money you're bringing in. - What are the pitfalls of such an arrangement? Also depends on the details. Some are: -> Giving the partner all the decision making power, "Trust is a terrible criteria for investment" -> There's always the risk of the company failing of course. -> If you don't draft specific contracts on what you're getting for your investment chances are you'll be getting very little I would suggest reading up/researching on investing into businesses (or start-ups), there are established procedures and contracts that are often used when investing.
šHarvard Certified Global Corporate Trainerš
I believe that you can better learn from a real world example, this link will help you in that and you will surely gain valuable insights: https://www.investopedia.com/articles/investing/103015/how-does-paribus-work-and-make-money.asp Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
knowledge and understanding the power within you
give me a call an I will discuss in details
Clarity Expert On Growth Stage Startups
To determine market size, you will need to look at potential customer data or revenue/transactions each year. You will need to: 1. Define your target customer and audience 2. Estimate audience size and target customers 3. Determine growth rate if possible taking into account organic and churn 4. Calculate the market size for both revenue and products/services sold In terms of resources: 1. You can use bottom up data e.g. if opening a men's barbers then x number of men have x number of haircuts per year x average cost (in your target geography) 2. Top down data - get data from industry associations and apply your assumptions This process isn't complicated but it is time consuming when done comprehensively. You can also find freelancers on various sites who will do all this background research for you and who sometimes offer a secret shopper service calling competitors to get data such as for pricing. Good luck!
Head of CX; Revenue and ROI Driver
One way to do this is by selling products to your customers and upon sale, the customer will pay for the merchandise. Once the payment is processed, you can use this money to purchase your good and then you can ship it directly to the customer. That way, you will utilize the customers' money instead of your own investment to purchase the product. Let's set up a call in talk in detail about this!
| Experienced professional| Problem-solver|
My 12-month vision and execution plan is to build on my existing Clarity profile by leveraging both organic and paid content strategies to attract more people to my platform. I will also focus on continuing to provide quality service and advice to those who reach out. Finally, I will be actively engaging with potential clients through networking opportunities, building relationships and offering help whenever possible.
Clarity Expert
- You must first understand that you are a brand(work on your personal branding so you can be desirable) - Boost your social media profile and update your LinkedIn. Make sure the posts you share on social media are captivating and good enough for people to repost. You can also do a paid advert for your post that has a lot of engagements. (Maximise your social media) - Narrow down on the type of clients you want to attract(youths? Adults? Middle aged people?), think of how to get in touch with them, attend events where you can network and sell yourself. - Send direct emails to the contacts you have. Cherish those business cards, donāt be ashamed to get contacts, give cold calls too.
šHarvard Certified Global Corporate Trainerš
I will suggest you B2C company. These companies are best suitable for online business. Apart from the multiple advantages it provides two major benefits that you will get from establishing this type of company. First is digitalization of business and second is usage of a global network. Now by digitization of the business I mean a comprehensive usage of ICT (Information & Communication Technology) not only within a business organization, but now through a more and more seamless linking and cooperation of information and communication systems of all involved business partners. While by usage of global network I mean that global networks allow the exchange of information without any restrictions in time and independently from any geographical distances. Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
Clarity Expert
I not an expert but I have owned a small manufacturing company in the past. And based on my limited experience here is how I would approach your project. You first need to figure out what your goals are for this project. What exactly is your business objective? Is it to produce and sell the Bentley of electrician belts on the market and differentiate by only using the very best materials on the planet? Is the goal to be the most affordable belt on the market? What is your value proposition and how will you stand out from the competition? The answer will determine how you get your product made. If you want the Bentley of belts, you might be looking at a hand made operation based in the US and if it's the cheapest priced belt, you're probably looking at a certain type of manufacturer in China to outsource the belts to. The next step I would take, depending on what type of market you will be competing in, is to determine whether or not you should be using a private labeled product. A private labeled product is a product that you order from a manufacturer who already makes that product but with your company logo on the product labels and packaging. This is how most products are made because it's the most economical choice due to economies of scale. If someone is already making that product, they will have more experience and they can combine buying power of the raw materials to bring the prices down even more. There are certain types of products that work the best with private labeling. For example, private labeled products work well with products like a toilet bowl brush or shower curtain or clothes hanger because people don't care about the brand as much as they care about the brand for a product like a TV or an audio system for your home theater or living room. When purchasing an audio system people care a great deal about the brand. Whether the brand is Samsung, Toshiba, Sharp, Sony. JVC, Pioneer, Denon, Yamaha, or Harman Kardon, the brand makes a big difference in how the product and price is perceived by the consumer. I have no idea if the brand makes a difference for Electrician belts or what type of market position is the most profitable so you'll have to do your homework. If you want to be the Bentley of belts and make a completely different design, you have less of chance going the private label route but it's not impossible for the design to be changed so you'll just need to find the comparable type of manufacturing company that can make a product at the quality level you expect. If you don't go the private label route, your job will be to set up your own manufacturing operation and you'll need to hire a textile engineer to help you with material selection and a VP of manufacturing with the relevant experience to oversee the entire operation. If selecting the materials is your only concern, you can hire a boutique consulting company that provides this type of service and their consultants will be ex textiles engineers etc. Or you can find retired people who used to work in that role. Or someone who changed industries recently. The reason for this is because people who are currently employed as textiles engineers for an employer is probably working under an NDA that prohibits them from giving out trade secrets or any sensitive information for obvious reasons, competitors etc. After you determine the materials, you can ask the private label companies to use those materials. Personally, I would simply use what everyone else is using because you don't know what you don't know and there is usually a good reason 80% of the competitors are using the same material. And that reason might not be immediately apparent to you which might cause headaches down the line.
Digital Marketing & Transformation Consultant
First of all I am going to assume you meant a CPC of $ 15 and not $ 1.5 because the latter would make you ROAS positive at a 5% conversion with $ 64. My second assumption is that a CR of 5-7% is your average CR and not for this keyword because at $ 15 / click you would not have enough clicks to get a CR in a $ 100 test- If this is correct then unfortunately you have not been near a statistical significant result because with $ 100 you can only have 6 clicks. Even if it was $ 1.5 and we were talking about 66 clicks this is still not statistically significant. I am sorry but this is far from statistically significant. Statistically significant would be at least a few hundred clicks spread over a minimum of 5 days (ideally 7 days). Now about your question of what you can do on the advertising side. One thing you can do is to improve your Quality Score. Check out this Google article where to find it and the components of it: https://support.google.com/google-ads/answer/2454010?hl=en Also check the Expected CTR as described in the link above. This might be a reason why this keyword is so expensive. If you can a better CTR than Google expects your cost might go down. Of course as usual the overall relevance of the keyword to your ad and your landing page is also important. So if it makes sense from a marketing perspective you could tweak your ad incorporating the keyword. You can do all this by using experiments and only changing one variable. But this is all very theoretical without knowing your correct situation. However before you do all that: ask yourself this is it all worth it? How much volume does this keyword get? What impression share are you getting? How many additional conversions can you most likely generate, even if cost were not an issue? And then decide if it is worth trying or if there might be an easier way to improve/ expand your advertising. One more tip: You were asking about the advertising side. I always tell clients to look out for possible micro conversions. You can think of micro conversions as sign post along the way to the goal (e.g. reading a certain article, visiting the site x times, signing up for the newsletter). If you give Google Ads all this additional data there algorithm can create a much more detailed model of your ideal customer because you give it more input to work with. Then you will get more quality customers which in turn will increase your CR and decrease your CAC. If you need help just give me a call. All the best Gerd TF
Digital Marketing & Transformation Consultant
This question is really hard to answer without knowing about what kind of exact B2B business we are talking about. However it is very easy to split test the whole process. You can use a free solution like Google Optimize or paid tools like: https://vwo.com/ab-testing/ Just make sure to attribute any leads correctly to the test like have a hidden form field with "no-price" and "showing-price" that will be pushed to your CRM, so you can find out the total conversion. Also make sure you get to statistically significant numbers. Most people stop way too early and believe they have found a winner. Just a word of caution based on my experience with one of my clients. When he added packages with prices, it made things more difficult along the way. My client thought he standardized his service with packages but it turned out he still needed to negotiate various details. That is because it is very hard to think of every aspect of a complex service and put it in a pricing table on your website. So potential customers asked for extra services, my client did not plan to include in a package. But after the fact it was hard to justify an additional fee because the price was already set in the mind of the potential customer. I hope that helps and if I can help you with split testing or anything else give me a call. Best of luck. Gerd Tittel-Feller
Clarity Expert On Growth Stage Startups
There are quite a few platforms out there, each one with its own intricacies. The first question is, can you raise funding without using a Crowdfunding platform? Running a Crowdfunding campaign can deliver good results but can be a lot of work and be a big distraction for the business. The best way to start is to research what platforms might be most suitable. Then it is worthwhile to sign up as an investor and to follow some of their existing campaigns and understand how they promote campaigns. This will give you an idea of which platform will help you find your target investor audience. It is also worthwhile trying to understand which platforms have run campaigns matching your sector in the past and whether they have been successful. Also looking to see how many campaigns each platform is running in a given month and whether they are achieving their goals. If campaigns aren't getting fully funded, it could indicate a mismatch in investor audience or potentially too much competition from simultaneous campaigns. Once you've shortlisted 2 of 3 platforms, the next step is to engage and meet/speak to each platform. Each platform will have slightly different business models. It is important to understand the details as it could impact your cost of doing the current round and any future investment that comes through investors introduced via the platform Also, don't be fooled; to raise a round on Crowdfunding platforms, you will need to bring your own investors onto the platform, typically contributing to a third of the total raise. This is necessary to ignite the campaign at the start and give it momentum. The platform will usually agree to charge you a smaller commission for any investors you bring on to the campaigns directly. These are just a few points to consider, good luck!