Operations answers

Is there value for a startup to try and partner with a bigger company (for greater visibility/distribution)? What should I look out for?

Answered by Mark Ruddock Posted in Operations Marketing

I believe there is huge value in doing this ... brand visibility, rapid distribution, revenue growth (using someone else's capital), a potential eventual exit etc. ... just... (more)

I have identified a new solution for one of my clients through the use of a 3rd party. How do I include this 3rd party in the relationship (as they are the experts in this...

Answered by April Dunford Posted in Operations

I've done deals like this with various results. In general, if it is a partnership agreement companies will handle this through contracts that state that if you bring them ... (more)

what tools are out there to keep social media guideline documents updated. creating a document that Facebook ensures needs to be updated quarterly, how can i do this witho...

Answered by Maggie Fox Posted in Operations

If I understand the question correctly, you're wondering how to create a dynamic set of guidelines that are available on the open web? I'd suggest from a technology perspec... (more)

How can I judge whether or not I have enough traction to keep going?

Answered by JS Cournoyer Posted in Operations Money

If you're seeing growth month to month, have a manageable churn rate and a scalable business model, you should probably keep going. The key point here is: Are you passionat... (more)

I am looking to develop a team to help me build my idea. Someone who will be committed and determined. Where can I find a the right people?

Answered by Noah Godfrey Posted in Operations

Network network network. You're selling your idea and asking people to jump on board with their time, heart, soul, brain, experience, (money?), etc. … so find out where the... (more)

Setting up a Delaware C corp. and want to make it as investor (Silicon Valley VC) friendly as possible. What are the major requirements?

Answered by Duncan Hill Posted in Money Management Operations

You should talk to a startup lawyer about this. James Smith at LeBarge Weinstein, Derek Keay at Gowlings, Chris Chapman at KPMG, Rubsun Ho at Cognition Partners. In gener... (more)

During the early stages of Mint when you were only paying your employees $30,000/yr when the going rate was approximately $100,000/yr - how did you determine the percentage...

Answered by Aaron Patzer Posted in Operations

Seed / Angel stage: Early employees = 1-2%, VPs = 2-4%. After you take funding, it drops to 0.5 - 1.0% for engineers / employees. (more)

What guidelines should I follow when choosing a lawyer for my startup?

Answered by Ivan Gaviria Posted in Resources Management Operations

Choose from the right pool as a first step. Getting someone with domain expertise, who has great relationships in the startup ecosystem and has seen a LOT of deals will mak... (more)

How do you split equity among multiple co-founders?

Answered by Dan Martell Posted in Money Operations

If you start day one together, then 50/50. Everything else is up for debate. People who deserve the most - Engineer who built it. - Person who raises the money / gets sal... (more)

I want to build a technology startup and need some advice on how to attract great mentors like yourself who can both guide us and bring credibility to the startup?

Answered by Dan Martell Posted in Operations

Pick 10 potential advisors, try and find someone you know that can make a warm introduction, ask for advice and start there. No one becomes a mentor .. it's a relationship... (more)

Where would you recommend we source some talent to assist with a biz plan / term sheet - pro bono? While the basics are complete, we're now financially tapped out to make ...

Answered by Duncan Hill Posted in Operations Management

Check out groups like MaRs in toronto, communitech or Accelerator centre in Waterloo. Groups like these will work with early stage opportunities to help you get polished f... (more)

Over time do customer acquisition costs increase or decrease for online businesses?

Answered by April Dunford Posted in Product Development Money Operations

That's a great question! You might think that they would go down because as you got more popular and had better brand recognition, more of an online presence, etc. it would... (more)

When you do projections and don't hit them in the first quarter, is it okay to adjust the future projections or do you continue on measuring against what you said you were ...

Answered by Michael Garrity Posted in Operations

Both. Hold yourself and your team accountable for your forecasts. Understand what didn't go as planned and what will be different. Then re-forecast based on the new info... (more)

What should my partner and I set as our respective ownership interests/distributive shares in our LLC? I'm more experienced and have been paying all startup costs. He's p...

Answered by JS Cournoyer Posted in Management Operations

tough one to answer. Really depends on the situation and how much value each of the partner is expected to bring over time, in relation with the risk being taken. You can a... (more)

How much value does a company gain if any with IP patent vs. a solid business model?

Answered by Duncan Hill Posted in Money Operations Technology

If you have patentable IP, get the patents. In my experience, patents have little value to a tightly funded startup who doesn't have the funds to litigate, but they often ... (more)

Why could not Banks do exactly what Mint did? They had access to everything Mint needed to be successful?

Answered by Aaron Patzer Posted in Management Operations

Did they have everything Mint.com did? I personally don't know any awesome programmers from top 10 schools (Duke, Princeton, MIT, Stanford, Harvard, etc.) or the best prod... (more)

What role does the founder play in the early days of a company?

Answered by Dan Martell Posted in Operations

It all depends on their strengths and how many people are involved. If it's only 2 co-founders then I would say building product & marketing. Founders in general are resp... (more)

What is the best structure for a Marketing and Sales Department?

Answered by April Dunford Posted in Operations

It would probably depend on your product and target markets. The only big issues I have ever seen with the org structure is when you have marketing reporting into sales. Ne... (more)

I have an idea for a website but I don't have the technical skill and the team to get it started. I also want to protect the idea from leaking since it's not yet in the ma...

Answered by Garry Tan Posted in Management Product Development Operations

Most first-time entrepreneurs seem to wildly overvalue the value of the idea. The idea is merely a multiplier on execution. http://sivers.org/multiply So, given that, re... (more)

Hey Eric, does the lean startup principles apply to off line brick and mortar companies and do you have any example of such?

Answered by Eric Ries Posted in Product Development Operations

Yes. Check out the Nordstrom Innovation Lab: http://www.startuplessonslearned.com/2011/10/case-study-nordstrom-innovation-lab.html (more)

Sign up for Sprouter

Operations answers