Dan Martell
| Name | Dan Martell |
|---|---|
| Location | San Francisco |
| Website | http://clarity.fm/danmartell |
| Bio | Canadian. Founder of Clarity.fm. Co-Founder of Flowtown (Acquired '11). Mentor @ 500Startup & GrowLabs. Angel investor in 15+ startups |
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what is the best place to look for people to work with on a startup idea? startup meetups? the one's I've been to seem to be all about "networking", but when it comes to actually doing real work people seem to be reluctant.
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Founder Dating, Startup Weekend, Technical User Groups and Meetups. If you create an online brand using Twitter / Blog /etc and tweet at people – you’ll eventually make friends with them over the internet.
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How do I decide how much equity to trade for funding?
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Ideally you don’t want to give up more than 35% in your first round of funding .. and that’s a lot. Normal funding rounds for seed stage right now are 15-25%. Anything more isn’t great but depending on your location you may not have options. Anything more than 35% and the investor is an idiot.
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I have a niche book publishing start-up with 3-year projected revenue of $4mm. We are using family and friends to raise $400k funding, and finding it difficult. I have a single investor willing to give the $400k for 10% equity. 5-year projection is $7mm. Is a straight 10% of 3-year projected revenue an adequate formula for equity exchange? We're lifelong publishers and confident with the projections, but there are 4 principles reticent to give up 10%.
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10% for $400K equity sound fair as long as the terms are set right in regards to how / when he gets liquidity (assuming dividend). If you don’t have options I think this is fair.
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How can a startup notice what is the best moment for hiring?
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You should always be hiring .. you never now when you’ll need to grow, so always hire. Now, that doesn’t mean you bring them on right away. Just keep them close to the company so you’re ready.
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I'm thinking of using the lean startup methodology, and have a plan of creating the MVP. However, where do people usually find these beta testers? Also, what are some ways to differentiate yourself in a crowded market?
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To find beta testers, just ask around – on Facebook, Twitter, etc. Sometimes you need to cold call them or ask for feedback from strangers in a coffee shop. There’s no easy way around this.
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hi Dan it nice of u to be helping out see i have started a website called uniplexs . and i have a really good business model s for it i have also got the best team of vfx artist , advance web developer , cfo, cmo , me founder, coo ect. or fb page grew from 0 to 1000 in 3 days pre release and now we plan to execute our mrk plan in our city and expand but my doubt is if we reach 20,000 to 50000 in 2 weeks should i approach an angel to get funded in order to expand .and tips on seed funding.
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If you’re building a $100M dollar company + have a product that people love and keep coming back to us – then yes, approach angel investors. Your traction should speak for itself.
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i have an amazing idea for a social network that even the name is catchy foldrs.com I have come up with a design that no social network has and i know right now there is a spot open for a one because as a user of FB i have seen everyone post their hate for the new timeline feature it was even featured on yahoos front page titled as business biggest flops of 2011 im a college student with virtually no money i have tried to contact google and yahoo with no luck how can i get this idea started?
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Find a programmer and see if they’ll join you in your journey.
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When you say growth engine, what do you mean?
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What resources did you utilize when you were younger to learn all the knowledge you have now. For instance, design, development, entrepreneurship, etc.
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I started companies and as I hit a wall, I would learn the thing I needed to. It’s really that simple. Just do.
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in pre-seed stage, how does one strategize your raise targets....here in .ca land only....
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Follow this process for your local area. http://swooshing.wordpress.com/2009/03/19/startup-seed-raising-skillzzz/
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