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If you have no cash to outlay, are there alternatives to equity for people who help you but aren't partners?

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Answers

Lee von

Unique Insights, Creative Solutions

You will always have to give people something they want (and you should give them even a little more than that as a gesture of being a good person), so you have to be imaginative and find the right people. To do this, the most valuable assets you have are [1] your location, [2] how cool and fun of a person you are, [3] what you can offer in terms of connections / networking, [4] how cool your product is, [5] how cool the name / logo / website of your company is, [6] how good of a job title you can give, [7] 'bonuses'. The biggest pool of people to look into are high school or (less likely) college students, because they're relatively early in their career, and have the most to gain from what you can offer. The closer you are to scoring a 10 out of 10 in all of the things listed above, the easier it will be to find someone that's willing to work for you. You would be paying them in greatly enhancing their current life and future life prospects. Here's more details on the items in the list: [1] If you're located somewhere cool (e.g. on the beach, in NY, SF, etc.), and could provide some kind of housing for free to someone from out of town (i.e. crash at your place or the office), that would be huge. [2] If you're a fun and nice person and have fun friends who would make the work atmosphere a lot of fun, that will help hugely. [3] If you're connected, or are obviously 'going places' that will help them with future job prospects, and just generally in connections with other cool projects. Even if you just went to a university that they want to go to for college or grad school, you could write a letter of rec for them. [4 - 6] You need something that would be cool for them to put on their resume, and that will be impressive if people (e.g. parents, friends, future potential employers, etc.) look up the website. This will help them in future jobs, self confidence, etc. [7] You should really give bonuses to show that you appreciate them and aren't completely just giving them stuff that you have 'lying around'. Give them money to buy lunch every day, or cook food for them yourself or something. Give them some stock, even if you multiply your stock by a million so it's essentially monetarily very little, giving them a couple thousand stock will still be giving them a part of something they helped with, so it's much bigger than it is monetarily. If you can think of other 'bonuses' like these, they'll help a _lot_ too. As you move forward, if you want to discuss any other aspects of a lean early startup phase just send me a message, best of luck! Lee

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Lauren Cecchi

CEO

Congratulations on the launch of your Beta testing! That is half the battle. My advice would be to slowly do another round of Beta testing and inviting people who you know will give you good feedback and help you improve your app. Then in the mean time get PR to pump up your app again for launch in a month. Not every app when it launches is perfect, we all have to update apps on our phone constantly so do not be afraid to go live. If you would like to set up a phone call I would love to chat more in depth because I have two friends who have get apps that I may be able to connect you with who have been in the same shoes as you!

Aishwarya Shiva

Technical consultant and Digital Marketing expert

First of all promote on search engines and social media. Start a blog and write at least 2 articles a week about the problems, how your product is solving them etc. Use tools such as http://ifttt.com to automatically post content from your blog to all the social media profiles of your business. I will suggest you to look at the list of social media site available at ifttt.com and create your account on all that are relevant to your needs. Reddit.com is the most famous social media platform that will help bring much attention to your business. Gain more followers in that area by using apps such as https://www.crowdfireapp.com/ You can also promote your business for free on local sites such as mentioned here: https://www.modernghana.com/blogs/713888/8-free-websites-to-promote-your-business-in-ghana.html Also, you can go for Reddit ads, Facebook ads or Twitter ads targeting only builders of Ghana. For a detailed explanation about these platforms, give me a call.

Carlo M.

Mentor to construction, distribution,manufacturing

I am not a software development or technology expert, nor have I managed this type of a company. However, I am an efficiency and cost control expert and will address some of your concerns. It is normal that young companies in all fields will encounter efficiency problems after a prolonged time of growth. As a company expands, it must evaluate and re-invent its structures and processes on a regular basis. The more employees a company has the more are processes and procedures diluted and outgrown. A process evaluation originating from the different tasks and services would give indications of strength and weaknesses. A further point might be that your department leaders are more technology oriented then drawn to business management. The size of their duties could have outgrown their management experience or capabilities. The implementation of simple but well designed structures with measurable processes will give a good management foundation for these department heads. Business coaching classes or mentor programs will further amplify new found management capabilities. It seems to me that you know exactly what the development of a new website or an app should cost and what resources must be called upon. You also know how much the customer will have to pay for this service in order to create a sufficient gross margin. I do not doubt that you have metrics and measures in place for these day to day operations. If this is the case and you have healthy margins, your efficiency problems stem from structural, administrative and goal setting deficiencies. It is most likely that your corporate structural set-up (organization), chain of command and departmental goal setting need an overhaul. Streamlining procedures that mirror present and future needs and that increase ease of execution. You likely experience also an expenditure and cost overrun problem that needs to be harnessed. Fast growth creates in many cases a cumbersome administration that tries to capture intelligence in a catch-up setting and often tends to cause operational grid lock. I also expect that the overall corporate culture has changed during the last few years, causing a divergence from the original mission and vision. This cultural change, if not captured, can even derail the most recent corporate goal settings. The more people that work in a place the more cultural change is happening. This does not need to be a bad thing, but the company has to account for it in its most recent business model. Without knowing details about your enterprise, I would strongly advise that you look for the help of an experienced operational expert. An efficiency strategist that will lead the design and implementation of growth oriented processes and procedures that are coupled with metrics and goal settings. The refined structural or organizational modifications must reflect the values and the vision of the company. This process will involve a task force from your company, people chosen from different areas and rank. The active involvement of this group will ensure that your company values and characteristics are carried in the plan and the company employees have a solid buy-in. Changes might be subtle or they can be sever in places. Only an analysis of the present situation can produce a conclusive answer. Please let me know if I can be of further help, either by answering specific questions or by further explaining the process improvement actions. Please feel free to contact me with your follow up questions - I'll be happy to help.

Lauren Cecchi

CEO

Just because your startup didn’t or won’t succeed doesn’t mean it was a failure or you are. In the start up lifestyle you get to learn things that other individuals at larger corporations don’t. You understand what it is like to raise money, work with little to no money, and really pour your soul in to your company. If your startup comes to an end, many companies would love to hire someone with your passion and who is willing to do the small stuff to get to the top. Entrepreneurs think differently than others so it is great to have that point of view in any office setting. I don’t think you should have a problem finding another job in the start up world or continuing as a financial analyst but many companies would love to have you on their team to bring a different dynamic to their company. If you want to discuss anything further feel free to set up a call with me ☺

Mike Wienick

Entrepreneur. Ops Exec. Advisor. Angel Investor.

It's worth noting I'm not a lawyer (I advise you to check in with one) but have played a major role in 4 acquisitions. I would have the contract read that your client pays the success fees, seems a bit odd to have the acquiring company pay the success fees. Let them negotiate with the acquiring company on covering it, but contractually have them responsible. If the above is not an option make sure the assignment clause in you contract with your clients reads correctly. That said keep in mind that a lot of acquisitions are not whole business entity acquisitions - meaning in a lot of cases it is really an asset sale. By only purchasing assets the acquiring company can protect itself from litigation and debts. If it is an asset purchase they may be able to get out of paying you - again this is why I would push for the success fees to be paid by your client.

Rui Delgado

Entrepreneurship / Online Marketing / E-Commerce

This issue could be something the founders are unable to control. Now it has become a trend that founders (and early employees) can liquidate some of their shares on a Series A or Series B round. Investors found this a necessary step, so the founding team don't think of selling out the company too soon just because they didn't have any money. This article would give you some guidance on the matter (and also a few situations you have to beware of.)

Rui Delgado

Entrepreneurship / Online Marketing / E-Commerce

I'm afraid they will not take you in if you're working with another company. They would see this as a potential conflict of interest. However, that position you're describing -Country Manager- could come with a good salary and opportunities to grow within the company. What you should do is to make a list of every company you want to work with, and look for other "Country Managers" (that's the position you're describing) in the company are: their background, profile, M.O., etc. If you fit the profile, you should pitch them as hard as you can, and you have to have a good strategy to do so. Remember, if you can't reach them, it means you will not be able to fulfill your duties as a country manager. You have to show them what you're capable of doing.

Rui Delgado

Entrepreneurship / Online Marketing / E-Commerce

You would have to be a little bit more specific. But what I would suggest you do is to go to Meetup.com and look for startup events in your area, also search for Startup Weekend events. Good luck!

Jason Lengstorf

Expert in location independence/work-life balance.

The short answer is yes. Long answer: All of the systems you're talking about can be modified by a competent developer, so if you're willing to invest in custom development, you can definitely create the system you're hoping to put in place. Out of the box, it may be possible, but you'll need to coordinate your questions between the support teams for the tools you're using. The math isn't hard, so the custom development would be a matter of doing the math in the right order, and feeding the adjusted amounts to the next link in the chain. How easy that is to actually perform will depend on how developer-friendly each tool is. I have extensive experience modifying WordPress and WooCommerce, and I've used AffiliateWP system for clients in the past, so if you need help with planning, I could give you a high-level implementation strategy to carry down to your developers. Or, if you need developers, I'd be happy to make an intro to a team I trust that has been customizing WordPress and its plugins for years. Good luck!

Michael Von

Business & Marketing Success Consultant & Coach

Hi, I have worked with several companies helping them with the same challenge. First of all, I don't know exactly what your mhealth app does for the user or what benefit it gives the healthcare provider. But I would encourage you to work with large Managed Care Organizations because to the ease of working with them and the variety of types and severity of health conditions that their patients have. For more information on business and marketing, click More on under my profile. https://clarity.fm/michaelvonirvin I hope this helps. Best of luck, Michael Von Irvin, MBA, RN upvotes and shares are always welcome.

Racheal A.

Full Stack Business Development Professional

Hi, I love naming and branding! Plug.Press would be great for it! Feel free to book a call to help you decide on variations or if you need any more assistance.

Rui Delgado

Entrepreneurship / Online Marketing / E-Commerce

In my experience, what I've seen is that you should clarify right from the beginning that they should use it within a year (365 days). Also, you should work on to your strategy to bring clients back to the platform. What you want is to people to spend that money as soon as possible so they would spend more and more. Remember, a great e-commerce platform gets 50% of their revenue from returning customers.

Stan North

Clarity Expert

The answer depends on how many patients are in the study, how many investigational sites are in the study, and how long the study length is. Other facts that can affect the cost is what sort of materials must be provided to each patient (smart phones? tablets? etc.). So, the cost could be several hundred thousand dollars, or perhaps much more than that.

Miles Matthias

Solutions Architect at Stripe

I'm the CTO of a company, so I'll answer your original question. One of the areas I'd love to see a SaaS product solution is reporting. Developers like myself often just focus on building the product and if they're smart, like yours truly, we add analytics. But getting a clear picture of the business can still be difficult with different people on the team preferring different methods of communication. Some of our stats go out via email, and the people that like email only see part of the picture. All of our stats go over Slack, but not everyone likes Slack. I ended up building weekly email reports that totals everything up and gives the single, clear picture. Not every team has this capability though, and a single API to report significant events in the application with configurable communication methods for reporting and notifications would definitely be something worth paying for. Along with other people in this thread, I'd definitely recommend talking to as many developers and companies as you can to identify real problems, rather than looking for one where it may not exist.

Rui Delgado

Entrepreneurship / Online Marketing / E-Commerce

There is no right answer for this, but definitely, you need to have a 'hustle' aggressive approach when you're launching something new. That means to dedicate some time to get in front of the right people. You can start by joining Facebook groups in your category, going to meetups (as a host and/or as a speaker), and create a Facebook group or a Slack channel for early adopters. The important part is to be in front of as many eyeballs as possible and to build a community of users/supporters.

Humberto Valle

Get Advice On Growing Your Real Estate Business

PHP is not outdated, there is no real concensus on what is the most popular programming language out there, some people are obviously biased, some based it off number of job postings in which case PHP and possibly .NET are the top ones. It depends on what you are doing. See them as upgrades on each other.. not that they are bad, just depending on the workload you'll put it through. With that said, there is no real answer to this either, it depends on who you can find, the number of resources you yourself can find on the language for help, feedback, etc. Go to builtwith.com and it will tell you the stack any website is built upon including the framework and languages :)

Cody Lister

Entrepreneur, Blogger and SaaS Marketer

Try Nerdy Data or BuiltWith.org to find SaaS companies using Stripe

Humberto Valle

Get Advice On Growing Your Real Estate Business

Yes, thats understandable. If a person if giving you money on the spot, you have to rewards them on the spot for their risk. Their money is not convertible they are essentially exchanging their cash for ownership. Do you know what is a strategic investor? If so, I hope you mean someone who is involved and leveraged in the industry you are staking and will help you directly with not only cash but also connections and on hand work. If this is the case then you will probably have to increase his stake considering this, or have an additional % stock after a certain period on top of what he is getting for his cash.

Rui Delgado

Entrepreneurship / Online Marketing / E-Commerce

If you have a substantial community, it's just a matter of sharing the same content (depending on the social media platform) with a different approach and see what they react to. You shouldn't focus that much on research but to see what get people to convert into users or clients. The reality of a startup is that most of the cases, you can't do exhaustive research, and what people consider as proof-of-concept is always going to be sales/conversions.

Lee von

Unique Insights, Creative Solutions

There are two main standards, the UL (USA's "Underwriter's Laboratory"), and CE (European Union's "Conformité Européenne"). The CE will let you sell in the US, Canada, Australia, and the EU (I'm not sure about the Middle East though). The CE is harder to get than the UL, since it includes standards of safety and functionality, while the UL only includes standards of safety. You can find the UL standards here: http://ulstandards.ul.com/access-standards/ and here are instructions for the CE standards: https://www.gov.uk/guidance/ce-marking if you'd like further assistance with what specific standards would work with your product, and/or assistance with US patenting let me know, all the best, Lee

Shaun Nestor

Content Marketing Advisor & Agency Consultant

First, this should have been decided before you created the YouTube campaign. Always have your finish line defined before you start the race. Since that did not happen, however, your next best option is to determine what best impacts your business. It is tempting to look at "views" or "likes" or "subscribers" as a measurement of success, but, ultimately, those are vanity metrics. They look good, but they do very little. What do you want people to do after they watch your video? - Buy something? - Sign up for something? - Donate to something? - Take a trip somewhere? - Call a friend? Those actions will be what you should measure the success of your campaign. All the best, -Shaun

David Favor

Fractional CTO

Here's a trick you can use. For tech people, search GitHub for people producing code using the tools you require. For COO people, review videos of people giving talks at industry conferences + tradeshows related to skills you require. For CMO look at WordPress.tv + conference videos for people with both tech skills + marketing skills. Sometimes having a CTO with marketing skills is far better than having CMO with tech skills. Another test/question for CMOs... "How much are you currently grossing every month from your personal projects." If you're looking for competent CMO, look for someone making a truck load of money... without ever leaving their house... Then be prepared to pay them even more to get them out of their house.

Humberto Valle

Get Advice On Growing Your Real Estate Business

From my own experience I would say so. Technically platforms like Instapage, which I have extensively used, do have an SEO feature built into them, although I really don't think they work - is very basic and any good SEO person would know that meta tags and key words are only the tip of the search iceburg. Landing pages should always be a/b optimized, if you can pull that off yourself without these platforms then go ahead because ultimately you can customize to full seo needs.

Taylor Barr

Affiliate/Referral/Partner Program Expert.

There is a lot of points in your question which unless someone has the exact same setup as you - I don't think you will get the answers you are looking for. I believe you should limit it by asking yourself: What is the ONE thing the MLM plugin I am looking for can do so that it achieves the maximum amount of result to my business by using it? IMHO - it would be the ability to set commissions for the products you sell and award commissions to those affiliates that actually earn you sales. All other features, while nice, are ancillary features that from the perspective of the affiliate - don't really need in order to be successful. In that regard - I would suggest https://affiliatewp.com/. When it comes to running affiliate programs on WP sites, it wins out as the best in my experience. Hope this helps! Glad to assist any further if you need help.

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