Launch Chat

This week we're doing something different. Instead of our normal daily Q&A, we're releasing a longer coaching call focused on the four main beliefs that hold most startup founders back from raising money.

Today’s question comes from Linda. I’m curious how to manage time off at a startup. Are there certain days I have to give off for my employees? Should I set out expectations so people know they should take time off and how much?

Today’s question comes from Chris. I have an idea for an app but I’m not sure where to start. What are the best validation methods for today’s market?

Today’s question comes from Bill. I have a large potential customer who would pilot our software if we can integrate with their time-tracking platform, however, it doesn’t have an open API. What are your recommendations for managing integrations and partnerships?

Today’s question comes from Lucas. How do you find your initial users outside of using social media? What offline methods would you recommend?

Today’s question comes from Kristoff. I am familiar with how to leverage SEO and ads, but how do you bring in traffic for a product you don’t have ready yet? Where and how can I get backers who will support my dream without a finished product?

Today’s question comes from Jeffrey. The implications of sales tax on SaaS products for startups are tremendous and could present hurdles for many. Are there resources keeping records of the sales tax laws by state so that we don’t have to research state-by-state?

Today’s question comes from Chris. From my perspective it seems pointless to look for a great idea anymore and instead focus on executing on ideas that may not be sexy. Is this the way we should be looking at startups now?

Today’s question comes from Broughten. I want to start measuring the data points that my company has available because everything I’ve read says data is a key component of a successful startup. My non-technical co-founder thinks it’s too early to think about those things. Is it really too early? If not, how can I convince my co-founder it’s the right thing to do?

Today’s question comes from Mitchell. I recently started paid campaigns to drive traffic and awareness to my product website. I’ve tested different audiences and creatives but I haven’t gotten much traction so far. What else should I test?

Today’s question comes from Cynthia. I am currently building out the MVP for my startup and every article I’m reading says the next step is to get a co-founder. Why is that?

Today’s question comes from Jack. I am a senior in college and running a small business. I got invited to a startup accelerator program and now I’m deciding whether or not I should take a full-time job and work on my business on the side or take a side job and work on my startup full-time. What would you do?

Today’s question comes from Robin. What’s a reasonable expenditure for computer equipment for developers in a startup with funding? Would you suggest giving them a budget and letting them buy their own or getting their preferences and purchasing for them?

Today’s question comes from Christian. I’ve been working at a startup for the past year. My salary wasn’t very good to start with compared to market value. We are talking about a pay raise at my one year review and I want to know how I should approach this conversation.

Today’s question comes from Julio. A few months ago I founded a C-Corp and incorporated it in Delaware. Is there a mechanism to reimburse the money that founders spend prior to creating the corporation? Do founders typically try to recoup that money?

Today’s question comes from Jason. I have a contractor who’s building a mobile app for my startup and he’s willing to accept 50 percent equity for his work. I’m short on cash so this is an attractive offer to me. What are your thoughts?

Today’s question comes from Dean. I’ve been working on a business plan for a while now and have been doing some business development and am just waiting for the right time to invest capital. However, my spouse recently told me she has no faith in the idea. What should I do?

Today’s question comes from Cynthia. I have decided to start an industry-specific digital media company. I have a test client ready to go - is this the right time to start an LLC?

Today’s question comes from Braxton. I’ve always had ideas for startups and inventions, but I’m concerned about protecting my ideas. Am I being too paranoid, or is this normal?

Today’s question comes from Miguel. I currently sell a health product through an e-commerce store. I have an idea for a product collaboration, but how should I approach the company I want to collaborate with? How do payments for something like this typically work?