Hi there, Congratulations on your scholarship! I am both a startup adviser and college professor. My advice is based on my experience in the US, so please bear that in mind. Typically a personal statement is a combination of resume, aspirations and suitability. In that the school wishes to see...
Hi, great question. You determine the value of the business before the partner joins, then you determine the value of what they bring. You then issue new shares to them. I made this video which may clear things up a bit for you. https://youtu.be/1EjKjSAd1F8 And this one about share dilution: ...
[Background: I started my first business at 12, 3x founder by time I was 22. Named by White House as one of the top US entrepreneurs under 30.] Young entrepreneurs can succeed, just like older ones can. Younger founders have certain pluses that older ones don't, and vice versa. One group is not...
If you're bootstrapping, pay yourself less and re-invest in the company. If you've raised money, then pay yourself average salary as you aren't subsidizing and getting more stock (for the $$) as an investor would - so once you raised, then it's a shared risk - don't make the financial subsidy a ...
If you are having doubts about taking the money then don't do it. The reality is that as an investor, a day will come when you are succeeding and there is room for a lot of growth - you are there now. If you think you don't need them, either raise the amount or lower their stake to were it is as ...
Start of by using a site like udemy (https://www.udemy.com), they are a platform for creating online courses and handle payments for you. They may have some users who are in your sector. It sounds like finding 'customers' is your main issue. There is no panacea here, the approach you've take...
Thanks for asking this question, its a good one with little answers out there. Having been a phantom equity partner in a start-up myself, I would say phantom equity didn't give me the push to be all in as much as real equity would have. I never felt like a true partner. Reason being, the owner wa...
You are competing against Amazon at that point, I would pick an underserved niche that you are most passionate / knowledgeable about and start there. For instance, drone after market accessories like stickers, lights, carrying cases, etc. Look for some trends using Google, Pinterest, etc. It's bu...
The biggest challenge is not finding money but finding viable livelihood options for the poor. I suggest you study Prof. Yunus work. First work with the poor and let them come up with local opportunities for generating income. Take a few viable cases and fund them. Once these ventures are viable,...
I'd suggest that there is no "should". The beauty of being an entrepreneur is that YOU get to decide what success is. In fact - In the system I use with entrepreneurs you learn to define "success" for yourself and build it into the requirements of your business model.