I finally have something that belongs in "Business and Law!" Saying that, this isn't necessarily "Academics..."
Anyway a few of you might remember when I had a startup a while ago. Pretty stupid post since KS deleted all the actually important info. Well I've been working on something for a couple weeks. I've recruited some people to help me, including a couple of finance/business experts. They like the idea. During a meeting with one of them, he explained to me how we can drastically improve revenue and suggested a completely new idea for it. We did the math and he showed me this:
(Yes I covered up sensitive information and numbers; deal with it I'm not showing y'all everything.)
Basically this dude knows a LOT, which is why I recruited him (also other people like a professional business guy with extensive business education). Since he was typing fast and made some typos (note: "app" is a typo), basically here's what he said: This thing is big. We're talking a multi-million dollar company within our first year at the very latest. More likely within the first quarter. AND that's even with just a 1% conversion rate. If we can build that up to 10 or 15 or even 30%, we're talking massive. He's not just saying this, he showed me the math and these guys are really invested in it. They're willing to work for free until the big bucks start coming in if that shows you that they're serious.
What's more, this is a brand new idea, a whole new thing. KS probably won't let me get into details, but it's essentially a company for other companies. It's a whole new revolutionary thing that we don't have any competition for and it's a fresh, open market. Plus, the revenue we'll generate is going to be high and steep. We're talking massively exponential within the first few months.
Yeah, there are a few problems. For instance: nobody on my team knows I'm a minor. We're about to establish an LLC but I need a Registered Agent. I don't want that to be me for several reasons, and I'm not sure any of my team wants to be either. There are companies that offer RA services so I might consider just sucking it up and paying for that since it'll get rid of a lot of legal complications (with a thing like this, there are a LOT of legal complications).
Another problem is our funding. Obviously there are plenty of ways to remedy that, we just haven't executed them yet. We're actively seeking out investors and we were discussing launching a KickStarter for it. I recently got a guy a marketing agency he's creating and I pretty much told him "hey, we'll be the restaurant and you'll be DoorDash. We have the big business but you'll be a crucial aspect of actually making it function." I told him he'll still get his name and a handsome commission if he works for us. He wanted time to think on it so I'm hoping for the best (fingers crossed).
Investors are going to be a little tricky but we'll get there. We established a plan to set up a slightly smaller system first under the same name so that we can generate our capitol before we start hiring our coders and developers and whatnot. So that's what we're currently working on. Also like I said, an LLC needs to be established soon because otherwise we're going to be exposed to unlimited liability. Also there's a bit of debate as to whether or not we need a patent because this is kind of a gray area in that realm. And we need to incorporate. Also find some more team members (even just some freelancers who will write up some things or do website stuff for us).
Yeah. There's a lot to do. I'm trying to find a legal person who's interested in joining the team to be our full-time legal aid support. I'm offering a high rate of return for any investors who will join us. We also considered just incorporating a new company and launching an MVP. There are options but none of those will be easy. We all agreed to do this thing and that's what we're gonna do. It'll be heard but well worth it in the end.
I could go on and on but I doubt any of y'all have even read most of this. I wish I could share more details but I doubt KS would let me. Ask me anything but what I can give out might be limited due to mods and private company details.
Oh also I've done a lot of graphic design stuff in the past (including many versions of our own company logo) but I recently made a logo for a marketing company. It's also their Discord server's image now.
Wow, look at me. The founder and manager of what will become a very successful company and here I am on a kid's chat forum talking about how someone used my logo. Sorry mates.
