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Ask HN: How to found a company as a single founder?

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Re: Ask HN: How to found a company as a single founder?

#71
Sorry to hijack someone other's question. I have a question of my own.

I co-founded a company with one of my family friend around last year and made the silly mistake of trusting blindly by not signing a partnership agreement. I completed the whole development of the project and there has been inflow of cash but since then there has been radio silence from their part.

So i have registered my own company and ready to deploy the same service of my own.

Since i know the product will sell, i know i can develop a better product than the existing but i lack knowledge of business side of things.

Any advice for me ?

Re: Ask HN: How to found a company as a single founder?

#72

It's still too early to declare my new project a success but compared to several failures, it seems like I've finally cracked the code. There are a number of things I am doing differently this time, but the most significant seems to be that I am now using a coach. This would have made me laugh earlier but it's been great value to me. As a single founder, it can be very hard to stick to commitments and keep a clear vi…

Sounds like my girlfriend. :P

Naw, but I guess that's technically two people.

Re: Ask HN: How to found a company as a single founder?

#73
post #2

Serial single founder here. Start building and start selling. If you can’t deliver a product to a paying customer solo then you’re not cut out to be a sole founder.

That's easy to say. I can deliver the product, but I'm worried about sales taxes, VAT, compliance with laws, administration, support, etc.

Taxes, VAT, compliance are mundane.

Marketing/Selling, and building the right thing ... this is the hard part.

If you can do the later, most of the ops becomes ... just ops. It's just work. It can be done.

Re: Ask HN: How to found a company as a single founder?

#74
post #16
post #2

Serial single founder here. Start building and start selling. If you can’t deliver a product to a paying customer solo then you’re not cut out to be a sole founder.

Solo founder here. Same advice with the caveat that 98% of people should never be solo founders - you must be able to code and sell - but even if you can you should still get a partner if they double your speed.

What if cannot code to the level needed to get an MVP?

Re: Ask HN: How to found a company as a single founder?

#75
post #27

ideas have no values, implementation does the very same idea could be implemented in different ways, some would work, some other would fail the only way to be sure is to build it and ship it, eg. "does my implementation provide value to customers or not?" it does not have to be big, it does not have to be perfect, it does not have to be complete (avoid the features creep), but the implementation itself or the product…

> ideas have no values Fully fleshed and well-justified ideas worth hell of a lot.

listening to an idea is entertainment

showing the idea is proof

Re: Ask HN: How to found a company as a single founder?

#76
post #7

Earlier quoted context omitted.

This pretty much sums up everything. I had a similar problem trying to sell my products. If you're a solo founder learn how to sell first. Finding cool marketing strategies is great, but people need to see real faces before buying your products. It is not always true, but in general that is what I've seen so far.

Could you expand on the "real faces" part as opposed to, say, a good stable of content and decent testimonials? Do you mean full on sales calls (vs. just marketing) would be needed for a SaaS product of relative complexity? Or am I missing the point? Thanks

Sure, by real faces I mean pitching your product to people directly. Not necessarily over the Internet but in person. This is a step that is often missed by a lot of tech people wannabe entrepreneurs (including myself). We think the Internet is a magic place where you can launch anything from your bedroom and reach millions of people if you use the right marketing strategy (ads on youtube, cold emails, viral strategy, gamification, etc). I call this the scaling phase. You can't scale nothing. If you have zero user and zero customer, what do you want to scale?

So step zero consist on acquiring your first customer/user. This is usually when having a non-tech co-founder or someone who's good at selling would make a huge difference. We always bypass this step of acquiring the first customers, it's only when you build something and ship it that you hit a wall. You will not rank in google at first, no one will ever mention your name and the only queries you'll get on your SaaS or whatever product you have will come from your own IP. That's what I'm talking about. You just launched, now what?

So you need to go out there and "manually" pitch your product to people. Introduce yourself, tell your story, prove people what you've built is what they want. You would usually fail capturing the needs at first because of a lack of interaction with your targeted users, you will build something that isn't exactly what they want. So you need to quickly adapt to that early feedback, which is why going out there and trying out your MVP or prototype very quickly is a key to success. This is what I mean by "people need to see real faces". You could pitch your product to your mom, friends, potential users, potential partners who could help you move to the next step, etc.

The best way to find out "how to found a company as a single founder" is to give it a shot. You'll basically collect all the answers to your question.

Re: Ask HN: How to found a company as a single founder?

#77
post #33
post #20

Earlier quoted context omitted.

I agree with this except switch the order. First, start selling. Then start building. It is so easy to waste so much time building something nobody wants, and you won't know until it's too late if you try to sell it afterward. Selling first will inform your decisions on what to build.

The advice makes sense, but isnt it a bit of chicken-and-egg? How do you sell something you haven't built? (or is it really .. build a little, or enough to illustrate; then 'sell' to validate and seek market fit; and then finally truly build?)

MVP or fake page with credit card info or email information that says you're sold out.

If you can convert random users to paying customers then you're on to something. Otherwise your project is most likely going to flounder. Some people may think it's dishonest but without verifying you're going to spend weeks to months working on something that will never be used.

Re: Ask HN: How to found a company as a single founder?

#78
Solo founder here. I've experienced several group size startups in the past 10+ years, and ultimately arrived to the conclusion that solo founder is the best option if you're cut out for it. As a solo founder you need to be a jack of all trades, master of none. Constantly experimenting, learning, and open to criticism.

I've been apart of large co-founder group (4+) which I don't recommend at all. Once our company went above 50-60 people the co-founder relationship just imploded and after 100+ employees, none of the co-founder were apart of the company and it eventually shut down by the investors who took over.

I've also had a co-founder where we tried but eventually had separation of idea and roadmap but the toll of the pressure was too much. You not only have to care deeply about the project but also the other co-founder and if one side is more into "glory" of a startup founder, then you're in a failing relationship.

As an eventual solo founder, I realized the size and ambitions of the "startup" are extremely important. Small ideas are ok but might not be exciting enough and big projects are nearly impossible to pull off. Figuring out how to recruit contractors and split the work load to achieve MVP is the trick.

Important tools and mindset you need to master: 1- Jobs to be done (JTBD) 2- Objectives and Key Results (OKR) 3- Sales pitch (not just a pitch deck or executive summary) 4- UX and technical skills (aka: jack of all trades) 5- People management (not just project/product management) 6- Open to criticism (nobody wants to tell you your baby is ugly, you have to assure them they can be honest with you and you'd want to hear the brutally honest feedback) 7- Go to market strategy (value props and business model) 8- Network effects 9- Time management 10- Business, legal, accounting, payroll and taxes

Re: Ask HN: How to found a company as a single founder?

#79
(Solo founder, one-man shop, 12+ years in, Mentor)

There's a lot of great advice already so I'll just add: Create a bi-weekly, private email newsletter. Your biggest fear should be getting too heads down and building the wrong product or somehow losing the plot.

Create a newsletter for friends, family, developer peers, teachers, and anyone else you can think of.

Every two weeks you should outline what you accomplished in the last two weeks, what you're working on in the next two weeks and the plan for the next six weeks. The simple act of broadcasting the newsletter will help keep you accountable and focused. Good luck!

Re: Ask HN: How to found a company as a single founder?

#80
Simply put, if you are starting off alone, you need more money. I can think of two women I've worked with who were outstanding project managers, and who could step up to the role of COO. Neither of them have enough spare cash to endure the craziness of founding a startup, but both of them could play the role of June Martino, if I could pay them, and that is basically what you need if you are a solo founder. I would look to hire someone like that right away.
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