Upstart’s Post

💪 Seeking Guidance & Insights from My Network! At DayCon, we're dedicated to transforming parents into child-rearing experts. Our journey so far has been inspiring, marked by significant achievements: 🌟 Through rigorous testing and interviews, we've honed in on promising ideas. 🌟 Our app, characterized by its exceptional quality, keeps pace with our delivery schedule. 🌟 Internally, we've established a solid foundation with a high-quality codebase, comprehensive alert and monitoring systems, and adherence to engineering best practices, setting the stage for rapid scaling. 🌟 We have the secret sauce to process information and make it best suited to the question-answering task, it is only a matter of time to bring up our chatbot to be an exceptional resource. 🌟 Achieved a conversion rate of ~17% from clicks to installs and 90% from installs to opens, underscoring the demand for our solution. 🌟 We're enhancing our chatbot's quality, we know that once our chatbot has enough knowledge to provide exceptional answers that our users can't find by browsing the internet or asking their closed ones. Users will be hooked. 🌟 We are working on more features to bring network effect into DayCon and those will be the keys to scaling our product. 🌟 Moreover, we're building a US version of the app, addressing the universal challenges faced by American parents in accessing reliable parenting advice. We believe the U.S. is where we can bring in significant revenue. ❗️Despite our lean team's potential to achieve breakeven in 4.5 months, DayCon's current runway is 3 months, compelling me to consider several funding options: 🤔 Seeking angel investors for a maximum of 10% equity. 🤔 Continue my personal investment via property sale (though current market conditions are challenging). 🤔 Pursuing a well-compensated remote job to sustain DayCon's growth part-time. 🤔 Exploring bank loans, a path unfamiliar and somewhat daunting to me. 🤔 Initiating discussions for VC funding, although our early stage may not yet be attractive to VCs. 🤔 Considering accelerator programs like Antler, despite timing concerns with our financial runway. 🧠 I'm at a crossroads and welcome any advice, insights, or personal experiences you can share. How would you navigate this situation? Also, if you are an investor and find that what we are building resonates with you, please connect with us. ❤️

Being an entrepreneur isn't just about launching a business; it's about a journey of intense practical learning and in my experience a masterclass in business finance. I think about how starting and finishing a business (yes, finishing, because sometimes that's where the real growth lies) is like earning a PhD in the school of hard knocks. You can read all the textbooks and attend all the lectures, but nothing beats this kind of hands-on experience. It's the ultimate crash course, where every setback is a lesson and every success a validation. You learn to truly understand budgeting, cash flow management, and risk assessment like a seasoned pro. When you've tasted defeat, you savor victory all the more, and the lessons learned stick with you like super glue. But even more important is recognising when something isn't working and having the maturity to pivot to a new concept. It's about letting go of the familiar and embracing the unknown, trusting in your instincts and your ability to adapt. And guess what? This mindset isn't just confined to the boardroom; it spills over into every aspect of life, from personal relationships to career choices. Because in the end, it's all part of the same journey about learning what works and being happy!

We Tried, It Didn’t Work Out…but that’s OK: Closing OnLadder Samuel and I have made the difficult decision to close OnLadder. In the beginning, we were (still are) first time buyers. The idea of solving a problem we experienced and help others from our generation drove us. Years of hard work got us to a point in the first half of 2023 where we had our initial partners in place, but with inflation climbing, and the base rate soaring, we stalled. With capital drying up, raising the necessary equity to meet regulator requirements became prohibitive. We were stuck. We tried pivoting, but we were always brought back to the same place. Closure, though heart-wrenching, was the only option. Throughout this journey there were many learnings, but my biggest are: Interest Rate Exposure: For a young company, debt exposure in a volatile environment can deter investors, showing the need for a model that is resilient to such fluctuations. Letting Go: I am a driven person and relish pushing boundaries to problem solve to make an impact. I also want to make good on the faith our investors placed in us, but this same trait led me to holding on too long. I needed several people to convince me that this was the right decision, and my mental health took a hit. At a certain point, it is no longer selfish to do what is right for you. There are many who helped us along the way, but a few I’d recognise: Sam for being the best co-founder I could ask for. Paul Rippon for being a steadfast investor and ally. I'm so grateful for your ongoing support. Richard Tugwell for the countless hours spent advising us. Jackie Bennett OBE for your insane expertise and willingness to connect us with your network. Mark Prisk FRICS for being our first advisor and a fountain knowledge on housing and business. My family and partner for supporting and believing in me. I'm privileged to have worked with and learned from so many supremely talented people. Thoughts on closing: I was nervous about closing OnLadder. It's not what anyone wants, but it's also not the end of the world. I was also nervous to share this as so few people do. To other founders closing quietly: don't. The culture in the UK doesn’t encourage this. 99% of startups fail, and you still went ahead and tried. Celebrate that, and then take your learnings to your next role. Startup founders are resilient, go getters and optimists, we should take pride in that. What’s Next: While it's the end of OnLadder, it is the beginning of something else. I intend to take the learnings and apply them to what I build next. In the short term, I'm open to part-time contracting or advisory roles. I’m looking to expand my fractional CFO services, but I have a broad skillset that can assist in many parts of a business. In the long term, I am undeterred in my resolve to make an impact in the first-time buyer space. Reach out to me if you want to learn about what I’m working on 😉. #startups #entrepreneurship

Co-Founder Week 4: You Need a Support System At 5:30 PM on my last day of W2 employment, I wrapped up a final few emails, said a couple last goodbyes and closed my laptop. Then, I sat and stared at two blank monitors for a few moments. “What am I doing?” I thought. “I can’t start a company. Most startups fail. The numbers don’t lie. What makes me think I’ve got what it takes to beat those odds? This isn’t going to work…” The thoughts rolled around in head for a few minutes. My mood sunk. I second guessed myself. Instead of being excited, I was scared. I stood up, walked away from my desk, and went downstairs to be with my family for the evening. As I reached the bottom of the stairs, my wife greeted me with a big smile and excitedly shouted at me, “You made it! You took the first step! You’re starting your own business! I’m so proud of you! To celebrate, I got you a surprise!” Out of the closet, she pulled out a custom silk-screened Masset T-Shirt. “This is for you. The kids and I all got these to let you know we support you.” She told me that she believed in me, and that she backed me. “No matter what happens, we’ll make it work.” Later that evening, family and friends came over to celebrate starting my new adventure. They all wore new Masset shirts too. The change in me was profound. My confidence jumped. I could do this. It would all work out. And if it didn’t, that was totally okay too. At this point in the startup community, the advice around having support systems is cliche and, honestly, maybe even a bit trite. I won’t bother adding to it, but I will reenforce it. If you’re going to start a business, find a way to have a support system in place. Something that will help you on bad days and celebrate your good days. It’s not about safety nets, it’s often simple enough just to be reminded that people are rooting for you. Support can come from a number of places. For some, it’s family. For others, friends are their lifeline. On the business side of things, Co-Founders are recommended for a reason. And your investors believed in you enough to put finances on the line. Need more? Local or religious (if you’re into that) communities abound. For me, it is a combination of all of the above. These supporters are the true unsung heroes of the startup world. Without their backing, I truly believe the stats on startup failures would be even more staggering. I’ve worn that Masset shirt a few times in the last month. But I think I’m going to stop soon. A little wear and tear is fine, but I want it preserved. Ten years down the road, when Masset is wildly successful, I want it framed on my wall. Hopefully it will remind me of who got me there. Who knows what future Tyler will have learned, but I hope he will remember what that shirt stands for. If he is anywhere, it’s because the village around him got him there.

Igniting Entrepreneurial Spirits: A Motivation for 2024 During the December furlough period, I found myself contemplating financial independence. Although I'm still figuring out the exact path, I've decided to share my journey through writing and invite you all along. Self-motivation is the catalyst for innovation and financial freedom. Cultivating the right mindset and aligning with visionaries who inspire growth can set the stage for our entrepreneurial endeavors. As we venture into personal initiatives, let's focus on turning thoughts into action, nurturing ideas, and building a supportive network that propels our progress. Above all, believe in yourself and give it your best. Every step toward our ventures is an investment in our future, an opportunity to learn from challenges, and a chance to forge our own paths to success. Let's unite in this journey for 2024, empowering each other to achieve new heights of success and financial empowerment. It's about sharing ideas, collaborating, trusting, and, of course, taking that leap of faith together.

This is something everyone should have a foundation of understanding. Even as a W-2 employee, owning a 1099 will still give you the opportunity for write-offs. Would you trade $63 for $4000?! The time to invest in yourself is now! Comment “info” or DM me when you’re ready to start #FinancialFreedom #InvestInYourself #TaxBenefits #SideHustle #EntrepreneurLife #PassiveIncome #1099Life #WealthBuilding #FinancialLiteracy #BeYourOwnBoss #IncomeOpportunity #InvestSmart #W2to1099 #WriteOffs #StartToday #BusinessOpportunity #MoneyMatters #FinancialGrowth #InvestmentOpportunity #SelfInvestment #TakeControl #FinanceTips #MaximizeIncome #Primerica #JoinOurTeam

Community is Power! A community is a group of people sharing a common goal. A community is about sharing the unique paths each of us takes on our journey to achieve that goal. Every startup, project, and company goes through many stages: Going from idea to execution,  Is about a developer, and their investor.  About visions, and about pivots,  About bootstrapping, and about exits,  About deploying, and about rollbacks, About hiring, and about firing,  About software, and about its people. And our community came together as one, to share, learn, and grow. Because there is so much more we can do with technology. And there is nothing we can’t achieve together. Thanks to Joseph Hoffman for making this happen! Your longstanding vision of technology, years before it was understood, is a testament to what we all can achieve. Shoutout to our great panel of experts, Sholom Rubin, Max Hauer, and Nachman Lieser, for generously sharing your personal experiences! Thanks, everyone, for making this such a success. 🙏 Until next time, Let’s innovate together!

P R E M B L Y x N A T I V E T E A MS 🤝 … We’re excited to announce our partnership with Native Teams. Startups in our ecosystem can now easily expand into new global markets or work for different clients with full legal, tax, payments, and admin support without the need to open a new business entity- at a discounted rate. To get started with our perks program, sign up via; account.prembly.com, and complete your registration; upon approval, you’ll be provided with information on all available perks and discounts! If you're an existing customer, navigate to the "perks and discounts" tab on your dashboard. #Prembly #PoweringGreatness #nativeteams #PremblyStartupCommunity

Labor Day is a U.S. holiday celebrated on the first Monday in September. It honors the contributions and achievements of American workers and the labor movement. The holiday was created in the late 19th century as workers sought better wages, working conditions, and hours. It also marks the unofficial end of summer. It serves as both a recognition of the labor force's role and a day of rest for workers. And yet, most entrepreneurs I know will be working today. Hustling is a better word for it. Because for people who dare to chase their dreams (or maybe just really want to pay their bills on time) the hustle is ongoing. If you’re an entrepreneur who happens to be a coder or application developer working to bring your idea to market - maybe as a side hustle to your day job? I’ve got something for you. The upcoming masterclass series and 2-month long MVP Buildinf Course at the Structured Cyber SSF (Sound Software Foundations) Center is designed to #accelerate your #appdev journey, while helping you solidify the functional foundations of your product. You don’t want all that labor to go to waste, by making a product that might end up less marketable than you had planned, do you? Come join us on Sept 5th for a free webinar that explains what you might not know you don’t know yet. https://lnkd.in/g867hYVa #AppDevelopmentSuccess #TechInnovation #LaborDay2024 #EntrepreneurLife #Profitability #BusinessGrowth #Startups #TechEntrepreneurs #CodeToProfit #BuildAndScale #DevelopersCommunity #WorkforceInnovation #HolidayHustle #SuccessMindset #LaborOfLove

The day in the life of founders with their start-up. (Unless they do this) Look, running a start-up is hard. You get up at 5:30, hoping to get a head start on the day. It's not because you are a morning person. It's because starting at 9 am, you'll be in constant meetings and fires, and nothing will happen if you don't get some work done before then. At 8:55 a.m., two team members will DM you that they are not feeling well and need the day off. At 9 a.m., you'll join your first sales call to spend 10 minutes realizing it's a no-show. At 10 a.m., you'll get a message from a client telling you they need to "pause" ASAP due to some emergency. At 10:30 a.m., you'll start drawing up a new contract and SOW for a big opportunity, only to be interrupted by seven silly questions you covered seven times in 1:1 and provided them clear SOPs. At 11:45 a.m., your spouse texts you that your 5-year-old isn't feeling well and will be coming home, but they can't watch them because they have a dentist appointment. At noon, you end up in another sales call. It is going well, so you ask for the sale. Then they tell you they are not ready to do anything until the fall because it's summer, and they want to enjoy that time. At 1 p.m., you try to get back to that contact and SOW but get the idea that it is better to review your P/L because you get the hidden feeling that you will run out of money soon. The kid is home now, so you turn a movie on and tell them to rest, but your 5-year-old, who is sick, wants to play house. You can't because you have three back-to-back 1:1s with team members about their careers at your company. You do that 1:1's (badly) because your kid constantly distracts you. Your team thinks you are an idiot and don't care about them. It's now 4:30 p.m., and your spouse is back, so tell them I need to work late tonight because you could not get anything done. You begin your work, but your best employee slacks you, asking for 15 minutes. It's 4:45 p.m., and you jump on the call with your top employee; they tell you they are quitting. It's 5 p.m., and you have got to start your day and dig into your to-do list, which consists of: 1) finish proposals, contract, and SOW 2) reply to 10 emails 3) send follow-up emails to prospects 4) get ready for tomorrow's meetings 5) create some founder-led content so you can stay-top-of-mind By the time you are done, it's 9 p.m., and you are 'hangry' because you haven't eaten yet. So scarf down a dinner of potato chips and wash it down with 4 beers. You crawl into bed by 10 p.m., exhausted. This is MOST of my client's lives. I can't help with most of it. But I can help with the to-do list # 5. I help them create all their founder-led content from a single 1-hour interview. This gives them about 20 hours back per month. This leverage helps them get ahead of the fires. Want help with founder-led content? Learn more -> Demandii.com