Unless this has been going on for months on end, you can let the company know you will be delayed on that payment.
Apply for a business credit card, pay your 7K bill and pay it to the bank/credit card in monthly installments over the course of a year, it should amount to roughly 700$ after interests.
Meanwhile focus 2024 on increasing revenue by a shitload.
Good luck.
1- Cheap calories
2- easy and quick consumption
3- Clean water/hydration
4- good taste
It has its cons for sure, but there’s those 4 distinct advantages that make it a reasonable purchase in some situations.
The existing code is already there, it won’t go anywhere.
The servers and the pricing however… Silicon Valley and Wall Street are known to pair up to allow companies to lose money a couple of years in the interest of gaining market share. Who knows how much chatGPT actually costs, how much the free version will be castrated and how much the paid version prices will hike.
- What should my business be about? It should relate personally to you as a founder, so that you have an advantage, so that you don’t quit, and so that if we all follow this rule, we will cover a wide share of the industry instead of cannibalize each other.
- What should I name my business? If you can’t think of a name, go with the old and tested: INITIALS INDUSTRY LOCATION LLC. e.g: JD Plumbing Miami LLC
- How do I get clients? Ask your contacts if they know anyone who would be interested. Or get a list of contacts and start calling. Or pay for advertising in any platform, preferably Google Search.
- How do I incorporate? In the US, check the website of your State Department for instructions. OR consult with a commercial lawyer OR consult with an accountant OR hire a Registered Agent OR hire a business formation company.
- How do we split ownership? If 2 founders, one can provide funds, the other work, 50/50. Otherwise split based on amount of capital contributed, if a mix of capital investment and work, assign an hourly or monthly value to the work.
All of these are achievable in a week. Especially if you think of it as just your first company.
Yes, it depends on where the company is registered, most big companies are even registered in different states.
Check the terms of conditions which define the entity you signed the contract with and its definition.
Then find out what jurisdiction that is, and find out what municpality it is and what courts correspond to their registered address. Usually these companies are setup in California, in Silicon Valley or nearby. Sometimes they can be in Delaware if they are more shady.
Then check out the website for the court that is in charge of that district, check if they have any teleconferencing options and what its costs are.
Its worth it to send an invoice and intimidation through mail to their registered address, both to see if they pay before court, and to use as evidence in case they don’t pay.
It might pay off to speak about the specific industry and hope someone is knowledgeable in the industry rather than speak in metaphors and hope we can guess what the right move is.
Find someone with an idea, let’s call them a client, and then build their vision in exchange for cash.
There you go, now you have a company.
There’s small claims court, but probably just sending them an invoice and then a small claims court threat to their Registered Address will get you paid.
What works for me is I unplug the internet and magically I start working.
Give up. In six months you could have started your business gotten your first client and developed your business.
You still don’t even have a business idea? Give up, it’s not for you, maybe in the future you will have the experience nececssary and you can try again.
Solutions is such a snake oil salesman term, especially in the context of having no idea of what to sell to the extent of asking around about untapped markets.
Reminds me of the wikipedia policy that emerged to ban businesses that advertise 'solutions: https://en.wikipedia.org/wiki/Wikipedia:On\_Wikipedia,\_solutions\_are\_mixtures\_and\_nothing\_else
net profit is not quite what we call that.
Net income = profit = Income - expenses
200$-800$.
It will probably be a lot of work so that it won’t be a very profitable project unless you make it a full time business. But that’s ok.
This is understandeable for first-times, you shouldn’t be looking to hit good hourly rates, you should either be looking to get experience so that you can deliver a better product faster next time, or treating it as a one off project while you network and experiment.
Discord-making is unlikely to command enough respect to get into the three-zeroes club anyways, additionally anyone interested in discord is probably very young, has a low budget, and not very interested on actual business. This specific boss is probably looking at you as some cheap form of labour who would be content with a couple of extra bucks for buying videogames. Discord is after all a hobby platform associated with unproductivity.
Maximize your chances of closing the deal, and use it as an escape of the unlucrative world of running discords, network with actual companies and keep an eye out for adjacent industries. Hopefully you will be able to pivot your skills onto more profitable ventures like running communities of communities with higher revenue like Linkedin, Instagram, Twitter, etc…
Source: I manage the IT aspects of some companies’ social media media campaigns, there’s no money on discord.
I’m assuming you don’t want to tell him because it’s a secret and you don’t want competition?
Tell him that? Are you looking for specific wording? Like “If I told you I’d have to kill you” or “it’s my grandma’s secret recipe”. This is such a non-issue.
Additionally if you were ever looking for an employee/internt/apprentice, it’s knocking in your face.
Go and network by all means, it’s probably best to not mention the fund and just keep your ears open.
That fund should be enough runway for a team of up to 5 people for up to 2 years. So that’s what you are getting into basically.
If you are being paid in equity it means you don’t get paid a salary, so it isn’t as great as it seems, unless you have faith you can make a profitable venture.
Hey, if you are opting for building a fully remote team, and would like to upgrade your IT infrastructure to support collaboration with employees and contractors, I can help with that.
I offer full IT management through my company OpenScreens IT .
The way it works is we evaluate the needs of your company and build a package of popular cloud services like gmail, Microsoft Office, new phone lines, Google Ads etc… and integrate it all with your existing infrastructure like your ecommerce website.
The premium package even includes physical infrastructure through leases, like laptops, phones and a separate internet connection. As well as some additional marketing features.
After the initial consulting and setup is done, we provide email and phone support Monday through Friday, 8AM to 6PM EST. No phone queues or rotating staff, you just call me directly.
You can take a rough look at the packages we offer and their pricing at openscreensit.com , if you are interested, just schedule a call or send me a PM!
Regards, Tom.
I was under the impression that agency referred to a marketing company. But yes, agency is starting to sound like a placeholder businessy business in the business industry.
Both types of work are possible.
Working exclusively remotely is definitely possible and increasingly common, after COVID we’ve seen a huge spike, but this type of companies have existed a couple of years before even.
I for example only work with clients who don’t have offices, they collaborate remotely and I provide them an office-less IT infrastructure.
That said, what’s not feasible is each founder pulling towards their side or having this disagreement be dragged out.
The question needs to be settled either way, and you need to direct the company in whichever direction, this is a pretty foundational decision, you can’t move forward with a lot of things until it’s settled. Your workflow, tools, policies, marketing strategies will be significantly different based on the decision you make.
Another point is that this is a fairly standard business discussion and definitely nothing worth getting angry about or disrupting the family about, you should be able to discuss matters like this in the same way you discuss your colour palette or what vendors to choose. This disagreement should in no way cause you to reevaluate your partnership since it will be settled one way or the other like any other kind of business decision.
If you find yourself fighting over business decisions, then work on removing emotions from the process in order to move the business forward. If you find you can’t do that, or if this is about being more in touch with family, then yes, reconsider your partnership.
Computers are much more efficient at creating, thus making money, phones are more efficient for consuming, thus spending money.
If you want to make money digitally, you have better chances of doing so from a computer.
If somebody makes money with a phone, then they are using it as a tool for another activity rather than as an activity itself.
Hooray, now suppose the costs go down from 7K yearly to 100$ yearly, what does he have left, a business that does 5k yearly?
7K server costs is fine, focus on increasing income.