Start Up Midterm GPT

Working Prototype

Initial Capital

Field-Testable Version

Paying Customer

Cash-Flow Breakeven

Guy’s 5 topics

Business structure

Fed EIN

Licenses and Registration

Taxes

What to do legally to start a business

When you have a proof of concept and a person saying they are willing to buy the product

When to incorporate?

Easier to set up and manage.

Suitable for smaller businesses or those just starting.

Offers limited liability.

LLC Advantages

Familiar to investors.

Easier to sell or take public.

Capable of offering financial incentives to employees.

C-Corp Advantages

Board meetings

Proper records

Reports and licenses

Ensuring an LLC or C-Corp is Legit

Simpler

Pass-through taxation

Advantage of an LLC over a C-Corp

More familiar with investors

Can go public

Stock options

Advantage of an C-Corp over an LLC

Double Taxation

Complex Setup and Management

Ongoing Compliance

Disadvantages of a C-Corp

Not as attractive to investors

Conversion costs

Can’t offer stock as easily

Disadvantages of an LLC

Similar passion

Willingness to sacrifice

Enjoy working together

Common vision on growth

Difference in expertise

Criteria for co-founder

to ensure that no one leaves early with a substantial percentage of the company

Why vest stock?

Advisors

individuals you can reach out to occasionally for specific advice about their area of expertise.

Drive sales

Avoid pitfalls

Two reasons why a CEO would be brought in

Validated Learning

Getting feedback from potential customers after creating or improving a prototype (MVP)

Headline

Relevant Image

Lead form

CTA

Copy and description

Landing Page Structure

Simplify

MeToo

Virtualize

Remix

Disrupt an Industry

Extend a Current Solution

Mission Almost Impossible

Types of Business Ideas