First time founder- Need help

dan78

New member
Hi I’m a first time founder building a mental health platform, bootstrapped. My mother a cofounder is from psychology background and I am from finance background. We outsourced tech like building website, the algorithm etc and we are struggling. She now wants to opt out from the business because she has other priorities. Wanted suggestions on the below:
  1. Should I shut down the business and take a job?
  2. How do I find a tech co-founder?
  3. Is there a way I can find a mentor?
  4. I don’t think I’m a good leader - how can I get better?
  5. Any low cost marketing strategies?
  6. How long do I have to be patient till I see real money flowing in as it’s a platform business?
  7. Should I consider raising funds?
I was previously working in a corporate job and when I would not get credit for my work I would feel bad, today when the business is not working the feeling of losing confidence is even worse. Any guidance would be helpful!

Thank you!
 
@dan78 Talk to as many people who are starting off as possible. I was in a high flying job and quit 6 months back to start my own. I have been through all that you have mentioned here and at some level still going through. Please DM me and i would be more than happy to talk to you and give some perspective that I have gained in the last few months.
 
@dan78 I am a recent btech in computer science graduate,having 6 years + experience in tech and building businesses online... currently working on my own startup...

I think I could help you out ...I would like to know if we can arrange a discovery call...in any case using gmeet for 15 mins
  1. Businesses take time atleast 3-5 years
  2. Tech has never been easy
  3. You should not giveup untill you have boosted all your cylinders
 
@dan78 Mental health is not a very nice business to be in. The growth is very very less as compared to other industries.I run a mental health business named Remint Health, and i would love to connect with you coz i have been looking for a non tech cofounder. Dmed you as well.
 
@caldwelljr Alcohol addiction treatment through Medication assisted treatment and therapy if required. I have also started developing AI based solutions to help other mental health practitioners, Rehab centers with marketing, counseling, operations served through Generative AI interface.
 
@dogash Ohh that's cool, if u have an internship opportunity for a data science student plz let me know lol, I don't have much knowledge and experience but I sure would like to dive into and learn.
 
@dan78 My feedback would be to really see if you got a product market fit first i.e. are you clear about the problem you are aiming to solve. Finally, regarding marketing do anything even calling or talking to people to get 100 customers… once you are clear on what customers are find value and what type of customers, you can take it forward…
 
@dan78 First of all, you need to talk to your true well wishers to understand how good your idea is. anyone else would sugarcoat things ir try to boost you for their gains.

I see some comments here seeking to be your next co-founder, no offense to them but you should be very careful picking one.

I have seen cases where peeps boost the ego of the ideator to get more work/money to just run in loops and engage in the project for years.

if they truly care about your product, prolly pay them in equity and not in cash.

Now coming to your questions .
  1. That's a totally personal call, if I were you, I'd have evaluated my financial cushion from family, family dynamics, my personal savings, affect of gaps in my resume for jobs in my domain, my conviction on my idea, product market fit,sunken cost evaluation, etc.
  2. There are many incubators that do co-founder matching, you can talk about it on forums like this sub etc. But you have to and must properly vet them and be ware of the things I mentioned up top.
  3. Incubators do that too!
  4. Reqd good books, and lots of them, of the top of my head, The lean startup, Start with Why, Leaders eat last, 7 Habits of Highly Effective People, True North, etc.
5.Word of mouth is the most authentic cheapest marketing strategy that works like a wonder. Let you work speak for you. Extreme examples are Zerodha, Wint. Subtler examples include Tilt. You would hardly see any of their ads, but damn they are good products and are well known just Outta word of mouth. And just coz they don't advertise, people trust it even more.
  1. You need to lay out a plan, hiw can anyone tell this?
  2. Dancing with investors is a risky errand.if You're driven towards your idea and are crystal clear on what you want to build, don't give out decisive power to others who are less sure about the domain and idea.
 
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