Useful Resources for Startups - Templates, Charts, Data & Other Info

Here are some helpful links for startups and growth companies, including contract templates for granting equity to early stage advisors and investors, useful data and information (charts, tables, etc.), lists of startup mistakes to avoid, and lists of biggest startup surprises, and other handy resources.

Index of what you'll find below:

• Useful Contract Templates for Startups
• Useful Data & Statistics about Startups
• List of Funding Sources for Startups
• Legal Services & Content for Startups
• Other Useful Articles and Content for Startups (Y Combinator resources, 35 step guide to starting a business, why startups fail, biggest startup surprises, etc.)
• Other Basic Startup Advice (where to get online terms, how to create an LLC, etc.)

Useful Contract Templates:

The Founder / Advisor Standard Template ("FAST") was developed by the Founder Institute to help aspiring startup entrepreneurs onboard advisors in exchange for promises of future equity. ?This is ideal for part time strategic advisors. (Be sure to also check out their "Resources" page.) ?https://fi.co/fast

Simple Agreements for Future Equity ("SAFEs"), are flexible agreements providing future equity rights without immediate valuation. SAFEs are commonly used for early-stage startup funding. Conversion terms are triggered by specific events like equity funding rounds or acquisitions. Here's where to find them. This is ideal for early investors. It's not equity and it's not debt - it's a promise of future equity. (Y Combinator also has many other resources on their website.) ?https://www.ycombinator.com/documents

National Venture Capital Association (NVCA) Model Legal Documents serve as the industry-embraced model documents to be used in venture capital financings. https://nvca.org/model-legal-documents/

Terms of Service (TOS) and Privacy Policies - Every single website or app needs these policies. Here's why, and where to get them cost effectively. [Editor's note: The author owns this site] https://eztos.com/blog/does-my-website-need-a-privacy-policy-and-terms-of-use-yes-heres-why/

Useful Data & Statistics About Startups (Carta):

Carta is a terrific resource for startups. Here's their blog, searchable by topic. But they also have sample documents and cap tables, learning areas, terrific data and charts, etc. Check their site out: ?https://carta.com/blog/?

List of Funding Sources for Startups:?

This article does a great job summarizing the various ways to get funding, from lists of common government grants and loans for startups, to lists of private VC firms, incubators and corporate startup funds, crowdfunding platforms, and so on. It even includes some tips on how to optimize your pitch: https://www.dhirubhai.net/pulse/top-funding-opportunities-tech-startups-usa-jehanzeb-sultan-vzfvf/

Legal Services & Content for Startups:

If you're a startup or growth company, you want a law firm where all the partners have practical, in-house, business experience, and know how to spent the right amount of time on the right things. You want quality legal services while still being affordable and efficient. In short, you need Outside GC ( OGC ). www.OutsideGC.com [Full disclosure: I am a partner at Outside GC]

If you need online terms and conditions for a mobile app and/or for any website (Terms of Service (also known as TOS) and/or a Privacy Policy) check out EZTOS.com [full disclosure, I own it]: www.EZTOS.com

For layman's advice on how to review and negotiate a wide variety of agreements and clauses (SaaS, NDAs, DPAs, Advertising IOs, Data Licenses, Indemnity & Limitation on Liability, etc.), see my A to Z list of contract playbooks, cheatsheets, checklists and tips, found here: www.dhirubhai.net/pulse/how-draft-review-various-types-contracts-clauses-from-brian-heller-dz5lc/

Other Useful Articles & Content:?

o Y Combinator Startup Playbook by Sam Altman. https://www.dhirubhai.net/posts/edrizio-de-la-cruz-2b8ab75_how-to-get-into-ycombinator-activity-7204893218369355776-_qku

o Marc Andreessen’s All-in-One Guide for Founders (old but still relevant today) https://www.dhirubhai.net/posts/fazlurshah_marc-andressens-guide-for-startup-founders-activity-7245310589516824577-jaaN

o Forbes’ Complete 35-Step Guide For Entrepreneurs Starting A Business:https://www.forbes.com/sites/allbusiness/2018/07/15/35-step-guide-entrepreneurs-starting-a-business/

o Fundable's Startup Guide:?https://www.fundable.com/learn/resources/guides/startup

o Business News Daily – 20 Mistakes to Avoid When?Starting a Business:?https://www.businessnewsdaily.com/7398-startup-mistakes-to-avoid.html

o 17 Biggest Surprises When You Founded Your Company:?https://www.brettjfox.com/what-are-the-17-biggest-surprises-when-you-founded-your-company/

o Why do startups fail?:? https://www.quora.com/Why-do-so-many-startups-fail

o 4 Key Steps for First-Time Founders When Starting a Business www.dhirubhai.net/pulse/4-key-steps-first-time-founders-when-starting-business-henrik-scheel-gnroc/

o More:?

www.dhirubhai.net/posts/kevinjurovich_startups-venturecapital-activity-7246901704636440576--xSb

https://www.dhirubhai.net/posts/edrizio-de-la-cruz_productivity-venturecapital-entrepreneurship-activity-7247651976379793409-YPaP

Bonus:

SaaStr Insider on LinkedIn is a relative newcomer, but has some great articles. Here's one where they aggregated some of their top learnings from some of Y Combinator's top startup execs: https://www.dhirubhai.net/pulse/top-learnings-from-15-ceos-ycombinators-companies-jason-m-lemkin-kl4ec/

--

Really Basic Advice for very small startups (in a garage, 1-2 founders, haven't even formed an entity yet) - why you want an entity, how to form one, etc.

·??Every Startup (or website or app), Should Start with a Company, not an Individual. Why? (1) Protects you from liability, (2) adds legitimacy, (3) cheap & easy:

o?? I usually recommend an LLC (limited liability company) - Unless & until you have serious VC investors, in which case you’ll want to convert your LLC to a C-corporation; you can always convert later)

o?? It only costs a few hundred dollars, and they’re easy to maintain

o?? Here’s an article explaining why: https://howtostartanllc.com/form-an-llc/should-i-start-an-llc-for-my-business

?

·?Where/How to form an LLC inexpensively:

o?? You’ll need a company name, pick a state in which to file (Delaware, NY, or your home state) and you need to file papers and pay a fee (~$50-200). Fees by state: https://www.llcuniversity.com/llc-filing-fees-by-state/

o?? You don’t need a lawyer; a paralegal can do it. Many online services can do this for about $100-200. I recommend www.MyCorporation.com (or LegalZoom, ZenBusiness, IncFile, etc.)

?

·?What’s an LLC Operating Agreement & Why Do You Need One:

o?? Every LLC is required to have an “Operating Agreement”; This is the agreement between and among all the owners of an LLC.

o?? If there is only one owner, you don’t need to worry about what it says;

o?? If there are 2 or more owners, founders, partners, or investors, then you need a better one than what the online service provides (the online service will give you only a generic 1 pager).

o?? Here’s a blog post I wrote about what questions all owners should discuss at the beginning (write down the answers, and sign the paper, as an exhibit to your Operating Agreement). https://contractlawbynumbers.com/f/8-issues-to-consider-for-your-llc-operating-agreement?

?

·?Terms of Service and Privacy Policy for Websites & Apps. Every single website or app should have both (1) a Privacy Policy and (2) a Terms of Service (also called a TOS, or called a Terms of Use or TOU)

o?? Here’s why (my post) https://contractlawbynumbers.com/f/8-reasons-your-app-or-website-needs-terms-of-use-privacy-policy ?

o?? Here’s where/how to get them. This is my website – EZ TOS: https://eztos.com [Editor's note: The author owns this site]

?

---

About the Author:

Brian Heller has over 20 years of experience as a lawyer and business development executive in both in-house and private practice roles. Brian regularly negotiates and drafts a wide variety of agreements related to SaaS/PaaS, licensing, digital & social media & advertising (insertion orders, social media influencer campaigns, content production & licensing, ad network and ad platform deals (DSP, SSP, DMP, CDP), ad-tech, streaming (IPTV, OTT), etc.), fin-tech / crypto currencies, cloud services and mobile apps, virtual reality and artificial intelligence, renewable energy, terms of use / terms of service, privacy policies, data processing agreements (DPAs), marketing, distribution and other technology agreements. You can find him on Twitter @briheller.

Brian is originally from Shaker Heights, Ohio (near Cleveland), and has lived in Michigan, Boston, New York City and Washington, DC. He now lives in Vienna, Virginia with his wife, Stacey (who is also a lawyer for Outside GC) and their two kids (in school at UVA and MIT). He spends his free time serving as an advisor to several startups, ventures and non-profits.

https://www.outsidegc.com/attorney/brian-heller