Getting your house in order

As you'll be aware from the last post, I just graduated from university (*applause*). Six years of being told where to go and what to do has highlighted how important self motivation is going to be over the coming weeks and months. 

The working week is mine to dictate. Which although incredibly liberating could spell disaster if I decide to sleep in, watch TV and go to the gym all the time. Obviously thats not the case and I'm actually getting up at 5:30am everyday and working on STAMP for a solid 18 hours (more or less). 

Stories of 'founders before they were successful' aside (you know, the ones who lived off ramen noodles in a squat with only a laptop and plug socket to sustain their creative vision before making it big), theres been a bunch of boring stuff to see to prior to STAMP going live...

Im talking Companies House, bank accounts and lawyers. First up, apparently its quite important to form a proper limited company, make people directors and divvy up some shareholdings to those involved (there were some awkward conversations). Obviously the hardest part however is deciding what to call this company. Some inconsiderate person decided to steal STAMP LTD from us back in 1987 so we had to think more creatively about that one. 

If you want some way of paying for stuff or receiving payments through the company, its probably not a good idea to use your overdrawn current account. Fortunately every high street bank is offering some sort of 'start-up' bank account with between 12-18 months of free banking. Be sensible and trawl through their T&Cs to find out who offers the best rates. Or do what I did and apply to the one with the easiest looking application. 

Get some lawyers involved. You never know, that sneaky developer you paid to do some UI/UX work might turn around and nab your intellectual property. Slap them with an IP assignment document though (or use an reputable site such as UpWork), and you can sleep soundly knowing someone in Belarus isn't coding 'YourApp' V2.0. Sure, lawyers don't come cheap but if you're planning to do that ever elusive VC round in the (near) future, they're gonna want to see that you've run a tight ship and protected your assets. 

Theres three of the main things I could think of. Maybe i'll blog about accounting software or trademarking in the near future. On second thoughts that sounds boring as f*ck. 

Till next time

S x

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