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Sumit Kumar Profile picture
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22 Oct, 4 tweets, 2 min read
I get asked a lot about my legal setup. I'm no legal advisor of course but here's what I do. I own a holding company, which owns my operational projects like Parqet. One of the operational co's is like an incubator where I start new projects. Once a project reaches ~10k MRR I...
spin it out into a new company owned by the holding. The holding could also invest in other startups or even stocks - however, all my current stocks are bought privately. But with this setup, I'm prepared for the future re starting companies, investing in and/or selling them
Will talk a lot more about this stuff in my big ass video series about bootstrapping a company from 0€ to 200k€ ARR in 18 months. If you don't want to miss it, add yourself to my @revue 👇

getrevue.co/profile/noteso…
I outsource bookkeeping and accounting and the only software I use currently is @DATEV and @GetMyInvoices although our setup is quite amateur at the moment.

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More from @TweetsOfSumit

Sumit Kumar Profile picture
29 Mar
Many people around me considered my move from Head of Engineering (Manager) at SN to an individual contributor (IC) role at Stripe a "step down". I don't think it's a step down at all.

THREAD👇
First of all: I know I will learn A TON at Stripe - no matter which role. This is by far my biggest deciding factor when changing positions / companies
Next, IC vs Manager are just roles. It doesn't matter to me as long as I can have meaningful impact on fun, challenging, interesting work.
If a manager is needed and I'm a fit: happy to step in. If there's a great manager already, I will be the best teammate I can be.
Read 11 tweets
Sumit Kumar Profile picture
28 Jan
After 4 years, tomorrow is my last day at @sharenowTech - here are the learnings of that time that stay with me for years to come.

Thread 👇
Don’t just complain about the situation, do something about it. I’m much happier when I feel I’m in control.
When something sucks, I ask what I can do to fix it. Not blame people.
Climb the latter if you want bigger organizational impact. Don’t climb for money. Especially going into management is not a step up but to the side. Make sure to know why, because losing a good IC for a bad manager is the worst for everyone.
Read 23 tweets
Sumit Kumar Profile picture
21 Jan
I just finished Zero to Sold by @arvidkahl - here's what I got out of it for me personally, to apply on my efforts to build tresor.one 👇
👉 Product to Business
I'm somewhere between Survival and Stability stage. I should (and do) focus on building a business around the product. Pumping out features alone will not make T1 sustainable. There is much more around it and I feel the pain of not focusing on it earlier.
👉 2020 went well
I think I did an OK job last year to build, validate and grow the project. It was validated when the first customer entered their credit card details, and it continued from there.
From 42€ payout, to >8000€ in 9 months.
Read 12 tweets
Sumit Kumar Profile picture
8 Jan 19
😱😱 WOW... get this:
A friend went to his HR department today asking why he did not receive salary since two months. HR had to check and apparently, they got hit by fraudsters in the most insane way. You should read this as a warning 👇
It all started with a friend searching for an apartment on german website @Immobilienscout. To verify his identity and income he had to upload his ID and the last two income reports from his employer - standard practice in german apartment hunting.
Thinking this data is only shared with serious apartment offers or not at all was something that he (and I until now) considered obvious. But *someone* now had his ID, bank account data, salary, employer name, employee number and signature. So...
Read 12 tweets
Sumit Kumar Profile picture
18 Jul 18
the new leaflet.pm demo leafletpm.now.sh is the first MVP for a new side-project of mine: Geoman.
First feature: export your drawn layers as GeoJSON ✅
Next one will be an Import feature 🤘
With that, you can add your geo data, transform it and export it again.
If people see a use in it I will add more features like managing meta data, storing the data in a DB, accessing it via an API, geo-queries, etc, etc.
Not sure if there is a need for this - that's why I'm doing a minimal MVP now to validate that need of developers or businesses.
Read 5 tweets

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