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Sumit Kumar Profile picture
Sumit Kumar
@TweetsOfSumit
Founder 📈 @parqetapp Host of 🎙 @minimalempires Prev. @stripe
2 subscribers
Jun 10 • 14 tweets • 3 min read
All the startups Apple killed today 🧵

#WWDC Grammarly
Nov 4, 2022 • 13 tweets • 3 min read
😵 99% of corporate startups fail to return any kind of value.

Imho, these initiatives are great but have some crucial mistakes.
Here's my take on why that is based on my personal experience working on both sides of these startups.

👇🧵 1.
They put managers from the parent corp in to lead this thing.
Same old mindset, procedures and strategy.
How can you expect a new outcome without new people at the top?
For these managers, the "startup" is a career step.
100% different than the founders who disrupt them.
Jun 27, 2022 • 7 tweets • 2 min read
Parqet went from 0 to 10k MAU in the first year.

And from 0€ to 10k MRR within 12 months of introducing a paid plan.

Here's how I acquired the first users and customers 👇 I wanted a few dozen to 100 users to try my portfolio tracking app and give me feedback.
(with a slight hope to get regular users).

I had no money to buy ads.

I had no network or influencer friends to promote it.

4 little but important things helped me get started.
Jan 13, 2022 • 11 tweets • 3 min read
In 2018 I wanted to invest more. I cut down costs until it hurt. At that point, cutting 100€/mo is more difficult than earning 300€ more. So I started to very deliberately work on my salary.

It grew 4x since.

Here's what had the most impact 🧵👇

Image 🤝 learn to negotiate. Seriously, it's like a few books and articles + some practice and it makes you 20% to 50% more. Best ROI of all.

Jan 7, 2022 • 24 tweets • 17 min read
I'm running a company on the side while being employed at @stripe full time.
These are my top learnings balancing a side project and a full-time job 🧵 @stripe 💞 Get your partner on board. Especially if you have kids - you absolutely need support from your partner and a shared goal of what you're working towards. Side-projects are fine when you can just ignore them if time is scarce. But you can't ignore a business with employees, etc
Oct 22, 2021 • 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
Mar 29, 2021 • 11 tweets • 2 min read
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
Jan 28, 2021 • 23 tweets • 4 min read
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.
Jan 21, 2021 • 12 tweets • 4 min read
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.
Jan 8, 2019 • 12 tweets • 3 min read
😱😱 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.
Jul 18, 2018 • 5 tweets • 2 min read
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.