Hello All,
I'm a web designer/developer, and have been helping a colleague with his new startup business. It will be a simple website builder, targeted to a few niche industries, and will be a monthly subscription service. My colleague can be considered the 'founder' of the service, and I at first jumped on and started helping as a designer, but lately have been making more strategy and marketing decisions.
We're at the point where it's time to write contracts and he has alluded to giving me 20% of sales of this product, plus also giving me 5% equity in the company, which can grow the longer I stay with him/the company. Does this sound like a good deal? I'm not sinking too much of my time into it yet, but if the product launches and does well, it will become more of a full time commitment. Some of you seem to have some web and similar industry experience, so I'm wondering if this sends up any red flags in your opinion, or of there are some questions I need to be asking?
I'm a web designer/developer, and have been helping a colleague with his new startup business. It will be a simple website builder, targeted to a few niche industries, and will be a monthly subscription service. My colleague can be considered the 'founder' of the service, and I at first jumped on and started helping as a designer, but lately have been making more strategy and marketing decisions.
We're at the point where it's time to write contracts and he has alluded to giving me 20% of sales of this product, plus also giving me 5% equity in the company, which can grow the longer I stay with him/the company. Does this sound like a good deal? I'm not sinking too much of my time into it yet, but if the product launches and does well, it will become more of a full time commitment. Some of you seem to have some web and similar industry experience, so I'm wondering if this sends up any red flags in your opinion, or of there are some questions I need to be asking?
via Small-Business-Forum.net http://www.small-business-forum.net/starting-your-business/10425-am-i-getting-good-deal-partnership.html
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