Finding a honest partner.

[Casper]

Hello!

I have been talking to a web developer who wants me to partner with him on a new website. Either a 50/50 split or I can start out with 25%.

I have checked him out on linked in and such. But how do I really know that he is on the up and up. How do I know that he is not just a scammer who puts up fake info? I guess I could always pay a privet eye to check him out, but that's kinda starting the partnership on a sour note.

It all started with him selling a website that I wanted to buy, but it already sold and since then we have been talking about partnering up on his new project.

I would love to earn some extra income this way, but at the same time I would hate to be scammed out of my hard earned cash.

How did you do it?

 

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[The Wall]

Ask yourself this, what do you both bring to the table in terms of value?

It sounds like he has the technical side nailed so that leaves you, what do you bring of value?

If it's just cash, you may want to reevaluate the partnership

 

[Tiago]

Don't do it. Please for the love of god don't do it.

You don't know this person, things get very different as soon as there's money involved.

If you don't know the person for at least a few years and have worked with her, pass it. You're talking about not being sure if you can trust him, paying a detective to keep an eye on him and you want to start a business with him?

Do you absolutely have to go on a partnership with him? Is the domain name so important that you can't do it otherwise?

Think of ways to get around it.

 

[EdKirby]

I completely agree with @Tiago. I'm sour on partnerships after I saw what happened to my dad when his partner screwed him out of his business, but that's a story for another thread, and in reality it was my dad's fault by being too trusting.

Whatever you do, do not, I repeat do not do anything with anyone without a well written (i.e. pay a lawyer who works for YOU) agreement. And if possible don't give up control. Ideas are a dime a dozen. Can you do what he's doing only hire out the tech? Think outside the box.

 

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[loop101]

You may find someone who would never screw you, but that doesn't doesn't mean the other people in their life wont.

A friend had a verbal agreement with a guy, they worked for several years on a project. His wife suspected him of cheating on her, and she blamed my friend for corrupting him (when in fact the maid she hired hooked him up). When the business became a real business, my friend was "banished", and replaced by the wife. They made $20M over the next few years. Never give up Control of your own fate.

 

[Ninjakid]

Make people sign contracts. Never take their word for anything just because they seem like a nice person or you will learn a very hard lesson.

But just right off the bat, how great of idea do you think it is to partner up with someone you don't know anything about?

 

[wade1mil]

Use your cash to hire someone to build it for you and give him 0% of the profits.

 

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