lovetravelbass
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Hi Fastlaners,
So I've been making a product for the last few months (since September actually) intended to initially launch on Kickstarter. Long story short, it's gone on way longer than planned, and over the last few months, the effort was straying from 50/50; now it's at the point where I'd put it at 80/20 (80 for me).
Initially we agreed to do 50/50 profits from Kickstarter (if any), and then 50/50 equity of the company (this needs to get more thought out). There's no LLC yet though, no functioning prototype (yet), and no profits, but a very disproportionate mix of hours with a reasonably clear action plan until launch (much of which will fall on me).
What are your ideas for compensation in this early stage to still make the partnership work? Keep in mind that the partner, for the first 6 months, was doing 50/50. But in the last 3 months, it has been more like 80 (me)/20 (him). In addition to this, my partner has a full time job/family. I do not; I am only doing part time and would take full responsibility for delivering the products should the campaign be successful (which could take an indeterminate amount of time).
My agreement with him is to track hours, plain and simple, but I'm short on ideas of how this would turn into compensation for my additional effort, as I know I'm going to come up with way more hours.
Thoughts? Ideas? My partner has become a very close friend, but this is kind of F*cking up our friendship and partnership (We just full on yelled at each other until we were out of breath on Skype). He is very adamant about the 50/50 since the initial (not the prototype as it is now) idea was his. Obviously this pisses me off as we all know on here how "ideas"- in the conceptual form- are a dime a dozen.
So I've been making a product for the last few months (since September actually) intended to initially launch on Kickstarter. Long story short, it's gone on way longer than planned, and over the last few months, the effort was straying from 50/50; now it's at the point where I'd put it at 80/20 (80 for me).
Initially we agreed to do 50/50 profits from Kickstarter (if any), and then 50/50 equity of the company (this needs to get more thought out). There's no LLC yet though, no functioning prototype (yet), and no profits, but a very disproportionate mix of hours with a reasonably clear action plan until launch (much of which will fall on me).
What are your ideas for compensation in this early stage to still make the partnership work? Keep in mind that the partner, for the first 6 months, was doing 50/50. But in the last 3 months, it has been more like 80 (me)/20 (him). In addition to this, my partner has a full time job/family. I do not; I am only doing part time and would take full responsibility for delivering the products should the campaign be successful (which could take an indeterminate amount of time).
My agreement with him is to track hours, plain and simple, but I'm short on ideas of how this would turn into compensation for my additional effort, as I know I'm going to come up with way more hours.
Thoughts? Ideas? My partner has become a very close friend, but this is kind of F*cking up our friendship and partnership (We just full on yelled at each other until we were out of breath on Skype). He is very adamant about the 50/50 since the initial (not the prototype as it is now) idea was his. Obviously this pisses me off as we all know on here how "ideas"- in the conceptual form- are a dime a dozen.
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