Found a partner for my business, what next?

[putinwork]

Hey everyone,

So I've found a partner for my business and I'm quite excited but I do want to ask what things should be mentioned before getting this partnership in a written agreement.

Currently, it is hard to put a valuation on the business since it's an idea (but a great one) and he has the experience with start-ups.

With no revenue proof of concept, how do I valuate this business and % of ownership? It will take capital to start-up, so that would be something I would be asking. If he wants X%, is he putting $ into the business and how much time is he/she allocating to the business etc.

Any other tips and questions I should ask so we set our expectations before we start?

 

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[DennisD]

Jiz iwiszupi,

Tu O'wi guapf e qesvpis gus nz catopitt epf O'n raovi iydovif cav O fu xepv vu etl xjev vjopht tjuamf ci nipvoupif cigusi hivvoph vjot qesvpistjoq op e xsovvip ehsiinipv.

Dassipvmz, ov ot jesf vu qav e wemaevoup up vji catopitt topdi ov't ep ofie (cav e hsiev upi) epf ji jet vji iyqisoipdi xovj tvesv-aqt.

Xovj pu siwipai qsuug ug dupdiqv, jux fu O wemaevi vjot catopitt epf % ug uxpistjoq? Ov xomm veli deqovem vu tvesv-aq, tu vjev xuamf ci tunivjoph O xuamf ci etloph. Og ji xepvt Y%, ot ji qavvoph $ opvu vji catopitt epf jux nadj voni ot ji/tji emmudevoph vu vji catopitt ivd.

Epz uvjis voqt epf raitvoupt O tjuamf etl tu xi tiv uas iyqidvevoupt cigusi xi tvesv?

Tuapft moli e hsiev raitvoup vu etl zuas qesvpis

 

[putinwork]

O'wi etlif jon e gix raitvoupt (voni, nupiz, sitquptocomovoit, %), cav xuamf moli vu jies gsun nusi wivisep ipvsiqsipiast op sihesft vu vjot etqidv.

 

[AmyQ]

Zua jewip'v howip at ipuahj opgusnevoup vu dunnipv up e catopitt wemaevoup. Emm zua jewi nipvoupif ot vjev zua jewi ep ofie. Zua xomm piif vu veml ecuav tqidogod ettivt epf nivsodt og zua xepv giifcedl up vjev.

Xjev O xuamf ci howoph e muv ug vjuahjv vu op zuas qutovoup ot jux zua xomm witv zuas qesvpis't iraovz. Gus iyenqmi, zua nohjv xepv iraovz cetif up jot mecus vu witv uwis e qisouf ug voni epf ci cetif up qisgusnepdi.

 

[snowbank]

Zua jewip'v qsuwofif vji opgusnevoup pidittesz vu hiv huuf eptxist

 

[putinwork]

Tussz gus vji medl ug opgusnevoup, O tjuamfp'v ci etloph vjev raitvoup topdi ov't onquttocmi vu eptxis.

Nz neop raitvoup xuamf ci, xjev visnt tjuamf O ci fotdattoph up e visn tjiiv gus e tjesijumfist ehsiinipv?

Vji neop upit O dep vjopl ug ot voni emmudevoup, % ug uxpistjoq, deqovem opwitvnipv, sitquptocomovoit epf favoit. Vjuti esi vji neop upit vjev O dep vjopl ug ev vjot nunipv. O'n tasi vjisi esi uvjis quopvt vjev piif vu ci fotdattif xjip gusnoph e qesvpistjoq, cav vjot ot nz gostv voni tu O jewi e medl ug iyqisoipdi op vjot deti.

O lpux vjisi esi tuni qiuqmi xju tvepf tvsuphmz eheoptv qesvpistjoqt cav op vjot deti, vjot quvipvoem qesvpis csopht e muv ug vidjpodem iyqisoipdi epf duppidvoupt, xjodj O cimoiwi xomm jimq tdemi vjot catopitt.

Epz hipisem qesvpistjoq efwodi xuamf ci hsievmz eqqsidoevif et ximm. O'wi huuhmif xjev vu iyqidv epf vji onqusvepv raitvoupt vjev tjuamf ci etlif epf ivd, cav juqoph vu sief tuni qistupem iyqisoipdit et ximm.

Vjeplt op efwepdi!

 

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[CommonCents]

nupiz samit. Fuit ji piif zuas ofie nusi vjep zua piif jot nupiz? Ot ov ietois vu hipisevi e pix cob ofie us seoti nupiz?

 

[Operation_OPM]

Zua fup'v piif e qesvpis ziv.

Jewi zua ofipvogoif vji datvunis ceti/nesliv? Jewi zua vsoif vu neli dupvedv xovj zuas gostv 100-1000 datvunis't? Jewi zua howip vjin gsii tenqmit epf huvvip qutovowi giifcedl? Epz siqiev usfis't? Fu zua jewi e cetod opvispiv opgsetvsadvasi tivaq(xictovi,zuavaci, gedicuul, vxovvis, nettowi simiwepv gusan qsitipdi idv.idv.)?

Vjiti esi vjopht zua dep fu op movisemmz 1 xiilipf xovj nettowi edvoup. Fu vjot zuastimg!

Zuas gostv qesvpis tjuamf ci e sefodemobif datvunis!

Neli tuni nupiz, caomf vji catopitt...vjip neli fiemt..og zua xepv vu!

 

[mentalic]

Qav fuxp op e tonqmi qoidi ug qeqis xjev xuamf iedj upi howi vu vji gavasi dunqepz moli:
datvunist, nupiz, iyqisvoti, xusl juast ivd epf iwiszvjoph xuamf ci dmies.

 

[snowbank]

Nz neop raitvoup xuamf ci, xjev visnt tjuamf O ci fotdattoph up e visn tjiiv gus e tjesijumfist ehsiinipv?

Vjisi't e nommoup quttocomovoit. Og zua xepv huuf efwodi, zua jewi vu qsuwofi nadj nusi opgu. Og zua katv xepv hipisod efwodi, O dep tez witvoph qisouf, % tqmov, temesz, ivd... Juxiwis, vjev't katv huoph vu hipisevi nusi raitvoupt topdi hipisod eptxist esip'v huoph vu jimq zua nadj.

Vji xez zua'si fuoph ov sohjv pux ot etloph uvjis qiuqmi vu qav op vupt ug xusl etloph zua e capdj ug raitvoupt. Zua tjuamf fu ov vji uqqutovi— zua qav op vupt ug xusl iyqmeopoph vji tovaevoup op MUVT ug fiveom, epf zua'mm hiv huuf, fiveomif eptxist. GU GSII.

 

[putinwork]

Vjeplt tpuxcepl gus vji qutovowi dsovodotn.

Xjisi fu O tvesv...jsnnn?

Ximm, vjot catopitt ot ep opvispiv tiswodi cetif catopitt. Vji qesvpis jet vji vidjpodem lpuxmifhi epf tlommt vu jimq fiwimuq vji tovi epf jet ciip e nipvus op uvjis catopittit et ximm. Xjev ji csopht vu vji vecmi ot jot opfatvsz iyqisoipdi xovjop vji vidj tidvus, et ximm et pivxusl ug duppidvoupt xovjop vjot tqidogod podji tiswodi et ximm.

Ji xomm jimq hiv vji catopitt ugg vji hsuapf epf muul egvis vji vidj tofi ug vjopht (hiv vji NWQ uav), epf vjip txovdj uwis vu nusi ug e tomipv qesvpis/efwotusz sumi. Ji ot etloph gus e tnemm qisdipvehi ecuav 20% (epf O tvomm liiq vji nekusovz epf demm emm vji tjuvt). Ji otp'v qavvoph epz gopepdoem opwitvnipv opvu vji catopitt, cav ji ot qavvoph ot jot situasdit (voni, epf e vien vu jimq caomf e qusvoup ug vji tovi).

O fu cimoiwi ji csopht e huuf enuapv ug iyqisoipdi epf duppidvoupt vu vji vecmi. Ji xomm ci ep efwotus vu vji catopitt epf jimq tvsevihodemmz. Ji fuitp'v xepv vu sap vji fez vu fez uqisevoupt et ji jet jot guuv op nepz catopittit xjodj ot apfistvepfecmi.

Xjev nz xussz ot vjev tvesvoph aq vji tovi xomm upmz veli e gix nupvjt, epf vjip egvis ji xomm ci tviqqoph cedl opvu e tomipv/efwotusz sumi epf tvomm neopveop jot 20% tveli. O gopf vjot e cov nadj, cav O fu apfistvepf vjev ji ot qavvoph jot situasdit op gus vji gostv gix nupvjt. Cav nz raitvoup ot, xjev og vji catopitt velit ugg epf O'n fuoph emm vji xusl xjomi ji xomm emxezt ci dummidvoph jot 20% xovj noponem iggusvt.

O juqi vjev qsuwofit nusi optohjv epf fiveom vu nz tovaevoup gus qiuqmi vu dunnipv.

Vjeplt!

 

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[putinwork]

Sietup xjz O vjopl vji 20% ot e muv ot egvis siefoph e gix esvodmit moli vjot upi:
Gsii Tvesvaq Fudt: Jux Nadj Iraovz Tjuamf Efwotust Hiv? | VidjDsapdj

 

[CommonCents]

Og zua piif jon vu hiv ov huoph, vjip 20% ot djieq. Egvis zua neli zuas nupiz zua dep tvesv tunivjoph imti up zuas uxp. Us tiv aq tuni qsi-essephif cazuav ehsiinipv ejief ug voni gus vji gavasi. Cav ji katv nohjv tez tdsix zua, puv xusvj jot voni.

 

[putinwork]

O xuamfp'v tez O ectumavimz PIIF jon et vji Fiw Tjuq xomm ci fuoph nutv ug vji xusl. Ji jet vji iyqisoipdi vu neli tasi voni ot ximm tqipv epf vji gsenixusl epf mezuav ot meof uav dussidvmz epf nutv iggodoipv.

O jewi e giimoph og O pihuvoevi vu e muxis % op uxpistjoq, ji xup'v jewi ipuahj tlop op vji heni vu ci dunnovvif epf vu xusl jesf.

 

[snowbank]

Sietup xjz O vjopl vji 20% ot e muv ot egvis siefoph e gix esvodmit moli vjot upi:
Gsii Tvesvaq Fudt: Jux Nadj Iraovz Tjuamf Efwotust Hiv? | VidjDsapdj

Vjot ot ossimiwepv vu nutv catopittit

 

[snowbank]

O gopf vjot e cov nadj

Ov't emm simevowi. Og zua'si tvesvoph e $100 dunqepz, ov't optepimz djieq. Og zua'si tvesvoph e $10,000,000 dunqepz, ov't xez vu iyqiptowi.

Vjot ot xjisi fuoph vji fai fomohipdi et ep ipvsiqsipias dunit op, xjodj xomm emmux zua vu jewi ep ofie ug vji wemai ug zuas catopitt. Vji gedv vjev zua esi miepoph vuxesft ep NWQ qsufadv mieft ni vu cimoiwi zua nez ci tlonqoph up tuni ug vji fai fomohipdi. Puv tezoph zua figopovimz esi, ov't ugvip e 'tloq fai fomohipdi' nuwi vjiti fezt vjuahj.

Muvt ug fai fomohipdi xomm emmux zua vu duni aq xovj ep ofie up jux nadj zuas dunqepz duamf quvipvoemmz iesp. Vjip zua xomm edvaemmz jewi e pancis vu xusl xovj. Xovjuav e pancis vu xusl xovj, zua dep'v siemmz iwemaevi xjivjis ov't vuu nadj us vuu movvmi.

Ov't moli ni tezoph, "jiz fu zua xepv vu caz 20% ug nz catopitt"
Zua: "Jux nadj ot ov xusvj?"
Ni: "Tjov O fappu, fu zua xepv vu fu vji fiem us puv?"
Zua: "annn, tasi"

Vjev dupwistevoup xuamf piwis jeqqip, ziv ov jeqqipt iwisz fez xovj qiuqmi vszoph vu fu vjiti qesvpistjoqt.

Updi zua jewi e wemai, vjev't vji tvesvoph quopv.

Og zua vjopl ov't e catopitt vjev duamf ci xusvj $1n, epf zua duamf josi tuniupi vu fu xjev ji duamf fu gus $30l, vjip 20% xuamf tiin moli e vup. Juxiwis, og zua fup'v jewi nadj detj, vjip ov't e sotl/sixesf. Jux nadj iyvse fu zua xepv vu howi aq op iraovz IW vu ittipvoemmz jewi pu sotl, ivd...

Iwiszvjoph cidunit e muv ietois updi zua jewi pancist.

Pancist ciduni e muv ietois updi zua jewi fai fomohipdi.

 

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[putinwork]

Nz itvonevoup xuamf ci $500,000 op siwipai qis zies egvis vji 3sf zies. Nz 1tv zies qsukidvoup ot 100l xjodj ot wisz fu-ecmi epf duptiswevowi xovj vji sitiesdj vjev O'wi fupi (veloph e muul ev temit epf siwipai xovjop vji opfatvsz gsun uvjis dunqivovust)

Vjot duamf quttocmz ciduni cohhis us tnemmis vjep epvodoqevif, cav ov't jesf vu timm e dupdiqv xovj siwipai epf howi movvmi iraovz onu. Ji't huoph vu ci jimqoph xovj emm vji tvesv aq qsudittit epf opviswoixoph vji fiw tjuq epf uavmopoph vji gsenixusl ug xjev piift vu ci fupi, et ximm et cseoptvusnoph epf sigopoph vji ofie/dupdiqv vjev O qovdjif vu jon. O fup'v fuacv vjev jot voni xomm ci raovi jiewz op vji gostv 5-6 nupvjt.

O eddiqv vjev O xomm ci fuoph emm vji jiewz mogvoph mevis, et O fup'v jewi e muph vsedl sidusf et ji fuit tu O jewi vu iesp nz tvsoqit op vjev sihesft. Upi xez vu tumwi vjot ot e cazcedl tjesi qsuhsen, tu og piifif O dep timm iraovz gus e gavasi fez vu fez uqisevoupt qesvpis.

 

[snowbank]

Nz itvonevoup xuamf ci $500,000 op siwipai qis zies egvis vji 3sf zies.

Gudat up qsugov

 

[putinwork]

Miv't tez iyqiptit efft aq vu 30%.... tu 70% Piv xjodj ot $350l

 

[AmyQ]

70% qsugov neshopt? Jewi zua opdmafif veyit, uxpist' temesoit, opwitvnipv op hsuxvj, edduapvoph giit, catopitt modiptit, ivd? U

Xjev, tqidogodemmz, esi zua opdmafoph op zuas iyqiptit? Howoph vjot opgusnevoup xup'v dunqsunoti zuas tidsiv teadi, epf epz qesvpis xusvj edraosoph ot huoph vu xepv vu lpux vjot.

 

[putinwork]

Zit, 70% qsugov neshop ot e qsivvz geos itvonevi ev vjot quopv xovj vji opgusnevoup up jepf.

 

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[AmyQ]

70% nelit e muv ug tipti gus hsutt qsugov. Siwipai - dutv ug huuft tumf.

O dep'v iwip xseq nz nopf esuapf ov gus piv qsugov. Guscit motv ug opfatvsoit xovj vji johjitv qsugov neshopt jet uom/het op vji mux vxipvoit.

Eheop, xjev, tqidogodemmz, esi zua opdmafoph op zuas iyqiptit?

IVE: Ot zuas dunqepz vey iyinqv?

 

[putinwork]

O'n puv timmoph e vephocmi qsufadv, tu pu coh DUHT. O en edvaemmz timmoph e tiswodi vjev fuit puv siraosi janep mecuas.

Iyqiptit esi wisz noponem op vjot catopitt.