• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 50,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

He wants to work with me

Discussion in 'Ideas, Needs, Concept Feedback' started by Denis from BE, Aug 9, 2018.

  1. Denis from BE
    Offline

    Denis from BE Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    42
    Likes Received:
    35
    Joined:
    Apr 3, 2017
    Gender:
    Male
    Location:
    Belgium
    Rep Bank:
    $215
    Hi guys,

    I'm just thinking about starting a new business for now. A side business in parallel of my slowlane job.
    (e-commerce)

    I have a colleague (who's also a friend) who works in the marketing departement inside my company as a designer/graphist.

    I talked to him about my idea in order to have his opinion and found that very interresting and gave me some very useful advices about design and brande image. So I asked him if he was ready to work with me for the service deployment and he directly replied that he would work with me if he can get a % of sell.

    I don't know how to take his proposal as I first thought I would do all the stuff on my own for this project. Including the website deployment and advertisement.

    Also, I found his asking cheeky because the way I see my project is that I'll need a lot of "one shot" work (website design / logos) but then what he will do ? Because if the next step is to sell the products, this guy who get his % doing nothing shit.

    I would like to get your opinion if my situation is explained clearly enough.
     
  2. Spicymemer45
    Offline

    Spicymemer45 Silver Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    194
    Likes Received:
    695
    Joined:
    Dec 30, 2016
    Gender:
    Male
    Location:
    Butner, NC
    Rep Bank:
    $227
    Why not just outsource/hire someone?

    1.) It won't impede on the friendship
    2.) No %'s

    Looks like a win to me.

     
    Xeon likes this.
  3. MTEE1985
    Offline

    MTEE1985 The world belongs to the risk takers Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    471
    Likes Received:
    1,472
    Joined:
    Jun 12, 2018
    Gender:
    Male
    Rep Bank:
    $1,635
    Can you clarify this? Do you want his help or no?
     
    Lauryn likes this.
  4. Denis from BE
    Offline

    Denis from BE Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    42
    Likes Received:
    35
    Joined:
    Apr 3, 2017
    Gender:
    Male
    Location:
    Belgium
    Rep Bank:
    $215
    Yeah I'm thinking about just ask someone else to do that job (if I can't) and tell him that I've done it by my self.
     
    Spicymemer45 likes this.
  5. Denis from BE
    Offline

    Denis from BE Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    42
    Likes Received:
    35
    Joined:
    Apr 3, 2017
    Gender:
    Male
    Location:
    Belgium
    Rep Bank:
    $215
    well, I'm not sure actually as he gave me very valuable advices in a very short period of time. But beside of this, I want to develop my thing by myself. Especially if his condition is a part of sells. Maybe I got the wrong mindset about this point. Or maybe I would work with someone from outside and that's it.
     
  6. MTEE1985
    Offline

    MTEE1985 The world belongs to the risk takers Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    471
    Likes Received:
    1,472
    Joined:
    Jun 12, 2018
    Gender:
    Male
    Rep Bank:
    $1,635
    If you want to do it yourself than you’ve answered your own question.

    If you think he could help then it comes down to value he can add. If I thought somebody could expand or grow my business 100% why wouldn’t I give them 20% of it?

    If he helps with a one time project then any % of sales would be foolish, unless it’s a Kevin O’Leary type deal where he gets a % until he is paid X and then he’s out.
     
    Denis from BE likes this.
  7. Zcott
    Offline

    Zcott Bronze Contributor I've Read UNSCRIPTED Speedway Pass

    Messages:
    195
    Likes Received:
    368
    Joined:
    Jul 24, 2018
    Gender:
    Male
    Rep Bank:
    $1,883
    You said your colleague provided you with useful information, and he works in marketing... Instead of giving him a percent, why not pay him for services as and when required?
     
  8. Merging Left
    Offline

    Merging Left Silver Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    328
    Likes Received:
    604
    Joined:
    Jul 20, 2014
    Gender:
    Male
    Rep Bank:
    $3,718
    I think you're kind of putting the cart before the horse here. Sure, ownership structure is critical, but do you even have a product yet?

    He gave you some cool suggestions. Why don't you outsource the one-off things like web development, implement his suggestions, see how far you get, then assess? If you're getting stuck in an area he might add a lot of value to, you can decide if it's worth bringing him in as a partner.

    TL;DR: Do everything you can without help. If you get stuck, get help.
     
    Xeon likes this.
  9. WJK
    Offline

    WJK Gold Contributor Speedway Pass

    Messages:
    643
    Likes Received:
    1,430
    Joined:
    Oct 9, 2017
    Gender:
    Female
    Location:
    Nikiski, Alaska
    Rep Bank:
    $9,412
    So, he asked. You can always say no. No harm, no foul.
     
    Xeon likes this.
  10. loop101
    Offline

    loop101 Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    596
    Likes Received:
    901
    Joined:
    Mar 3, 2013
    Rep Bank:
    $336
    Never give anyone a share or percentage of your business. Own it 100% until you are ready to sell it.
     
    Xeon likes this.
  11. biophase
    Offline

    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    6,213
    Likes Received:
    27,177
    Joined:
    Jul 25, 2007
    Location:
    Scottsdale, AZ
    Rep Bank:
    $182,054
    I don’t understand why you asked I’m to work with you? His response seems reasonable.

    You should have asked him to help you.
     
    Spicymemer45 and Xeon like this.
  12. BookwormMitch
    Online

    BookwormMitch Silver Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    443
    Likes Received:
    685
    Joined:
    Mar 8, 2014
    Gender:
    Male
    Rep Bank:
    $513
    He probably just assume that’s what you wanted to do since you didn’t offer to pay him maybe he thought you’d prefer to do it that way as you are just starting out. Either tell him you’ll pay him a lump sum for work done or give him the %.
     
  13. Denis from BE
    Offline

    Denis from BE Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    42
    Likes Received:
    35
    Joined:
    Apr 3, 2017
    Gender:
    Male
    Location:
    Belgium
    Rep Bank:
    $215
    Nop, he jumped on this percent proposal after I told him I would pay him for his help. So that's clearly what he wants. But you guys are right, I'll progress as far as I can without his help then if I get stuck I'll ask his help (payed). But no percentage sharing.
     

Join 1000s of entrepreneurs who are rewriting life's script and winning financial freedom.

---- ----

You must be a member to join the conversation.

Create Account

Join the community fast and easy!

REGISTER

Log In

Already have an account? Login here.

LOG IN

Share This Page