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He wants to work with me

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

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

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    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 sh*t.

    I would like to get your opinion if my situation is explained clearly enough.
     
  2. Spicymemer45
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    Spicymemer45 Silver Contributor Read Millionaire Fastlane Speedway Pass

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    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
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    MTEE1985 Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Can you clarify this? Do you want his help or no?
     
    Lauryn likes this.
  4. Denis from BE
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    Denis from BE Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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

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    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
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    MTEE1985 Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    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
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    Zcott Contributor

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    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
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    Merging Left Silver Contributor Read Millionaire Fastlane Speedway Pass

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    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
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    WJK Gold Contributor Speedway Pass

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    So, he asked. You can always say no. No harm, no foul.
     
    Xeon likes this.
  10. loop101
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    loop101 Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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

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    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
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    BookwormMitch Silver Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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

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    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.
     

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