here is some advice from experience- get everything in writing
exit strategies- what happens when someone wants out, what happens when two want one out.
Roles- who will do what, what hours will be put in, what happens to a partner if they do not put in the agreed upon time
Compensation- what will partners get paid for time/money put in.
As far as structure, a lot depends on how much money and how much time. If money guy is putting in 1 million and you and the other partner are only working 20 hours a week, he is going to feel pretty jacked if the split is even. On the flip side, if he is putting in 20k to start it, and you and other partner are working 80 hours a week, you guys are going to feel pretty jacked if you all are making 80k a year in profit.
Open and honest communication on the front side will save you much pain on the back side. This I learned from experience.
exit strategies- what happens when someone wants out, what happens when two want one out.
Roles- who will do what, what hours will be put in, what happens to a partner if they do not put in the agreed upon time
Compensation- what will partners get paid for time/money put in.
As far as structure, a lot depends on how much money and how much time. If money guy is putting in 1 million and you and the other partner are only working 20 hours a week, he is going to feel pretty jacked if the split is even. On the flip side, if he is putting in 20k to start it, and you and other partner are working 80 hours a week, you guys are going to feel pretty jacked if you all are making 80k a year in profit.
Open and honest communication on the front side will save you much pain on the back side. This I learned from experience.