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Revenue Share or Hiring?

Topics relating to managing people and relationships

Hai

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I´m selling an educational product soon and want to bring people in who would improve the product massively.
Would you recommend to go for revenue share or would you hire it out? The people I want to hire might have a strong personal brand themselves already. All I want to do is give more value to my product.


Also I want to educate myself more about "equity" and some technical business stuff. Any book recommendations on that?
I mostly find books on mindset, but no actual technical stuff on running a company.
 
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ApparentHorizon

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Tough to answer from 3 sentences.

Could you improve the product from sending out surveys to your customers - without hiring or partnering?
Could you get a rev share partnership instead of equity?
Would the hires be employees or contractors?

What if you gave more value to your clients instead of your product?

investopedia.com is a good place to start.
 

lowtek

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read the personal MBA to start acquiring some background info.

I would generally avoid offering equity (read: control). Hire employees and/or consultants, where necessary. Don't give up control of your business, particularly if its your first one and you don't know the fundamentals.
 

Hai

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Sadly, too many wannabe entrepreneurs find the "technical business stuff" (like finance, accounting, cash flow management, dilution scenarios/formulas, fundraising mechanics, etc) to be boring, and don't spend nearly enough time educating themselves about those very important things. The best resources tend to be textbooks, but if you have specific questions, go ahead and post them. There are people here who may be able to help, or at very least, refer to some good reference material.

Thank you! I was looking for said textbooks. It´s fun to me to learn more about that.
 

Hai

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Tough to answer from 3 sentences.

Could you improve the product from sending out surveys to your customers - without hiring or partnering?
Could you get a rev share partnership instead of equity?
Would the hires be employees or contractors?

What if you gave more value to your clients instead of your product?

investopedia.com is a good place to start.

I did do surveys and I came to the conclusion that it would be best to ask people who are already good at what they are doing and help me solve these customer problems.
For the future I want to bring people in, who can create their own courses and I´m just the platform.
I have no idea how handle it.
They could do it for free and get 90% of the revenue, or I pay them a bit upfront and they get 50%rev share.
I don´t know.

Thank you for the link!
 

Hai

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read the personal MBA to start acquiring some background info.

I would generally avoid offering equity (read: control). Hire employees and/or consultants, where necessary. Don't give up control of your business, particularly if its your first one and you don't know the fundamentals.

I have actually picking that book up after posting this thread. Great coincidence.
I want them to do some course material for me, but not as their "own" course yet.

If I get people similar to udemy platform, the question is how I´m gonna pay them.
 
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devine

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I agree with improving my own value, however there are things I think people do better than me. That´s where I want to bring them in.
Not many good specialists would work on an educational product for fixed rate. You'll be lucky to find these people.
Therefore how would you answer this question:

What's better - to pay $10k to learn from a great specialist, then use the acquired knowledge and release a product worth $100k?
Or to pay 10k to "ok" specialist and release a product worth $25k?
 

Hai

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Not many good specialists would work on an educational product for fixed rate. You'll be lucky to find these people.
Therefore how would you answer this question:

What's better - to pay $10k to learn from a great specialist, then use the acquired knowledge and release a product worth $100k?
Or to pay 10k to "ok" specialist and release a product worth $25k?

Thanks! I´m thinking a lot about how to solve this the best way possible. I currently thinking of bringing people in jsut as "guests", but in the long term I still might want to build out a platform consisting of specialists.


For anyone interested, looking for "mba" stuff seems to give a lot of results. Also:

https://personalmba.com/best-business-books/
https://mixergy.com/courses/
 
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