Hi,
I am developing an online business with a partner. We came up with the idea together and have fine-tuned it as well. She brings a-lot of professional knowledge (it is a product targeted for parents and educators and she is both) and I bring a-lot of "get shit done", as well as a substantial technical know-how.
It became clear quite fast that the majority of the work is falling on me, as she created content once, and then I proceeded to make it into the product, which is very time-intensive.
We now have a prototype, and out next steps will be to reach out to key players in our market, get feedback, iterate, develop a business plan etc.
At this stage we are signing a written agreement on the nature of the partnership. I am wondering what deal to propose to her. I identify two things to be split up: ownership of idea/business, and compensation for time invested in all future work.
We had an oral agreement that we will split profits 50/50, but I have realized that I am investing much more time than she is, and in fact - without me there will be no business. What offer do you think makes sense?
I would love to learn from anyone that has thoughts to share, past experiences with this type of issue, or anything else relevant.
Thanks so much!
I am developing an online business with a partner. We came up with the idea together and have fine-tuned it as well. She brings a-lot of professional knowledge (it is a product targeted for parents and educators and she is both) and I bring a-lot of "get shit done", as well as a substantial technical know-how.
It became clear quite fast that the majority of the work is falling on me, as she created content once, and then I proceeded to make it into the product, which is very time-intensive.
We now have a prototype, and out next steps will be to reach out to key players in our market, get feedback, iterate, develop a business plan etc.
At this stage we are signing a written agreement on the nature of the partnership. I am wondering what deal to propose to her. I identify two things to be split up: ownership of idea/business, and compensation for time invested in all future work.
We had an oral agreement that we will split profits 50/50, but I have realized that I am investing much more time than she is, and in fact - without me there will be no business. What offer do you think makes sense?
I would love to learn from anyone that has thoughts to share, past experiences with this type of issue, or anything else relevant.
Thanks so much!
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
