I have a question about how to structure a partnership with someone who's a current client.
Background:
I've been burned in the past trying to partner with people.
And, I don't want to screw up the relationship with the client, since I get a significant amount of consulting revenue from this firm.
To structure things, I'm thinking something bare-bones, like for 60 or 90 days, then re-evaluate--and spell out each of our duties, ownership, revenue split. I'd rather not create a new business entity just to test this idea...
What would you suggest?
What'd be a simple way to start this--without it being complicated, and with relatively little risk?
Background:
- One of my current consulting clients (who's an attorney, & for whom I've done consulting work for 10+ years) has a business idea which is essentially building a database of leads, and selling access to the leads to businesses.
- I'd be doing all the technical work (building the database, the website, SEO, payment functionality, etc.).
- My client/potential-partner would provide legal services/know-how to obtain hard-to-access info that would make the data more valuable to buyers, & they might also do some sales.
I've been burned in the past trying to partner with people.
And, I don't want to screw up the relationship with the client, since I get a significant amount of consulting revenue from this firm.
To structure things, I'm thinking something bare-bones, like for 60 or 90 days, then re-evaluate--and spell out each of our duties, ownership, revenue split. I'd rather not create a new business entity just to test this idea...
What would you suggest?
What'd be a simple way to start this--without it being complicated, and with relatively little risk?
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