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I started vague as to not sound for/opposed to the question, so happy to reply here. Originally we agreed on 1/3 splits as we all brought a key piece to the co
by noinput 14y ago
I started vague as to not sound for/opposed to the question, so happy to reply here.
Originally we agreed on 1/3 splits as we all brought a key piece to the company. I was heading up dev, my other partner originally had the idea and provided great insight to what I was developing, and our third (person in question) got us face to face with our new advisor who is the one confident in raising us a seed round. We may or may not have gotten this far without him to date (in terms of the seed), however to be fair on all ends, we don't need a large seed to have an MVP. If we do accept it, it's absolutely because the seed players/funders will help us better position the company as well of course fund development.
- veyron 14y agoDo you actually need significant capital investment to put out an MVP? If not it may make sense to get that out first and then discuss the seed.
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- noinput 14y agoWe do not, which is also why this is a concern. However we're not undervaluing the growth that could be a reality if this firm does invest in our success. We don't need much yet we'd happy take it and bank it to ensure we're working with the right people. Hence our concern about liquidating it for one salary.
- veyron 14y agoIt's easier to get more money on better terms if you have an MVP and can show some traction. I'm not suggesting to squeeze every penny, but you have leverage in discussions when you can do it that way.
- noinput 14y agoTrue. We're not dying for the large cash, we just need a bit more to get to market. Thanks!