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I trust my friend as a friend, but I've never done business with him. MP is, before this began, my friend's client. My friend trusts MP. Therefore, I'm extendin
by disposable_me 12y ago
I trust my friend as a friend, but I've never done business with him. MP is, before this began, my friend's client. My friend trusts MP. Therefore, I'm extending a lot of trust for MP through my friend's professional relationship with him. I do not know MP well enough to have developed significant feeling of trust or mistrust on my own.
The pre-existing 6-7 partners is what has made me suspicious to begin with, which prompted my post here. But they aren't doing nothing per se.
- My friend and his company (3 partners), the 30% holders, are bringing content/marketing/strategy not just to the company, but also as a primary deliverable of the company to its potential clients.
- The other 4 partners are apparently bringing their own combined years of experience building & scaling (non-technical) businesses. They are going to be focused on building & managing a human salesforce that will expand the reach of the business to get its services in as many business hands as possible. They comprise the other 70% equity holding at an unknown distribution.
That being said, you are using the wrong metrics
What are the right metrics? That's why I've posted the question. I'm not sure what the right metrics are. This is new territory for me. That said, I do disagree that the $100K discount is not real cash. MP has made it clear he does not want to pay my full rate, and wants me to exchange half that rate for a small equity stake. It strikes me as no different from being paid my full rate and turning around and handing half of it back to the company to purchase a stake. But I could be wrong in that assessment (which, again, is why I've posted the question to see things properly).
What happens in a year when your software is not finished, do you continue to develop and improve it for free, or do you send a new quote?
In a year, if there is more work to be done, I believe I'd be expected to do the work without a quote. They express wanting to have me feel committed/invested/responsible to the company & the tech.