Shit! Lets talk about money…

Okay, its come to the point where i want to work with someone on helping them develop their idea. We both want to work together, and agree that the venture should be profitable to both of us, in equal measure to what he has brought to the project.

Problem is- how the hell do we decide what this actually means!!

It’s easy, if i just help him develop a prototype and hand it over – then i should just charge an hourly rate; the more complex the prototype the longer it takes, the more it costs. Simple.

however, what if i want to offer more than that, if i want to offer my design and development expertise, or my opinions on directions in marketing the product, or introduce him to specific people i have in mind who can lend a hand? This doesn;t fit with the hourly rate…

It all comes down to risk, and how much i am prepared to gamble on this guys idea…

I need some professional advice, and quick!

PS: Do not contact me offering services of a business nature – i am well served in that department, and this post should in no way be construed as a request for a barrage of emails from ‘invention’ companies, venture capitalists from Peru or anything else.

cheers,

Philip

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