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  1. #1
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    Work for equity opportunity

    I'm looking for someone that knows how to create a social networking site (client side and server side) from scratch to finished product. Anyone east coast USA would be preferred. No money, just time. The money comes when this blows up.

    Greg
    gotmyphilosophy@me.com

  • #2
    Senior Coder Rowsdower!'s Avatar
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    If someone knows how to build a social networking site from scratch then what would they need you as a partner for?

    And if you say "marketing" or "hosting" I will poop in my pants...

    My point is, for anyone to be interested in a business venture such as yours you will need to clearly explain 2 things, for starters:

    1. What you are going to be adding to the team that warrants a programmer cutting you in on the profits.
    2. Why you feel your social networking scheme will be profitable at all (given the competition in the field). What will make your site stand out, and exactly what mechanism(s) will the site use to generate income? (A paywall? Ads? Something else?) If you're going to be using a paywall, why would anyone pay for access to your social networking site? If you're using ads, why would anyone advertise with your site over another?


    Also consider that if your involvement only consists of the base idea (assuming your idea is something much more targeted than "a social media website") then you're probably not going to be able to negotiate a very large share of the "profit sharing" for yourself. Are you going to be coding anything for this (even front-end)?

    Just some food for thought... Re-bait your hook and cast again.

    Best of luck with your project!
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  • #3
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    Oh, it's a huge idea. Original. Unique. Listen, I've been in the property management business for 15 years and I know nothing about coding or servers or anything else other than what I see as a user. I had this unique idea about 10 years ago and then just this past summer, I experienced a moment of enlightenment that has kept me awake every night since then. So much so that ive decided to start learning your side pf the business, because if I can't find anyone to join in, I'll have to do as much as I can on my own until I get this thing into an alpha testing phase that I can take to investors.

    The target market would be every adult in the world. No membership fees and a totally revolutionary advertising setup.

    The person I would like to partner with on this just needs to know a lot, not necessarily DO everything up to the finished product. Since its only on paper at this point, I don't feel that I have enough to go ask for a hundred grand to get it started.

    Good advice though. I'm headed out to get my coding for dummies book.

    Greg

  • #4
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    This is an enlightening read and pointer as to why you may receive less than enthusiastic responses:

    http://www.povonline.com/cols/COL209.htm

  • #5
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    Hey gotmyphilosophy,

    1. In your original post, you said "...from scratch to finished product". Now, you're saying "...just needs to know a lot, not necessarily DO everything up to the finished product". So, I'm confused as to what exactly you need the potential coder to do. Could you please clarify that?

    2. The way I see it, you can go two directions.

    • Find your person who agrees to do the coding at a potential but not guaranteed future income. This decision will likely lead to failure, because most likely the person will be either a student or a graduate just starting their career. Inevitably, he/she will build you a sh**y product which will essentially end up eating up more of your time and money.

    • Interview and find a professional. Pay them money to get the product up-and-running, just like any business owner(small and large) pays vendors for the products they provide and employees for the job that they do. Then when your business starts to take off and you need someone (maybe that same professional) to maintain the product, perhaps you won't even have to worry about partnership, just pay them a salary. It works out better for you in the long-run. And you do sound very confident that this will take off, therefore this expense should not even be an issue.


    Regards,
    Mike

  • #6
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    I've been burned on these deals way too many times, here's what you need to convince anyone you're serious...

    1) Business plan. If you don't have one, no programmer should work for you - PERIOD. You need to show this to your new "partner". Have them sign an NDA if you want, but if you can't divulge how you're going to make money, where it's coming from, and what your exit strategy is, that shows an inherent lack of trust - which is critical for such an arrangement to succeed.

    2) Set up a separate bank account where all expenses and revenue go. Let everyone with equity have access to the statements (not the account itself). Send the statements monthly to everyone involved.

    3) Put some skin in the game. It doesn't matter if its only a few hundred. If you have no skin in, then why would anyone else contribute? You should be able to self-fund at least 5% of the project. (i.e. if a programmer says it will take $10k to build, expect to pay at least $500 to them with the remainder in lieu of future profits / equity).

    4) Divulge who your investors are - names and addresses - to everyone with equity.

    5) Be prepared to give up a SIGNIFICANT STAKE in your company - to the point that you're a minority shareholder.

  • #7
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    Wow, great responses. Matt F's link had me rolling laughing - please forgive my ignorance in this realm. Great advice and food for thought from everyone. I'm going to rethink, replan, and I'll let you guys know what I come up with. Look for me over in the advice section soon. Cheers!

    Greg


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