People have asked me based on some of my comments in other threads, what I look for in a partner. Normally I don't. I have a partner in my production company who was basically what you call a VC. He threw in some cash, and hasn't done much else for his 30%. Since that start up, I have been offered many other partnerships with companies who need my expertise, and I turn them down. Typically for two reasons. 1. They have no business plan, or investment capital. 2. They have no skills. For me to ever consider a partnership, of any kind, it must be MUTUALLY advantageous. That means we BOTH have a win-win. Not me doing all the work, and you getting all the rewards, etc. So, on to this subject of partnerships and would I consider one... I would consider a partnership IF the following conditions are met. 1. You have some green. Cash money to invest in the enterprise. 2. You have the skills I do not. This would be someone who is a good programmer. 3. You are in the U.S. or Canada. Mainly for logistics, and law. In this kind of partnership, I would have someone in house that can build me what I need for some bigger projects I am working on. They could also help me on some computer applications I would like to build, and would over time learn more about making money online. The shared ventures would generate green for both. Making it advantgous for them, since typically programmers do not know the sales side, or how to monetize. Or, they simply do not have an interest. I would also have someone who could help on the web hosting company I am working on. This is yet another opportunity for them, and me, to make some more green, and build another asset. Over time, all of these little things 20% here, 15% there, 50% where ever will help them be online business full time. Of course they could also consider ventures not in the shared company. Just as I would have my own. One would fill in where the other doesn't have an interest, or the skills. Making it a TRUE partnership in money, and resources. I have tons of good ideas I could crank out with a programmer in the mix. But I also have been in business long enough to know the following... 1. It's hard to find a reliable, GOOD, programmer with long term vision. 2. Most people do not have, or are willing, to throw in some green for an investment on this board. 3. Most people I get contacted by are short sighted. Number two is the most important. You can't expect ME to bring in 10 years online experience, and my business and investment, and future ideas and develops in the mix all because YOU "want to get into da biz". I said previously MUTUALLY advantageous. You wet my lips with some green, and bring some skills to the table, and then I will consider it. I know what works, and doesn't. I can monetize good ideas. Plus I have a network of sites. Most have none of those things, so stepping to me puts you at an automatic disadvantage. Great ideas are worthless unless you know how to capitalize them. So, despite my interest, I keep plugging away contracting out the work to freelancers. Pay them their fee, keep more money for me. The trade off is things progress slower than I would like at times, and there can be communication issues when dealing with some free lancers. But then I also do not end up with a lazy business partner.
I'm going to follow up in the thread some of the questions I get asked in PM, and IM. This hopefully answers them in the thread, and I am not answering the same questions over and over. Q: In regards to partnership, how much is the minimum buy in on something like you describe. A: $3,000.00 Q: Would you consider payments? A: If you have a good reputation, from U.S. or Canada, and can pay a certain min. amount of say... $500 a week. Sure. Q: How would the partnership work? A: You develop the scripts, sites, and applications I need. You share in the profits. In the meantime, you learn the biz, and can develop things outside on your own if you choose. As I will be doing the same. Q: What's one of the most important things (I) look for in a partner? A: Work ethic and drive. Maybe that's two things? But you have to keep up with me. I am 5th gear, foot to the floor on ideas and motivation. I am not interested in excuses. If something's broken, fix it. You always have to keep moving forward. Q: Why only Canada, or U.S.? A: So you can sign a non-compete, and NDA (non-disclosure agreement). Q: What is something that most people do not think of in a partnership? A: Personalities. My current busienss partner in the production company are night in day. I've known him 8 years, worked with him 4, and barely know him. We are night and day. He is an alpha male, and I am more of a go-with the flow. But as I mentioned previously, he brought the house, and start up or VC cash to the table. He doesn't do anything else, and collects his 30%. However, I am hoping to buy him out this year, or next. Q: Do a lot of people try and partner up? A: Yes. However, in short order either the requirements, or buying in filters them out. A lot do not have the skills I need. You have to be a good programmer. Others are still trying to break the house on red and black (i.e. adsense). Q: Why would a programmer want a deal like this? A: Well not all, but a lot of programmers, do not have the creative juices. They are more technical, and build it guys. Where I have the ideas, and know how to sell them. So making money is fairly easy for me. My frustrations come in dealing with new programmers, and tech people each new project when I have to contract it out. Alright, I think that covers most of the questions I have got lately. If there is something I am missing, shoot me an note.