| You didn't give us enough information to answer this question well. 1. Like why can he only commit 1 full day per week, is it money, a bad time, he wants to see how the startup turns out before committing? 2. Do you have money to pay him? 3. Do you need him? Situations you do want to be in. 1. Make him an insulting offer that sours your friendship 2. Company dies due to founder deadlock 3. Having a silent partner who didn't commit like you did 4. Be unable to raise money because he has 50% equity and isn't committed. Investors don't want to invest in a company a founder doesn't believe in enough to quit their job, and they don't want to invest in a company where 50% of equity is tied up. Some general advice 1. Make sure he vests 2. If you give him 50/50 make sure there is a shotgun clause 3. Set a timelimit on when he has to join full time. (something like he needs to come work on the project full time with 365 days, and his vesting starts then. If he never makes the jump he doesn't get the equity. Basically he's working for the option to come on board if things work out) 4. I'd offer him the 50/50 split to quit his job and come work with you full time so he knows you value him as a partner. 5. I definitely would not give someone 50% of my company to work on it part time unless I absolute had to. |
>> You didn't give us enough information to answer this question well. >> 1. Like why can he only commit 1 full day per week, is it money, a bad time, he wants to see how the startup turns out before committing?
One reason is that he has some major responsibility of existing job. Also because currently the hardware part is relatively self-contained and has a smaller scope.
>> 2. Do you have money to pay him?
Not now, and probably not in near future.
>> 3. Do you need him?
Yes as of now. I don't have the skills required to design / build PCB.