Contract negotiation

[morea]

http://198.173.235.195/negotiationtutorial.html

[panzer]

nice

[Derfie]

Very Helpful! Thanks!

[morea]

I learned a few things, so I figured it was a good one to pass on. :)

[tycomps]

Situation:

A vip level social networking website is launching by the end of the year and they
want me to be the project manager for the site development and launch (approx 11/1/2008), and the operations manager after the launch. The business entity is a LLC and is made up of two principals sharing equal ownership. They made the mistake of spending 30k for a website that didn’t work so now they have no budget with which to pay me. I am very passionate about this project, they feel it can’t be done without me, and if I was wealthy I’d do it for free but that’s not realistic so we’re trying to come up with a method of compensation. As this is a social networking site they won’t have a tangible product until the site goes live 11/1/2008 and even then there’s no revenue forecast. I had originally offered to take on the project at a rate that was bare minimum to cover my bills but they lack funds and can’t afford that. I would negotiate a percentage of the profits but there’s no way to determine that. I have broken down the average salary for a project/web manager and they’ve suggested that I work pro buono until the company is profitable and then they would pay me retroactively plus give me 4% of they company but that isn’t tangible either as it could be 4% of nothing. My concern is that I am very passionate about this project and will work almost round the clock on it however anything can happen and I don’t want to put a year into something without some kind of guarantee/contract. The other aspect is the project has the potential to be huge and I don’t want to pass up the opportunity. I’m looking for ideas anyone might have on how to make something like this happen. Any help is greatly appreciated, thanks in advance.

[urstwile]

tycomps, you'd be better off starting a new thread with your question.

[tycomps]

that was my intention but I don't see a link for 'new thread', only 'reply to thread'. perhaps I don't have enough posts?

[tycomps]

now the link is there, done. thanks