hitmeasap
Level X5
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Hello everyone,
If you've read previous posts of mine, you might be aware of a few things by now..
For instance, that one of my friends more or less scammed me, (although it was due to my own stupidity), and I haven't heard from him since.
You might also be aware of the fact that I've always been interested in investing money in small/medium sized projects of all sorts.. - And I've been doing that with and without success. Also due to my own stupidity.
That being said, with all the things I've experienced, I'm now standing with one foot in the door for something I truly believe could be super lucrative. - The thing is, that one of my friends contacted me, because he knew I was a freelancer.. - And here's where the "tricky parts" begin.
What he basically wants, is to do a 50/50 split.. For his idea. - I need to invest some money and we'll be using my sources & my freelancing skills & experience to launch this thing. - If and when we've launched, this shouldn't take more than just a few hours per week to maintain. - The work will also be a 50/50 split between the two of us.
However, I can't go into any major details, but he want to split all the incoming money, and not just the profits. - And I'm positive of the fact that he'll just use his cash for whatever things he might find interesting, so he'll literally spend every single cent.. No taxes, no nothing.
But where does that leave me? - I've been thinking of basically hundreds of things already, but I'd love to hear thoughts and ideas from others, which is the reason I'm here.
What would you do? - Would you take the leap or stay away?
Cheers,
hitmeasap
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Lynne
Seriously if it is a case of wanting someone else to do some work, hire someone to do all the work he would have done and pay them an hourly rate if you want to start a business, don't go in with a friend.
Just my instincts based on what you have said here. I don't trust easily and many a friendship has been trashed this way. He has an idea... and that is all.... but you are going to put in everything else. Let him pull off his ideas on his own, you have had plenty of your own that you can work on. I would stay away and my reasons are: [list][*]You are the one investing money[/*][*]You are the one with the skills, the contacts and the experience[/*][*]You will re-invest your money into your business while you seem to believe he won't, meaning you will continue to build the business while he does nothing.[/*][/list] Seriously if it is a case of wanting someone else to do some work, hire someone to do all the work he would have done and pay them an hourly rate if you want to start a business, don't go in with a friend. Just my instincts based on what you have said here. I don't trust easily and many a friendship has been trashed this way. He has an idea... and that is all.... but you are going to put in everything else. Let him pull off his ideas on his own, you have had plenty of your own that you can work on.
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