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Hi, I need to put together a team for an idea I have. I have been in communication with two people but they aren't forthcoming due to the fact that I am not offering payment in any way since I do not have funding yet. What is the accepted thing to get people to come aboard? To be honest, I do not wish to offer percentages of the company at this time in lieu of payment as I can not know yet if they will be partners or just employees or neither. It depends on how much value that can contribute. So the question is, how to convince them to get involved and see how things go? What would I tell them now (and sign) that if things move forward, they'll get what I promise them? Any thoughts?

  • JA

    Justin Adelson

    over 2 years ago #

    Let's be honest, no one is going to work for a company without getting something out of it. If you are trying to get free-work, you could always try hiring an intern but you'll get them for a limited time and/or a part-time basis. Also, you need to convince them that it is worth their time to work with/for you (see: something in it for them).

    In my opinion, if you did find some great team members that would work for equity, you could give them a percentage of the company with a one-year cliff so they get a piece of the company but they only earn it if they are the right fit.