I've been making films for about 3 yrs now, getting the odd payed gig, but not necessarily living off the income. It's all been informal, word of mouth, cash work.
I've decided to take the plunge, and commit myself to designing and creating a brand for marketing. However, this is an entire world that I've never been in before. Therefore I have a hell of a lot to learn.
I just had a meeting with a trustworthy acquaintance of mine who is fresh out of a prestigious business school, and she loves my work. I informally agreed to go into business as '50/50' with her at our meeting, but now Im having doubts. She will basically be someone who will guide me in the 'right' direction, and be putting the effort into the sales and marketing aspect as well. Essentially, I like the idea, because it lets me focus more on making videos than selling.
I also have approximately $10,000 of equipment that I have been using for my film making.
Question being: What financial terms should I develop our relationship on from a business standpoint. I don't want to lose my assets and investments. (ie my equipment and whatever else you could think of that I can't)
What do I have to gain by making her a part owner. What should a person with her role in a company be compensated if she wasn't a part owner?
Thats about it. Any information would be greatly appreciated. This is very exciting, but of course, I don't want to make any decisions now that will burn me later on.
Thanks
I've decided to take the plunge, and commit myself to designing and creating a brand for marketing. However, this is an entire world that I've never been in before. Therefore I have a hell of a lot to learn.
I just had a meeting with a trustworthy acquaintance of mine who is fresh out of a prestigious business school, and she loves my work. I informally agreed to go into business as '50/50' with her at our meeting, but now Im having doubts. She will basically be someone who will guide me in the 'right' direction, and be putting the effort into the sales and marketing aspect as well. Essentially, I like the idea, because it lets me focus more on making videos than selling.
I also have approximately $10,000 of equipment that I have been using for my film making.
Question being: What financial terms should I develop our relationship on from a business standpoint. I don't want to lose my assets and investments. (ie my equipment and whatever else you could think of that I can't)
What do I have to gain by making her a part owner. What should a person with her role in a company be compensated if she wasn't a part owner?
Thats about it. Any information would be greatly appreciated. This is very exciting, but of course, I don't want to make any decisions now that will burn me later on.
Thanks