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Partnership: What is it worth?
MrSoloInvntr
subscriber Posts: 7
Hello again,
I want to know who has been involved in acquiring a partner in business. Has anyone partnered with someonw who had the ability to take your idea to the next level? I may partner with someone who has been very successful in the past with their products and who is interested what I have to offer. I think partnering is a great way to go especially if you dont have all the chips at your disposal like they do. How did you determine what their role in your idea is worth? Did you give up equity and if so how much? I know there are many variables in this but I am trying to get a ballpark figure of where to head with this. Thinking ahead. Thanks for any input on this topic.
I want to know who has been involved in acquiring a partner in business. Has anyone partnered with someonw who had the ability to take your idea to the next level? I may partner with someone who has been very successful in the past with their products and who is interested what I have to offer. I think partnering is a great way to go especially if you dont have all the chips at your disposal like they do. How did you determine what their role in your idea is worth? Did you give up equity and if so how much? I know there are many variables in this but I am trying to get a ballpark figure of where to head with this. Thinking ahead. Thanks for any input on this topic.
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Comments
My brother and I are involved in business much in the same way that you are. So I understand where you are coming from.
Partnerships come in many forms. Some of them involve working with a manufacturer. Some are born for access to sorely needed capital and some have the expertise that you are seeking. I`m over simplifying it of course, but in every case you are paying for something in exchange for something. There are many ways to pay back people for their services. Loans, Equity, Royalties, etc.
It`s up to you to decide the depth and value of the partnership and what it does for your business and if you feel comfortable with the difficulties that often go with it.
Good luck with your product by the way. Looking forward to hearing how your debut goes.
~Eric