Money February 13, 2020

Experience With Equity Based Pay?

Michael Bis @bismich

Hello Indie Hackers. We are hiring a professional for equity based pay - the only problem is that we don't have enough experience with that. Please share your expertise or experience - anything helpful is welcome ( before we spend $$$ hiring an equity lawyer)

Thanks

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    May want to give this a glance -- https://slicingpie.com/ -- they take a "fairness" approach by doing dynamic equity based on contributions over time. Book covers onboarding new people, handling existing members, abrupt exists / freezes, etc.

    1. 1

      I've actually just ordered a copy of Slicing Pie: Funding Your Company Without Funds on Amazon, thanks for the tip. Definitely need to read more about this kind of stuff

    2. 1

      Thank you @joshtronic - going through the content right now

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    Are you offering financial compensation as well, or 100% equity remuneration?

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      @kylegawley for this specific role, it is 100% equity based pay ( with Direct return on each Campaign)

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    Hey Michael, could you give more details about the hire? Is it full-time/part-time/contract? Do you consider them part of the team, or is it a one-off?

    I've done this kind of deal, and I'd say the main thing is to make sure it vests.

    1. 1

      We are looking for a Lead Marketing Strategist - Part time is accepted as we are still starting up but full time will be required as the number of campaigns grows. I would like them to be part of the team- we are a growth hacking agency, this role is crucial.

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        I'd find slicing pie to be a difficult model to navigate if they're not really a co-founder. With a contractor it's probably easier to give them a clear expectation and vest the shares.

        For instance: 1% equity vesting 0.25% per quarter. Or being conditional to milestones.

        Note that 1% can be a lot, or not enough at all depending on your stage. It all depends on how much traction you already have.

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          @ryanpitterson Thanks - I agree, contractors are very easy to deal with specially through Quickbook. However, they also expect to be paid right away - not willing to co-sweat

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