As some of you know, I have a product I'm developing which should be complete sometime this fall. I am hiring someone to handle my web design, marketing, internet advertising, social networking and web based sales. They agreed to an incentive based contract in which they would get 1% of gross sales and a sliding scale for web based sales topping out at 5%(that's only 5% of web based and not more than 1% of gross sales). Of course we will pay him to develop the site but it will be at absolute minimum costs. Since we gave him an incentive based contract, it's in his best interest to build the website to the best of his ability and I completely trust that he will.
I have a few questions that I've been thinking about the last few weeks.
1)Since he is building the site and doing all online sales, what happens if he decides to walk away from the company and leave us in the dark? Would it be tough to hire someone else to pick up where he left off? I am going to have him teach me as much as possible about running the site just in case this happens but what if I don't learn fast enough?
2)What if we get into a disagreement and he decides to sabotage me by messing with the site, messing with our accounts, screwing over some of our orders or customers? How can I prevent that from happening? And how am i protected legally?
Basically I want to know what he can do and can't do and what can I do to protect myself and my company?
I'm going to my lawyer next week to have him draw up a contract. Hopefully he can cover everything to protect me. I still would like to know how to handle things just in case something did happen.
Speed+ for anyone that can help me out and give me some really good answers. Thanks in advance!
P.S. - Keep in mind that he's a kid. He's only 22 and maybe that's why I'm so worried.
I have a few questions that I've been thinking about the last few weeks.
1)Since he is building the site and doing all online sales, what happens if he decides to walk away from the company and leave us in the dark? Would it be tough to hire someone else to pick up where he left off? I am going to have him teach me as much as possible about running the site just in case this happens but what if I don't learn fast enough?
2)What if we get into a disagreement and he decides to sabotage me by messing with the site, messing with our accounts, screwing over some of our orders or customers? How can I prevent that from happening? And how am i protected legally?
Basically I want to know what he can do and can't do and what can I do to protect myself and my company?
I'm going to my lawyer next week to have him draw up a contract. Hopefully he can cover everything to protect me. I still would like to know how to handle things just in case something did happen.
Speed+ for anyone that can help me out and give me some really good answers. Thanks in advance!
P.S. - Keep in mind that he's a kid. He's only 22 and maybe that's why I'm so worried.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
