Find us elsewhere
Join Now Member Login

LLC: Incentives for Engineers

 
New Topic
Post Reply
Follow Topic
Page of 1
  • Author
  • Message
 
abc1111

posts: 88

Jun 06, 2008 3:50 PM ET    Quote  Report Abuse
Points: 0   Vote
My company is a LLC and has about 5 engineers working on it for residual amount of hours a week, like 1 or 2 hours a week.
 
We have much most expenses thant revenue in the company at this point, therefore I cannot commit to provide a salary.
 
As an LLC we do not have stock-option plans. I do not plan to really share the companies with engineers.
 
- What form of incentive can I provide?
- Can I simply ask them to add the hours they work on next week, and commit to payment when the company reach certain milestones?
- Any other ideas?
- Where can I find forms online for such contract?
 
Any help is greatly appreciated!
 
 
Jun 06, 2008 8:20 PM ET    Quote  Report Abuse
Points: 0   Vote
What keeps you from sharing the wealth that you could generate if you would give these engineers a greater incentive? would you be willing to work for nothing with no guarantee that you would ever be paid? How much harder would you work for something if you knew you had a stock in it. That you could make this a cash cow for everyone.
I would re-evaluate your position. You don`t have to give your business away but 51% of $1 million is massively greater than 100% of $100 thousand. Learn to share. Learn how to build incentives. You will become wealthy much quicker.
don`t go into this blindly. Seek advice from others who have already gone down the road before you. Know where the bumps are. Learn how to get off the back roads and onto the superhighway to success.


-------------------------

Rob Adams
CEO Space Northeast Regional Director
www.ceospace.net
www.ceospace.biz
www.ceospacenortheast.com
302-698-1709
Page of 1
Post Reply
 
.
Advertisement

Keep the Community Clean!

  • StartupNation forums should be used as a platform to learn, educate others, share stories, tips & tricks and to provide constructive feedback.
  • Please do not use the Forums for advertising & blatant self-promotion.
  • Please be respectful to other members and refrain from personal attacks and vulgar language.
  • StartupNation reserves the right to delete any message, reply, and/or member who violates our terms of use.
Read full terms of use
Advertisement
Advertisement
Advertisement
Advertisement