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Hello, All,
I have recently started a company with a partner, and we originally planned on splitting everything 50/50. However, he is now contemplating taking a full-time job in addition to working on our business. We have our website up, but we don't have any clients yet and are still in a very nascent stage.
I believe he is dedicated to our venture, but of course this changes a lot. We are still working out the details of our operating agreement, and so I am looking for some advice about how to divvy up profits.
We are tutors, so we will pay ourselves some portion of the hours we tutor. That's easy, I think, and can stay the same. However, I will be taking over or at least participating in most of his duties as Academic Director in addition to mine as Director (all the non-teaching stuff), and I will be the one doing most of the "behind the scenes" work if he takes this job. What is a fair way to approach the situation, so that I get rewarded for the risks taken and the hours spent on our business while he is working the other job? Is there a nice formula I could plug into the OA that would be fair to both of us?
Thanks for your input.
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