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We're looking for investor's money for our startup. We're 3 co-founders, and our roles are the following:
- One of my partners is a software developer. He's responsible for technical implementation.
- Another partner is dealing with marketing and sales.
- I'm responsible for visionary, product architecture, and business development.
As partners, we have the agreement about splitting the profit. Each of us gets a percentage from the profit. However, if we all spend 100% of our time working on the startup, we'll need to get some salary just to pay bills until we begin making money.
The question is if we can ask from an investor for a salary for ourselves (in addition to the salary for the people we need to hire)? Or is it assumed that we as co-founders don't get any salary, but we get a percentage from the profit instead? What's the accepted practice?
Thanks in advance!