I have an idea I'd like to implement. I've done a bit of work to get together a proof of concept and it works pretty well. I think the potential is great, so much so that I've become a bit obsessed with making it happen. The only problem is that I'm heading off to business school full-time next year and don't want to commit all that much time to this endeavor for that period. But the obsession persists and I've been thinking about how I can get it off the ground.
Obviously I need to get others on board and have a tech guy in mind. I can't hire him since I have no money to invest (b-school sucking me dry) so I'm thinking of offering him equity. Thing is, I can only foresee him being involved until I finish b-school after which his involvement would drop off significantly - I'm a tech guy myself and I'd be able to take over from him. He's basically assisting me while I'm at school.
Once the tech has got to the point where its close to market ready (after the first year) I'd like to involve a marketing and branding guy to market the hell out of the app (yes it's another app). I don't want to get him in earlier because I think he'll just be sitting on his hands until the tech is closer to market ready.
So I'm looking at a timeline as follows:
- Part-time from now to year 1 and
- Full time from then on.
Tech guy is involved:
- From now to year 1.
- From year 1 onwards.
And my question is: Considering this staggered involvement approach, how and when do we allocate the shares?
Tech guy is sort of a founder but walks after a year. Often the forums suggest splitting equity 50/50 for founders so do I take the 50% he would've got and divide it by the amount of years I expect we would've run before selling or something? The way I see it, we should be 50 / 50 at the end of the first year but his percentage should decrease with each subsequent year when he is gone.
Marketing guy comes late to the party. Should we just give him shares and dilute ours?