- Expectations by each party. What will you be providing, what will the business development consultant be providing.
- Compensation. How will he/she be compensated. Hourly, Salary, plus commission, only commission.
But I think with any business arrangement being clear on the expectations of what is expected of everyone is key. What our the overall goals, how will you measure the success towards those, and how will you know if it's a good fit 1 month, 6 month, 1 year down the road. Setting up how the relationship success will be measured is always helpful so you aren't just guessing or saying "yeah I guess this is kind of working" ... there should be clear expectations.
What's fair is not up for me to decide. What's fair is what each of you find acceptable to do business together.