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There seems to be quite a few people in here looking to join a startup.
We're a mature aerospace impact startup (in Switzerland) pre launch for a new platform to engage and empower passangers in order to accelerate sustainability in aviation. Our product website is www.adaption.me and company website is www.optimaero .ai.
If you're interested in joining us, and you think you have skills that suit our business, you could drop me a speculative application by email at hello@OptimAero.ai.
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Will you get a salary at all? Do they take a salary and is that included in the expenses? Medical, dental, 401k, insurance? A lot of stuff could add to the expenses
Profit margin is about 80% before any salaries for ourselves. We would both take 100k next year. No retirement, insurance isn’t an issue due to spouse. Of the 400k take home before the wages, 50k would be allocated to me as sweat equity.
Any additional work we took on would be split 50/50
It all comes down to how confident you are in the future of the business. If you expect it to take off and can afford to put in the sweat equity for a few years until it does, go for it. My only concern would be about capacity - are you saying revenue is essentially capped at 600k for now?
why doesn’t he just hire staff instead? firms run better when you can leverage staff
All I have to add is that there is a huge shortage of competent CPAs out there. Both of my accountants (one of whom is my best friend from college) have told me this, so I think you have some leverage here.
Couldn't you just do this yourself without a partner?
My guess would be the overhead would be very expensive if OP went solo.