Questions about partnering
I have been wanting to start an Amazon business in private labeling and hope to establish a long term business. However, I do not have any experience and low funding, and I know working with a team is better than working alone.
Recently, I reconnected with a colleague who I worked before. He is already started selling on Amazon but still at an early stage. He has a partner and asked if I wanted to join. No salary though, since they aren’t profitable yet, but he promised to pay once the profit comes in. I haven’t prove my value yet, so it’s hard for me to negotiate for equity now.
My colleague and his partner are both investing their money and contributing labor to the business, but I only contribute labor without any salary. My questions are :
- What is the right equity structure for us?
- When should I request for equity negotiation? Now? Before product launch? After product launch?
Any advice would be greatly appreciated!
Thank you all!