Bake a pie eat and only eat a slice. 👐 Web AddiCT 🇿🇦

What is copy/pasted below is an actual email sent to us by a web development company which I will call eX whY Zee. All the names (except those of the Web AddiCT(s)) have been changed. The websites referred to have been called site1 and site2. Imagine what we’d be like without Innovation? Just AddCT?

It is not possible for us to be Web Addict(s) without Innovation.

This has inspired yet another Innovation which we’ll be rolling out next year 🙂

[copy/paste]
Hi Rafiq, eX and whY,

This is what we discussed earlier today. Rafiq is going to present this to
his partners (When I refer to them collectively, I’m going to call them
Rafiq & Co. for now). If they all accept we will create a Heads of Agreement
to be signed.

This is not an agreement, but a statement of what points an agreement
would/could contain.

Statement of Intent

* We want to give Rafiq (and others) the opportunity to utilize
their entrepreneurial abilities and improve their skills while concurrently
benefiting eX whY Zee.
* We want everyone at eX whY Zee to have 110% buy in into the
eX whY Zee dream. This model is designed to foster that.
* This is on the assumption that together we can create a far
better end product and reach more markets more efficiently and effectively.
* Together we can create powerful models for passive/annuity
income.

Basic Points of Agreement

* eX whY Zee will attain ownership of site1 and site2

* eX whY Zee will cover all future costs for running these
products (server, hardware, software, domains etc).
* eX whY Zee will handle the business side of the new products
(the result of “Innovations”) by setting pricing, selling complimentary
services, doing the accounting and admin, debt collection and contracts.
* eX whY Zee will provide sales and marketing exposure for the
Innovations in all areas where they have a presence.
* Rafiq and Co will receive 15% royalties on site1
& site2
(they will decide on how this revenue is
split amongst them)
* Rafiq and Miguel will come and work at XYZ on XYZ premises
during XYZ working hours
* Rafiq and Miguel will be allocated time to work on XYZ clients
and time to work on “Innovations”
* Rafiq and Miguel will be paid a salary which will be reviewed
quarterly in light of the ratio of time being spent on XYZ Clients and
Innovations.
* Rafiq, Miguel and any other XYZ employee who has an idea for an
accepted Innovation, will earn a royalty on new Innovations created:
* The % will be negotiated per product (depending on how much of
the Innovation was originated by them)
* The sum of both of their % commissions will never be more than
15% and could be less depending on the criteria above
* XYZ has the option to sell the product if and when they deem it
necessary.
* Royalties will be paid if a product is sold (i.e. the same
percentage paid on the sales price).
* XYZ will have the right to stop running a product
that they deem unsuccessful.

Let me know what all of you think.

Thanks,
X

eX Surname
Managing Director
eX whY Zee
[/copy/paste]

What would you have done in a situation like this?
You’ve baked a nice pie. How about you give me the pie seeing that I am also a baker. You can have a slice for all you hard work.

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eX says:

3 January 2006 at 10:16

The purpose of a business is to provide resources, tools and vision for those who are aligned to the business. In return the business fairly rewards each paticipating individual. This is based on the understanding that together we can achieve more than alone.

This is a concept that has worked powerfully throughout time – most recently, read the Google Story. The question is not “how much of the pie can I hang onto?”, but instead “how big can we together make the pie so that my slice is far greater than the whole pie was when I was alone?”

Not opting for partnership is a statement in itself – it says “I can do this better alone” – which may or may not prove to be correct.

Not liking the conditions of an offer are believing that the “slice split” is unfair is fine, but you can’t be disgruntled if you do not at very least propose a counter offer that you feel is reasonable.

What would I have done in a situation like this?
(1) Decided if I could do it better alone
(2) If not – considered the conditions I would have been comfortable with/considered fair to partner.
(3) Counter offered/negotiated more pie for myself.

Good luck in growing your own pie,
Managing Director
eX whY Zee

Rafiq says:

3 January 2006 at 10:48

When you’re only responsible for 33% of a decision, like south african parliament, a two third majority rules (67% to be exact), suggestions can only be made, even though your Intuition, Vision & Entrepeneur skills fed by what has been read||googled tell you otherwise (That makes an AddiCT, AddiCTive 🙂 ) As a minority’s choices are limited to what the majority chooses.

That is also the reason site2 was baked with the same ingredients a different recipe. Too fresh to flip…flop.

I would quote my last encounter with the Magaing Director of eX whY Zee: “Dont burn your bridges”