Daniel Poston discusses how he structured an equity split to merge an external development team into Interface.
0:00 / 0:34exact quote · 34.9s
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“Slightly modified slicing pie model where you measure how much you put into the business in terms of like hours and dollars. And then you convert that to pie slices where every hour you put in, you, it gets a two X multiplier and every dollar that gets put in as a four X multiplier. And that, Kind of normalizes everything. And then you can, it's a great fair way of distributing equity.”
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More from Daniel Poston
Opinion
Follow Up Boss is the best real estate CRM with no close second
“Our primary product is an integration between real estate CRM follow a boss which is, it's the best real estate CRM. It's really, and there's really not like a close second.”
Daniel PostonFeb 9, 2022▶ 2:46MVP Power: Found Tech Co-Founder on Upwork, $0 to $180,000 in under 12 months
Insight
Tracking sweat equity in non-dollar pie slices avoids tax consequences
“And you don't want to call it 670,000 dollars because then that has tax consequences. So it's, you know, it's not a dollar valuation. It's a way of figuring out who has what equity.”
Daniel PostonFeb 9, 2022▶ 12:22MVP Power: Found Tech Co-Founder on Upwork, $0 to $180,000 in under 12 months
AssertionNot checkable as stated
Interface generates between $15,000 and $20,000 in monthly revenue
“We're probably 1515 to 20,000.”
Daniel PostonFeb 9, 2022▶ 6:15MVP Power: Found Tech Co-Founder on Upwork, $0 to $180,000 in under 12 months
Disclosure
Interface is acquihiring an Indian engineering team for 15% equity
“We actually are in the process of acquiring a team in India. They built a AI chat bot and didn't have great product market fit. I need the developers. And so we're in the process of merging companies right now. And so they're getting about 15% of the business.”
Daniel PostonFeb 9, 2022▶ 7:01MVP Power: Found Tech Co-Founder on Upwork, $0 to $180,000 in under 12 months
Disclosure
Poston originally hired his eventual technical co-founder as his assistant
“I was working for a real estate team. I was a chief data officer and hired him as my assistant.”
Daniel PostonFeb 9, 2022▶ 14:47MVP Power: Found Tech Co-Founder on Upwork, $0 to $180,000 in under 12 months
AssertionNot checkable as stated
Interface has reached approximately 165 customer teams on its platform
“We just passed one 50. I think we're one 65 ish.”
Daniel PostonFeb 9, 2022▶ 5:24MVP Power: Found Tech Co-Founder on Upwork, $0 to $180,000 in under 12 months
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