I call this side gig, but I already validated the idea and I know who needs the product, I also have some connections who are decision makers and in genuine need for a product I'm about to build.
I'm coding myself, so I will be contributing (though this colleague is more skilled than myself).
What would be the fairest distribution of shares? In the past I had some bad experiences where decisions like this was left till the end causing tensions. This time I would like to settle everything upfront so everything is fair.
Does validated idea count like something valuable enough to translate into more shares than colleague? Or should I just do straight 50/50? I was reading lots of stories where people advice against 50/50 to avoid blockages in making decisions.
I was thinking about decision power and share in financial matters. I don't mind to do 50/50 when it comes to financial stuff, though based on above thoughts I think it's fair to talk and negotiate about decision power.
Or maybe I'm totally wrong and should not even think about these matters at this stage?
If this is a smaller venture and you don't see this developing into a fulltime job, I would say give them a cut of the profits without ownership (like some company's yearly profit sharing). This gives them incentive in the company performance but you retain the final say.