In the process of landing my first contract (hopefully) and have a newbie question?

[BolshieBastard]

This is not my specialism but you have to ask yourself why would a new start up only be talking to a potentially new contractor?

And what comes to my mind is they dont think you'll be savvie in the business world so can probably pull a few tricks on you that an experienced contractor wouldnt fall for.

At the end of the day, if they are expecting \ hoping they can get you to look something over for free but you have to tell them no, nothing is free even to start ups then if they get their nose put out of joint, that's their problem.

Ive read lots of post here from people in this position, new start up and new contractor 'agreeing' to a work situation more experienced contractors wouldnt touch. Then a few months later, the said new contractor finding themselves out of pocket, out of a job and the new start up refuing to negotiate.

Wide berth springs to mind.

[northernladuk]

I don't know if this makes a difference but the CEO was the owner of a company of 450 employees which he recently sold for large sums of money. So he isn't strapped for cash and sees this as a fresh start. So a startup, yes... But by someone with a proven track record in building up a business?

He isn't strapped but that doesn't mean he's going to throw it away. He's bleeding money with no income so he's going to try spend the absolute minimum. He will have a business model in mind and an idea of income he expects and has to balance his dead budget against it.
Don't know if anyone else has had the same experience but small business with the owner involved have been the hardest places I've worked. Everything his HIS money. Every single penny so he won't be will to part with it if he doesn't have to.

I'm giving you the worst picture here and him having a good track record is good but don't get all starry-eyed. Many business started by giants of the industry have still failed. With him on board it's less liked though.

Personally wild horses wouldn't drag me in to a gig like that. There are plenty of normal gig's out there. The last thing you want is a couple of failed businesses in your CV later on down the line.

Sounds to me like you've already convinced yourself so go give it a shot. Fortune favours the brave.

[northernladuk]

Some links worth a read first.

http://forums.contractoruk.com/busin...-start-up.html

Actually sod it... All the links are in here somewhere.

https://www.google.co.uk/search?q=st...spv=1&ie=UTF-8

P.s. have you talked rates yet or are they going to offer you equity?

[heyya99]

I worked for 2 years at a start up. Apart from the lack of organisation, the company ran out of money and I wasn't paid for 3 months (I eventually was). Never again.

[filthy1980]

surprised the CEO is willing to share their IP with you without firstly asking you to sign an NDA

my advise would be that if you think the business has legs as a start up and you like the look of their IP, negotiate some equity and keep your perm job, work on the startup in your own time,

best not to throw all your eggs into a startup, look at it as an investment, your skills and time for potential larger financial rewards later down the line (i.e. if they're sold funded)

[oliverson]

This is the kind of thing you do after you've become disillusioned with contracting, have a large warchest and are looking for something a bit different. As a newbie looking to get in on the contracting scene, I'd look elsewhere.

[BlasterBates]

90% of startups fail.

90% Of Startups Fail: Here's What You Need To Know About The 10%

If it doesn't work out you lose at least one months pay, if it does you won't have a life.

[psychocandy]

Deffo taking the piss. Wants something for free. Chances are this will never be a payer....

Remember this guy might be successful. Reason probably is because hes good at getting things for free and not paying for them.

I'm thinking this guy is smelling new contractor and seeing what he can get.

[Snarf]

Ill bet they offer to pay you in stock too.
If they cant afford to pay you for all of your time you're going to run into issues further down the line.

[DeathRay1977]

Some links worth a read first.

http://forums.contractoruk.com/busin...-start-up.html

Actually sod it... All the links are in here somewhere.

https://www.google.co.uk/search?q=st...spv=1&ie=UTF-8

P.s. have you talked rates yet or are they going to offer you equity?

As an update, I had a second interview with them last week. This time with the CEO. We have a verbal agreement on a daily rate which is a fair one. He said he will talk to his CTO who is based in New Delhi. I get an email from CTO asking me to attend an overview of their product over Skype this week. His actual words were "This will help you to understand the product better and will be good for all of us to decide next step in terms of your engagement". So he makes it sound like some sort of longer techie interview. I replied to him saying I would be interested in seeing his presentation but I don't get home from work until 6pm and will be available from 6:30 onwards. He has arranged it for 7:15 on Tuesday. Which is 11:45 pm in New Delhi. I am going to play it very cagey. Enough to sound like I know what I am talking about without giving them too much freebie information. I still get the feeling it will all fall through at any moment. You know what they say... If it looks to good to be true then it probably is.