Joining a startup

[woohoo]

I was offered today to join a startup by my former collegue. And thats all I know and will have a meeting with them in few days.
Because i want to be prepared on the meeting, any idea on what terms should i agree or might be offered? I have no idea even if they are thinking of hiring me on permie basis, but most likely to participate in the business somehow and deliver some product.
Whats common in such scenario, share in business?

even if that was no-go, its worth to know

Thanks

If they offer a share in the business or partnership then be clear on what work is required who is doing it. Also, be clear on continuing responsibility, you don't want your business partners slacking off and you picking up the extra work and all the time they still have the same share of the company. Unless you are planning on slacking off, then don't be clear on anything.

Get any agreement in writing and don't rely on your friendship.

Good luck.

[dx4100]

and don't rely on your friendship.

Very important point

[Rabotnik]

I just did this recently. We all work from home since everything is hosted on AWS, so I just do my bit here and there in the evening or weekends. It seems very promising and we have some big clients trialling us and already have our first paying customer. I'll be gutted if it all goes south, but I'm treating it as a learning experience since I'm learning about AWS along with some Big Data stuff which I can use for future contracts.

[PerfectStorm]

Very important point

I would go as far as to say - don't go into business with anyone you care about seeing again.

Equally - as an employee (or otherwise) - never work with a husband and wife team. Nothing good comes from it and they'll stick together no matter what.