Return on an Investment?

Discussion in 'Growing and Managing a Business' started by MolehillMountain, May 18, 2010.

  1. MolehillMountain

    MolehillMountain
    uix_expand uix_collapse
    New Member

    Joined:
    May 18, 2010
    Messages:
    2
    Likes Received:
    0
    I have a few friends who started their own video production company about a year ago. They asked for my help with a few projects, and paid me for them, but far, FAR under the rate I would expect for the nature of work I provided, as we had a personal relationship, and frankly, I needed what little money they could offer. Now that they are past that start-up money pit, I want a way to collect on that time I invested. Is there any option for me, and if so, what is the best way to go about this?
     
  2. Fergal

    Fergal
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Nov 18, 2007
    Messages:
    10,578
    Likes Received:
    1,163
    Welcome to our business forum MolehillMountain. From what you say, it sounds like any payment you receive now would be solely at the goodwill of your friends. You agreed to help them out and accepted payment for the work you did - I don't believe that they would be under any obligation to pay you more now.

    Maybe they could find some kind of advisory or consultancy role for you in their business now. This would help them and also provide you with a reward for the work you did in the past.
     
  3. seanstevens

    seanstevens
    uix_expand uix_collapse
    Member

    Joined:
    Jul 27, 2009
    Messages:
    638
    Likes Received:
    2
    I would say that if you accepted cash from them at the time (and I will assume there is no written agreement about receiving more cash) then there is not much you can do..

    If they are friends have a chat with them about it, the worst they can say is no.
     
  4. MolehillMountain

    MolehillMountain
    uix_expand uix_collapse
    New Member

    Joined:
    May 18, 2010
    Messages:
    2
    Likes Received:
    0
    ...more advice?

    Thanks. I kinda figured I could end up with nothing, just wanted to see if there was a good way to bring up some sort of agreement, some kind of profit sharing, or just to ask up front. Answer: Bite the bullet see what they say.
     
  5. Fergal

    Fergal
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Nov 18, 2007
    Messages:
    10,578
    Likes Received:
    1,163
    Good luck with it MolehillMountain and please post back to let us know how it works out.
     

Share This Page