any ceo's on this board?

[TechBoyJK]

Originally posted by: SagaLore

Originally posted by: K1052
Why not hire some competent subordinates and delegate some of your work to others instead?

Yea that's kind of what the CEO is supposed to do.

But if you think the business can benefit from another CEO while you still retain majority ownership, I think that's a smart move.

You don't happen to need a Chief Information Security Officer for your company, do you?

What are your credentials?

Will you sign an NDA?

I already have a Chief Technology Officer who has a Phd in math and owns a very large web hosting company. We were planning on just utilizing his company's security expert.

 

[SagaLore]

Originally posted by: TechBoyJK

Originally posted by: K1052
Maybe create a different type of stock for him with regards to dividends (based on performance) and liquidation in the event of his resignation/termination? That way he has his equity and incentive to make the company prosper while you remain protected.

We already have two classes, Class A Voting and Class B non-voting. Class B has first rights on dividends.

I'm interested in a way to revoke his equity if he fails to meet performance requirements.

Maybe you could design the contract in a way that he does not have permanent ownership of equity until after 18 months of employment. If he doesn't perform, he'll either quit or you'll vote him out before then. If he's there for more than a year and half, then he's got his equity retro to the beginning.

 

[Mo0o]

Hire a consultant?

 

[TechBoyJK]

Originally posted by: SagaLore

Originally posted by: TechBoyJK

Originally posted by: K1052
Maybe create a different type of stock for him with regards to dividends (based on performance) and liquidation in the event of his resignation/termination? That way he has his equity and incentive to make the company prosper while you remain protected.

We already have two classes, Class A Voting and Class B non-voting. Class B has first rights on dividends.

I'm interested in a way to revoke his equity if he fails to meet performance requirements.

Maybe you could design the contract in a way that he does not have permanent ownership of equity until after 18 months of employment. If he doesn't perform, he'll either quit or you'll vote him out before then. If he's there for more than a year and half, then he's got his equity retro to the beginning.

thats a good idea. Whats cool is the investor is going to loan me the investment money, so it will appear on the company books as if I made the investment, therefore I can retain voting control. I plan to split the profits of the sale with the investor. What sucks is the for about a day I'm going to be rich, then its all going to come out of my account and go into the company's account, in which I will be poor again.....

 

[SagaLore]

Originally posted by: TechBoyJK

Originally posted by: SagaLore

Originally posted by: K1052
Why not hire some competent subordinates and delegate some of your work to others instead?

Yea that's kind of what the CEO is supposed to do.

But if you think the business can benefit from another CEO while you still retain majority ownership, I think that's a smart move.

You don't happen to need a Chief Information Security Officer for your company, do you?

What are your credentials?

Will you sign an NDA?

I already have a Chief Technology Officer who has a Phd in math and owns a very large web hosting company. We were planning on just utilizing his company's security expert.

Oh I see. I guess it depends on what your company does, whether or not his web security technician (there is no such thing as an expert) can apply his skillset to your benefit.

I don't have a PhD, but I do have an Associate's in Networking and Technical Support, and training (not certified yet) in Security+, SCNP, Exchange D&D, and CCNA. I also own the site listed in my sig.

 

[maziwanka]

whats funny is that youre posting this question as a "CEO" on ATOT.

what's even more hilarious is that ppl actually believe you.

edit: if this is a legitimate inquiry, why are you asking ATOT this stuff. honestly, if i was the CEO that youre looking to hire, i would be shocked to see something like this posted on the internet

 

[TechBoyJK]

Originally posted by: SagaLore

Originally posted by: TechBoyJK

Originally posted by: SagaLore

Originally posted by: K1052
Why not hire some competent subordinates and delegate some of your work to others instead?

Yea that's kind of what the CEO is supposed to do.

But if you think the business can benefit from another CEO while you still retain majority ownership, I think that's a smart move.

You don't happen to need a Chief Information Security Officer for your company, do you?

What are your credentials?

Will you sign an NDA?

I already have a Chief Technology Officer who has a Phd in math and owns a very large web hosting company. We were planning on just utilizing his company's security expert.

Oh I see. I guess it depends on what your company does, whether or not his web security technician (there is no such thing as an expert) can apply his skillset to your benefit.

I don't have a PhD, but I do have an Associate's in Networking and Technical Support, and training (not certified yet) in Security+, SCNP, Exchange D&D, and CCNA. I also own the site listed in my sig.

I actually plan to have "satellite consultants" for different aspects of the technology involved. Perhaps you may be interested in keeping track of a certain aspect of the technology and maybe giving a monthly breifing on what you think we should concerned with.

 

[SagaLore]

Originally posted by: TechBoyJK

Originally posted by: SagaLore

Originally posted by: TechBoyJK
I'm interested in a way to revoke his equity if he fails to meet performance requirements.

Maybe you could design the contract in a way that he does not have permanent ownership of equity until after 18 months of employment. If he doesn't perform, he'll either quit or you'll vote him out before then. If he's there for more than a year and half, then he's got his equity retro to the beginning.

thats a good idea. Whats cool is the investor is going to loan me the investment money, so it will appear on the company books as if I made the investment, therefore I can retain voting control. I plan to split the profits of the sale with the investor. What sucks is the for about a day I'm going to be rich, then its all going to come out of my account and go into the company's account, in which I will be poor again.....

Yes but then you don't have to pay taxes, and any money you have to withdraw out of the company will be an expense (afaik). But I don't know what kind of corp you're running or what your locale is so maybe I should just shut up.

 

[TechBoyJK]

Originally posted by: maziwanka
whats funny is that youre posting this question as a "CEO" on ATOT.

what's even more hilarious is that ppl actually believe you.

Whats even funnier to me is that you are kinda ignorant to the truth. I am the CEO of the company since I founded it and I run it, but as I admitted, my skillset is starting to fall short considering what is coming over the horizon.

I don't care if people actually believe me, because I have more than enough paperwork, affidavits, etc. to prove my case.

 

[TechBoyJK]

Originally posted by: SagaLore

Originally posted by: TechBoyJK

Originally posted by: SagaLore

Originally posted by: TechBoyJK
I'm interested in a way to revoke his equity if he fails to meet performance requirements.

Maybe you could design the contract in a way that he does not have permanent ownership of equity until after 18 months of employment. If he doesn't perform, he'll either quit or you'll vote him out before then. If he's there for more than a year and half, then he's got his equity retro to the beginning.

thats a good idea. Whats cool is the investor is going to loan me the investment money, so it will appear on the company books as if I made the investment, therefore I can retain voting control. I plan to split the profits of the sale with the investor. What sucks is the for about a day I'm going to be rich, then its all going to come out of my account and go into the company's account, in which I will be poor again.....

Yes but then you don't have to pay taxes, and any money you have to withdraw out of the company will be an expense (afaik). But I don't know what kind of corp you're running or what your locale is so maybe I should just shut up.

Thats what me and the investor had planned, but I have a meeting with another current shareholder who just purchased my prospect investor's golf course from him, and he knows how to make these deals much better than I do. I'm trying to gather as many ideas as I can before the actual agreement is hashed out. Any littlest bit of extra verbage could save me thousands.

 

[maziwanka]

Originally posted by: TechBoyJK

Originally posted by: maziwanka
whats funny is that youre posting this question as a "CEO" on ATOT.

what's even more hilarious is that ppl actually believe you.

Whats even funnier to me is that you are kinda ignorant to the truth. I am the CEO of the company since I founded it and I run it, but as I admitted, my skillset is starting to fall short considering what is coming over the horizon.

I don't care if people actually believe me, because I have more than enough paperwork, affidavits, etc. to prove my case.

the reason i doubted you is that this is a situation that will not be handled well by the ATOT community. its actually quite ridiculous that you're looking for advice here.

edit: lawyers and other ppl in the field would be your best bet

 

[SagaLore]

Originally posted by: maziwanka
whats funny is that youre posting this question as a "CEO" on ATOT.

what's even more hilarious is that ppl actually believe you.

A CEO is a Chief Executive Officer of a corporation. A 3 person corporation selling hotdogs at ball games can have a CEO. He never claimed he was CEO of IBM or Walmart. Startup companies that are corps do need a delegated or elected CEO. I think he chose to go with a commerical corp rather than an s-corp or partnership/sole-propietorship because it protects him from being liable in case of bankruptcy which he stated has already been in once, and allows fast growth through the sale of shares. His ultimate goal is to sell this off to a larger firm so his setup gives him a professional look on paper and allows him to still own a piece of the business after he sells it.

 

[TechBoyJK]

Originally posted by: maziwanka

Originally posted by: TechBoyJK

Originally posted by: maziwanka
whats funny is that youre posting this question as a "CEO" on ATOT.

what's even more hilarious is that ppl actually believe you.

Whats even funnier to me is that you are kinda ignorant to the truth. I am the CEO of the company since I founded it and I run it, but as I admitted, my skillset is starting to fall short considering what is coming over the horizon.

I don't care if people actually believe me, because I have more than enough paperwork, affidavits, etc. to prove my case.

the reason i doubted you is that this is a situation that will not be handled well by the ATOT community. its actually quite ridiculous that you're looking for advice here.

edit: lawyers and other ppl in the field would be your best bet

There are many technical people on this forum that I am sure have seen performance based agreements and have 2 cents worth throwing in.

This is not my only resource, but one I appreciate.

 

[TechBoyJK]

Originally posted by: SagaLore

Originally posted by: maziwanka
whats funny is that youre posting this question as a "CEO" on ATOT.

what's even more hilarious is that ppl actually believe you.

A CEO is a Chief Executive Officer of a corporation. A 3 person corporation selling hotdogs at ball games can have a CEO. He never claimed he was CEO of IBM or Walmart. Startup companies that are corps do need a delegated or elected CEO. I think he chose to go with a commerical corp rather than an s-corp or partnership/sole-propietorship because it protects him from being liable in case of bankruptcy which he stated has already been in once, and allows fast growth through the sale of shares. His ultimate goal is to sell this off to a larger firm so his setup gives him a professional look on paper and allows him to still own a piece of the business after he sells it.

yep

 

[SagaLore]

Originally posted by: maziwanka
the reason i doubted you is that this is a situation that will not be handled well by the ATOT community. its actually quite ridiculous that you're looking for advice here.

edit: lawyers and other ppl in the field would be your best bet

Since you're here on ATOT anyway, I would suggest sending CPA a pm. He's an accountant.

 

[TechBoyJK]

Originally posted by: SagaLore

Originally posted by: maziwanka
the reason i doubted you is that this is a situation that will not be handled well by the ATOT community. its actually quite ridiculous that you're looking for advice here.

edit: lawyers and other ppl in the field would be your best bet

Since you're here on ATOT anyway, I would suggest sending CPA a pm. He's an accountant.

hey, good idea. I probably would have missed that on my own. thanks.

yea, I'm actually the sole elected director, secretary, treasurer, president, etc. And yes, as petty as it sounds, I actually had to elect myself and put it on paper, had it notarized, etc.

 

[K1052]

Originally posted by: SagaLore

Originally posted by: K1052
Why not hire some competent subordinates and delegate some of your work to others instead?

Yea that's kind of what the CEO is supposed to do.

But if you think the business can benefit from another CEO while you still retain majority ownership, I think that's a smart move.

You don't happen to need a Chief Information Security Officer for your company, do you?

I know that, but I have seen people hold on to too many responsibilities as a company grows and it can consume them the point where it negatively affects the business.

I didn't know if that was the case here or not.

 

[SagaLore]

Originally posted by: TechBoyJK
I actually plan to have "satellite consultants" for different aspects of the technology involved. Perhaps you may be interested in keeping track of a certain aspect of the technology and maybe giving a monthly breifing on what you think we should concerned with.

If you're seriously interested in consulting something like that out, I will need to know what your company does and where it is. PM me and I can give you my msn and email.

 

[TechBoyJK]

Originally posted by: K1052

Originally posted by: SagaLore

Originally posted by: K1052
Why not hire some competent subordinates and delegate some of your work to others instead?

Yea that's kind of what the CEO is supposed to do.

But if you think the business can benefit from another CEO while you still retain majority ownership, I think that's a smart move.

You don't happen to need a Chief Information Security Officer for your company, do you?

I know that, but I have seen people hold on to too many responsibilities as a company grows and it can consume them the point where it negatively affects the business.

I didn't know if that was the case here or not.

lol, read some of my other posts if you want to see what kind of problems I am having........ and you will see exactly why its time for me to step down. I have so much on the line right now that I had to let my personal life just fade away in flames. After the sale of the company I probably won't touch a computer for 10 years. BTW, I'm really stressed because the company basically has no money and I'm borrowing here and there to keep bills paid. I'm also not working any other job so I can finish the development of the site. Except of course the contract I have to physically manage the server farm hosting all of the most important government website's for one of the US's most important allies in the war on terror. So yea, OSAMA wants my head, and my contact in the foreign country's laptop just got stolen with all my contact info in it.

I am responsible right now for

#1 Company solvency
#2 Company corporate management
#3 Company Accounting and Reporting
#4 Day to Day operations
#5 HR
#6 Finishing a comprehensive web site already consisting of over 300,000 lines of solid, well thought out code.
#7 database management
#8 design and management of the server farm hosting the website
#9 network management
#10 everything else.....

also, investor management, which is like dealing with vultures picking at your flesh. They don't care how much I suffer as long as I give them what they want.

 

[K1052]

Originally posted by: TechBoyJK

Originally posted by: K1052

Originally posted by: SagaLore

Originally posted by: K1052
Why not hire some competent subordinates and delegate some of your work to others instead?

Yea that's kind of what the CEO is supposed to do.

But if you think the business can benefit from another CEO while you still retain majority ownership, I think that's a smart move.

You don't happen to need a Chief Information Security Officer for your company, do you?

I know that, but I have seen people hold on to too many responsibilities as a company grows and it can consume them the point where it negatively affects the business.

I didn't know if that was the case here or not.

lol, read some of my other posts if you want to see what kind of problems I am having........ and you will see exactly why its time for me to step down.

I am responsible right now for

#1 Company solvency
#2 Company corporate management
#3 Company Accounting and Reporting
#4 Day to Day operations
#5 HR
#6 Finishing a comprehensive web site already consisting of over 300,000 lines of solid, well thought out code.
#7 database management
#8 design and management of the server farm hosting the website
#9 network management
#10 everything else.....

And that would be what I call "too many responsibilities" for a single person to manage well...

 

[TechBoyJK]

Originally posted by: K1052

Originally posted by: TechBoyJK

Originally posted by: K1052

Originally posted by: SagaLore

Originally posted by: K1052
Why not hire some competent subordinates and delegate some of your work to others instead?

Yea that's kind of what the CEO is supposed to do.

But if you think the business can benefit from another CEO while you still retain majority ownership, I think that's a smart move.

You don't happen to need a Chief Information Security Officer for your company, do you?

I know that, but I have seen people hold on to too many responsibilities as a company grows and it can consume them the point where it negatively affects the business.

I didn't know if that was the case here or not.

lol, read some of my other posts if you want to see what kind of problems I am having........ and you will see exactly why its time for me to step down.

I am responsible right now for

#1 Company solvency
#2 Company corporate management
#3 Company Accounting and Reporting
#4 Day to Day operations
#5 HR
#6 Finishing a comprehensive web site already consisting of over 300,000 lines of solid, well thought out code.
#7 database management
#8 design and management of the server farm hosting the website
#9 network management
#10 everything else.....

And that would be what I call "too many responsibilities" for a single person to manage well...

read my additions, its even worse. I'm also carrying a large amount of debt carried from the bankruptcy from a few years ago. I swear my mind is like a computer. It just keeps processing business stuff and I don't think about my personal life.

 

[SagaLore]

Originally posted by: TechBoyJK

Originally posted by: K1052
And that would be what I call "too many responsibilities" for a single person to manage well...

read my additions, its even worse. I'm also carrying a large amount of debt carried from the bankruptcy from a few years ago. I swear my mind is like a computer. It just keeps processing business stuff and I don't think about my personal life.

When that happens you lose your creativity and proactiveness and go into a sterile reactive mode. You should get yourself a case of michelob ultra, and watch the entire Lord of the Rings trilogy extended version in one day. Then the next day visit a gym and work out for an hour, then float around in a pool for a few hours. Then the next day visit a spa, get a 1 1/5 hour massage, and that night go to a Japanese restaurant and get some terriyaki steak, dragon rolls, miso soup. I recommend one of their plum wine / saki cocktails. Then go to bed early, wake up early and start your day.

 

[lightpants]

he initially asked for $40K per month. I had to use my salesman skills to negotiate that down from $40K and 25% to $10K and 15%.

So he went from wanting $480,000.00 a year and 25% of the company, to $120,000.00 a year and 15% of the company.

I am officially calling shens

 

[SagaLore]

Originally posted by: lightpants
he initially asked for $40K per month. I had to use my salesman skills to negotiate that down from $40K and 25% to $10K and 15%.

So he went from wanting $480,000.00 a year and 25% of the company, to $120,000.00 a year and 15% of the company.

I am officially calling shens

Maybe the $ stands for pesos?

 

[TechBoyJK]

Originally posted by: lightpants
he initially asked for $40K per month. I had to use my salesman skills to negotiate that down from $40K and 25% to $10K and 15%.

So he went from wanting $480,000.00 a year and 25% of the company, to $120,000.00 a year and 15% of the company.

I am officially calling shens

officially denied. How much flux to you think there is when large company's like Walmart or HP negotiate a CEO contract?