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I need tips on sharing my income with my partners...

by iconnorway
7 replies
Ok, so here's the case. I'm working on a project with two other people, and we're setting up an affiliate funnel basically.

My question is; How best do I share what we make in three? (a 40% / 40% / 20% split)

Ideally, all three of us would get our share on our accounts (Stripe) automatically each month.

How would you guys go about this?

I'll elaborate if needed

Thanks,
Morten
#affiliate #income #partners #share #sharing #tips
  • Profile picture of the author Ellac
    Take a look at Clickbank Joint Venture program.
    They split the revenue and distribute it for you.
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  • Profile picture of the author GordonJ
    Originally Posted by iconnorway View Post

    Ok, so here's the case. I'm working on a project with two other people, and we're setting up an affiliate funnel basically.

    My question is; How best do I share what we make in three? (a 40% / 40% / 20% split)

    Ideally, all three of us would get our share on our accounts (Stripe) automatically each month.

    How would you guys go about this?

    I'll elaborate if needed

    Thanks,
    Morten
    A little elaboration might help. You all worked on a project, right?

    You are going to share in the profits, yes?
    First, define, in writing what a profit is.

    If you get any refunds at all, those have to be deducted, and are the expenses shared along the 40/40/20 idea?

    Who owns the site or the product? What if one of you gets run over by a bus?

    These may seem like silly questions to you now, but, if you guys hit it out of the park, and money rolls in...

    you better have everything nailed down as to who gets what.

    Are you organized? A partnership? A joint venture? Is there one General Partner or manager?

    Don't mean to complicate matters, but, you could always use something like escrow to hold the funds and disperse them on a regular monthly basis, after expenses and returns are in.

    Or, as suggested, use a system by one of the sites already doing affiliate type marketing.

    GordonJ
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  • Profile picture of the author JohnMcCabe
    Gordon nailed it.

    There's a Chinese proverb that says "the faintest ink is more accurate than the best memory", or something to that effect.
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  • Profile picture of the author techwizard
    I think it's : The palest ink is more reliable than the most powerful memory
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    [Done for You] Your OWN 6 Figures e-Commerce Apparels Brand selling your OWN products (Shirts, Hoodies, Crewnecks and more)
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  • Profile picture of the author Muhammad Saad
    According to above question, i am having another question as what should we do i mean do we need to introduce our ABOUT section as one person or as Team of three.???
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  • Profile picture of the author Chris-
    You can setup JV Contracts on JVZoo which share out the money automatically from each sale.

    As for which percentages go to which part of the group . . . in my opinion, marketing and sales are the most important part of any business . . . creating a product is really the easiest part usually, and just creating a product often won't get any sales at all, it's the marketing and sales actions that do the most in terms of making the difference between little or no money, and big money.

    Chris
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  • Profile picture of the author JohnMcCabe
    Originally Posted by Muhammad Saad View Post

    According to above question, i am having another question as what should we do i mean do we need to introduce our ABOUT section as one person or as Team of three.???
    Here's a question to answer your question...

    Which approach best positions you/your company in the eyes of your target audience?

    Some niches are definitely anti-corporate, so you'd want to avoid anything that looks, sounds or smells of big business.

    Some niches are the exact opposite. Would you really consider putting your money in "Joe Bob's Bank"? For the professional niches, you want to sound solid and dependable.

    If the answer isn't clear, you can try the middle ground, with one person acting as spokesperson or 'front man' with a support team behind him.

    Keep in mind, your About page can evolve along with your business.
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