If you're open to suggestions, here's how I would have done it:
1) offer a stipend. It's going to be modest, but you're a startup, so "We'll pay for your lunch, and give you enough money to rent a place with roommates," is enough.
2) Instead of ownership of revenue, give people ownership in the properties they create. Getting 10% of something questionable is okay, but being in charge of whatever new, successful lines of business you create is great.
3) Drop the '12 months' line. Tell people that you're looking for folks who can create good sites, and that if they can do it in a few months, you'll bring them on board full-time. A cut of revenue might be the right way to do things, but it makes you sound like an affiliate marketer masquerading as an internship, rather than an internship with a novel compensation scheme.
Interesting. We're trying to put together the cash for a reasonable stipend, and will if we can. We won't give equity for intern/contract type work; almost no one goes, for good reason. That being said, we'd love to be able to bring someone on full time after the summer, assuming things go well. The summer/12 months was designed to appeal to college students who compose the traditional intern market...
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If you're open to suggestions, here's how I would have done it:
1) offer a stipend. It's going to be modest, but you're a startup, so "We'll pay for your lunch, and give you enough money to rent a place with roommates," is enough.
2) Instead of ownership of revenue, give people ownership in the properties they create. Getting 10% of something questionable is okay, but being in charge of whatever new, successful lines of business you create is great.
3) Drop the '12 months' line. Tell people that you're looking for folks who can create good sites, and that if they can do it in a few months, you'll bring them on board full-time. A cut of revenue might be the right way to do things, but it makes you sound like an affiliate marketer masquerading as an internship, rather than an internship with a novel compensation scheme.
Interesting. We're trying to put together the cash for a reasonable stipend, and will if we can. We won't give equity for intern/contract type work; almost no one goes, for good reason. That being said, we'd love to be able to bring someone on full time after the summer, assuming things go well. The summer/12 months was designed to appeal to college students who compose the traditional intern market...