Screen Recording 2024 09 23 at 11 57 38 PM

Summary

In the script, a meeting between Gustav, Jacob, and a potential partner from the Philippines discusses a project's timeline, scope, and budget. The Swedes express concerns about the high cost of the team's involvement compared to hiring locally. They propose a partnership with equity in their startup instead of high cash payments, aiming for a lean operation. The Filipino team is hesitant due to their current hourly rate structure and the need for upfront payments for their team. Both parties explore the possibility of a pilot project to attract investors and establish a cash flow before committing to a partnership.

Takeaways

• 📝 **Time Zone Confusion**: There was initial confusion regarding the time difference between the Philippines and Sweden, with a 6-hour difference noted.
• 📝 **Project Scope and Budget**: The project's scope and budget were discussed, with concerns about the number of team members involved and the cost per hour.
• 📝 **Expectations vs. Reality**: The client expressed that the current proposal does not meet their budget expectations, comparing the cost to hiring a full-time developer in Sweden.
• 📝 **Skills and Contributions**: Gustav and Jacob highlighted their capabilities in business, finance, and competitor analysis, seeking a technical development partner.
• 📝 **Resource Allocation**: There was a discussion about the efficiency of resource allocation, with suggestions to reduce the number of people involved in certain project phases.
• 📝 **Hourly Rate Discrepancy**: A significant increase in the hourly rate from a previous advertisement was noted, causing budget concerns.
• 📝 **Education and Training**: The client is not willing to pay for the education or training of the team, expecting them to be ready for the job.
• 📝 **Equity Compensation**: The possibility of offering equity in the company as part of the compensation was discussed, instead of a high cash payment.
• 📝 **Stock Options for Team**: A suggestion was made to allocate company stocks to the team, with the possibility of dividing it among employees.
• 📝 **Pilot Project Proposal**: It was proposed to create a pilot project to attract investors and generate cash flow for salaries and further development.

Q & A

What was the initial issue discussed in the meeting?

The initial issue discussed was a scheduling conflict from the previous day, which had caused some confusion.

What was the main topic of the meeting?

The main topic of the meeting was to discuss the timeline, scope, and budget of a project, as well as the possibility of equity involvement.

Why was there a disconnect in communication?

There was a disconnect in communication because the budget expectations did not align with the proposal; the budget was much higher than what the clients were expecting or willing to pay.

What was the clients' concern regarding the team composition?

The clients were concerned about the number of team members involved in different project steps, as they felt it was unnecessary and increased costs.

What did the clients propose as an alternative to the high budget?

The clients proposed a partnership where they could own shares in the company and take less payment, but not include costs for team education or training in the budget.

What was the rate mentioned in the past for the service?

The rate mentioned in the past for the service was $5 an hour, which was significantly lower than the current proposed rate.

What was the proposed rate in the current budget?

The proposed rate in the current budget was $83 an hour, which the clients found to be a big increase from the past rate.

What was the clients' stance on paying for team education?

The clients were clear that they would not pay for the education of the team; they expected the team to be fit for the job or not at all.

What was the clients' view on the equity offer?

The clients were open to the equity offer, but they wanted a clear plan on how the value would be created and how the team could earn equity in the company.

What was the clients' suggestion for the next steps?

The clients suggested creating a pilot project that could be shown to investors to generate cash flow and eventually allow for salaries to be paid.

What was the final agreement regarding the next steps?

There was no final agreement; the team lead was going to think about the offer and get back to the clients with a decision after considering the proposal.