So Your "Friend" Asked You to Build an App

...or  "Other ways to ruin a friendship"

- @jaybobo

I am not a lawyer

I am not an accountant

The Basics

  • yeah, you should get an LLC
  • clients & shoes
  • what's in an agreement?
  • making sure you get paid
  • when the fhit hits the san

Doing THE LLC THANG

  • taxed like sole prop
  • protection from liability
  • simple paperwork
  • creditors can't go after personal assets
  • tax perks!

TAX BREAKS

  • work-related education
  • meals & entertainment
  • business trips & travel
  • medical expenses
  • small business equipment
  • rent & utilities (home-based)

CLIENTS

PICK YOUR CLIENTS

  • how much work is really involved?
  • do you really want to do it?
  • can they afford to pay you fairly?
  • do they have any money?

translation costs!

AGREEMENTS

WHATS IN AN AGREEMENT

  • payment terms
  • expenses
  • ownership
  • breach & remedy
  • liability
  • indemnification
  • confidentiality
  • governing law
  • termination
  • etc

GETTING PAID

payment on delivery

50/50

30/40/30

GETTING PAID

  • mitigate your risks
  • maintain your integrity
  • communicate often
  • hold assets if needed

PREFERRED PAYMENT TERMS:

PAYMENT IN ADVANCE

PREFERRED PAYMENT TERMS:

PAY PER TICKET

THIS IS MAYBE THE 4th

TO LAST SLIDE

MONEY AIN'T EVERYTHING:
Agreements

FYI

  • lawyers are expensive
  • small claims is a hassle
  • documentation matters
  • have a letter drafted
  • time + money + stress

FIN

@jaybobo

So Your Friend Asked You to Build an App

By Jay Bobo

So Your Friend Asked You to Build an App

A talk about limited liability companies, payment terms, service agreements and other topics essential to working with friends ('errm..clients').

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