anallawalla - 1:43 am on Mar 30, 2012 (gmt 0)
Profit share is good, but it kicks in after <some minimum number of months). Equity is not good unless it kicks in after x years. You may not want a few equity owners who are not connected with the company after they leave, but you may be OK with this if they were great contributors when they worked for you.
Set good admin processes in place, e.g. password changing every month or when someone leaves, whichever happens first; backups, recovery, disaster plan, etc.
One reads about great developers or writers who live in the mountains but are great contributors. You may find one by hanging out in some of the sites devoted to the great outdoors.