The subject title probably dont make much sense, allow me to elaborate.
I own an automotive enthusiast site that works on a standard concept (with a few unique twists) in a new market (that is, I don't really have any direct competitors).
I'm of a technical background and have (and can) easily handle the technical aspects of the site, however I have to admit that I am not harvesting the full potential of the website due to lack of marketing. I know the potential is there, because the website has grown very fast with very limited marketing, but I cannot get it into the elite league.
I'd like to find a marketing manager who want to become a partner (instead of hiring one), as I don't have any start capital for it, so whoever shows interest must be able to see the same potential I'm seeing.
So in short, i'd like to prioritize growth of the website from this marketing manager in return for future revenue.
I'm not sure how to go about this, so would like to ask for advice.
What i'm thinking is that I could offer 50% ownership of the site to the marketing manager if he/she is willing to do the following:
- Provide X amount of money for marketing
- Use the X amount of money for marketing
- Establish stabile growth
And in return get:
- 50% of the income from ad sale in all future (a huge amount of potential here if the growth happens)
- 50% of any other income
- Does not have to pay to any technical expense
So in short, provide money, skill and labour in return for the partnership of a custom solution where he/she can see the potential. The money provided will not be accessible to me, however I will require proof that it is being used to market the website.
I think, the more money he/she is willing to offer, the more serious his/her commitment must be and the potential he/she can see in the site. It's pretty risk free, as he/she never shares any money with me, does all the marketing (for growth) and selling of ad slots, takes the money from the publishers and split with me.
In return I get the marketing aspect covered which I lack in, ensure growth and can harvest 50% of the income from the future revenue stream.
Of course a contract will have to be outlined, that protect him/her and me in case he/she and I do not uphold the requirements in the contract.
So to keep it short, the idea was to put the above into a a bunch of spreadsheets/presentations/pdfs and put it all up on flippa and see what happens.
If somebody bids X amount and shows interest we could take it from there.
As far as I know, the above is a very different approach, therefore input is appreciated