November 3, 2014
People are getting smart about creating communities online. If you can get people to join, and you provide a benefit at a reasonable cost, chances are you’ll be on your way to building a nice annuity stream. The problem comes (as it does in other kinds of businesses) when the founders want to “sweeten the pot” by offering miniscule ownership interests in the company. I don’t recommend it, and I’ll explain why: Q.: My business sells memberships. There is a lifetime membership option available that is rather expensive, but I thought that if I included one share of the business in this option, it might make it more appealing. Can I include a share of the business in one of the membership types and is this legal? A.: This can be done legally, but you run into more complications than it’s worth. Not a great way to go. First, unless you have a locked-in, airtight plan to go public (or have a horde of dedicated followers to the “cause”), the dollar value of your one…
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