Need help with defining the Timelines/ Milestones for my Project

By Sunaina Shenoy on July 4, 2013 9 Comments / 3414 views

Hi Rodinhooders!!

Glad to be a part of this wonderful & enterprising community. Working with 2 start up companies in 4.5 years of my career, I am now moving ahead to start a venture of my own, GreynGreen.

GreynGreen is basically is a website that helps any individual user to plan & budget their finances for daily activities/ special occasions. A personal tool that keeps a record of a user’s planning and budgeting tasks, accessible at any time.

I am looking for suggestions to help me define the timelines/ milestones I need to achieve to move ahead.

Also, if someone could throw light on how to decide how much equity (shares) to give a new partner?

I look forward to all your suggestions/ criticisms/ ideas & thoughts about GreynGreen that would definitely help me make this venture a huge success..

Comments

Sunaina Shenoy

9 Comments

asha chaudhry July 5, 2013, 1:13 pm

hi sunaina,

it would really help if you added the link of your website on your post…
Sunaina Shenoy July 5, 2013, 2:44 pm

Hi Asha,

I’m still working on the website.. Should be ready in a few days time..

Once done, will definitely add the link.

Thanks.
asha chaudhry July 11, 2013, 1:03 pm

sunaina…

about your EQUITY q – there are quite a few ASKs about equity to a new partner. will try to pull for you.

when you have a breather – pls search ‘equity’ and check the posts in ASK

meanwhile – this is an interesting one by alok – for advisors – https://www.therodinhoods.com/forum/topics/advisory-position-how-much-equity-for-how-much-time
Sunaina Shenoy July 12, 2013, 12:19 pm

Hi Asha,

Thanks for the link.. Was a great help 🙂
Aman Jha July 12, 2013, 7:01 pm

Hi Sunaina,

Check out Money Manager in icici bank’s website. May be you can get some cue from there for adding few more features.
Alok Rodinhood Kejriwal July 13, 2013, 3:21 am

Sunaina, this is part answer to your question (on equity – that I had answered on Quora also)

Alok Kejriwal‘s answer to:

Startups: How do I split equity between my new co-founder and I on a side-pro…

thanks for the interesting question.

Let me dive directly into the sweet problem:

– Lets assume that you have invested 400 hours into the project

– Lets assume that your market value is US$ 25 per hour

– Lets also assume that you have invested 5000 US$ cash into the project

Therefore the ‘capital’ invested into the venture by you is = (400*25) + 5000 = US$ 15,000

– Now lets assume that your friend puts in 500 hours in the next few months

– His value in the market is US$ 30 per hour

After he has put in his hours, the ‘capital’ invested by him will be US$ 15,000

Total Capital of the Company now will = US$ 30,000

Both of you will therefore own 50% each.

– Lets assume that you also continue to contribute while he is involved

– Lets assume that you add another 200 hours

Your capital invested in round 2 will be = US$ 5000

Total Capital created will be 15K + 15K + 5K = 35K

Your share will be 20/35 = 57.15%
Your friends share will be 15/35 = 42.85

This formula can be used to add capital to the pool and reward the contributors (be it via cash, effort, employees (the amount they DO NOT take home in cash) etc.

Tell me if this helps!!
Alok Rodinhood Kejriwal July 13, 2013, 3:22 am

Please also mail me at alok@rodinhood.com – I will introduce you to project planners at games2win who can help you (you could cc amit@c2w.com as well for a follow up person within the office) 🙂
Sunaina Shenoy July 16, 2013, 11:49 am

Totally apt & to the point.. Let me work it this way

The best part is because you answer every query from your mind and not from a machine… 🙂
Sunaina Shenoy July 16, 2013, 11:52 am

🙂