I recently received (another) equity based request for my services. We all get them from time to time, some more than others. This one was based around (reluctantly) giving away a small piece of equity in an idea in exchange for developing it all for free. Not something i’m very fond of doing unless I truly love the market they’re getting into (gaming, advertising, tv, films for example) or it comes with convincing financial statements.
Here’s the straight forward and simple reply i’ve put together which was used in this situation (and will be used in similar future situations):
Thanks for getting in touch. I’m afraid I don’t work in equity situations that value the idea more than the person putting it into execution. Thanks for getting in touch, but i’m not interested in this case.
Good luck with the idea, I hope you guys make it a great success :) Feel free to send me an e-mail rubbing it in if that’s the case further down the line.
There are several reasons for the language in this e-mail:
- bold statement to declare i’m not interested because it is undervaluing me
- making sure it ends friendly and opens up for witty banter
- making sure there’s an opportunity for myself to be ridiculed if the idea becomes a success later down the line
If you’ve responded to similar requests or have an e-mail that you yourself use in this situation i’d be happy to hear from you and discuss your experiences in the comments below.