Ask HN: Structuring a revenue stake agreement on web work
One current hourly client and one potential client have both approached me with revenue cut offers in exchange for long term arrangements and a reduced hourly rate. At first, I shunned such an arrangement, but now realize I may be losing an opportunity and an ability to guarantee some level of future revenue. It may even be possible to earn more than I do right now in my current full-time job.
Both clients have stated they want a long term partner for the development of their web offerings, and feel offering a revenue stake is their best path to get there.
What questions should I be asking? How are agreements like this typically structured?
I'm asking so when I speak with a lawyer I have some semblance of the key points with which I should be concerned. I'm sure other HN folks have been offered similar choices, and I'm having a hard time getting out of the "my time and experience is worth X per hour and any other arrangement is ripping me off" mindset.
I'd like to hear what you folks think, or if you have had experience in arrangements like this.
Thanks!