Need some advice

I have been approached by some investors with some deep pockets who want me to run a roofing company with my lic for the necessary year before they obtain their own lic . I have a meeting with them next week and we will discuss our positions . Any advice out there I can ponder ? I'll respond to all legitimate questions and advice . Thank you in advance

This is getting closer to a done deal. Phone rang this morning...... I'll be receiving preliminary deal too examine make adjustments and run by my legal counsel. I will keep updating as this progresses. B) :) :) B)

That was very interesting. Meeting all major players. The contractor whom I've worked with for years and suggested me as a legitimate choice for this venture. Most of it was meet and greet. Near the end I suggested a proposal of parameters expectations. Paid out in lump sum ,percentage or fee schedule. Control and liability non negotiable. I have some homework to do. Need to figure out monies. I am blessed way more than I deserve

Jed Said: Given the opening sentence - I have been approached by some investors with some deep pockets who want me to run a roofing company with my lic for the necessary year before they obtain their own lic............ I dont see where there is any debate in what run it means.

If you were asked to perform a task for which you do not possess the necessary skills/knowledge ,( I underline this because if you HAD the knowledge then the request would be legitimate) purely because you hold something the askee does not, would this not raise a flag?

No assertion is being made in my question on conflict of interest. I am asking if an insurance adjuster who is considering working as a storm chaser would not have a conflict of interest?

You are trying to force your opinion of what is "legitimate" onto the proposal. I would suggest you open your mind up to other forms of doing business such as "joint ventures", "limited partnerships", etc. Study the various ways that people with deep pockets do business and you'll find that they often use techniques that are being discussed. There is nothing that raises a flag about it.

If they truly do have deep pockets, they probably are smart enough to evaluate the talent that they are attempting to hire. They obviously have one primary need: the license. They might view the adjuster experience as a significant asset in terms of having insider knowledge about the insurance industry. Those criteria will also have to be balanced against any lack of real experience regarding the actual running of a business.

I myself see a very wide range of what would constitute "running a business". Does that mean that Ciak would have total control without any input from the money man? Or, would that mean that Ciak is the point man in an organization and he would have significant experienced support that he could draw on? They might be asking him to run an operation and they already have all the systems and people installed.

Or, they could be exposing Ciak to a situation that he doesn't have the skill for. That's the reason for meetings....to discuss the scope and offer.

I like offers: the more the merrier.

Jim that is very good advise. On another forum mentioned as " dick strokes " B) :woohoo: :woohoo: B) Your advise is similar in scope as other here. That puts you in that category according to the same bullie you are trying to reason with. I refuse to deal with him.

CIAK Said: Thanks Jim It will interesting. There are a lot of emotions to sort through. Clear thinking One reason for this topic. I have had great advice from everyone except one. No surprise there, School yard bullies rarely change they just need to be ignored. Control of spontaneity will be my cross to bear. Putting the game face on. Just got the confirm call. Cool

Your best asset in controlling the spontaneity will be your consult with an attorney. If they insist on you making a quick decision, then the answer should be an automatic, and emphatic, no.

Jed Said: It is a legitimate question. Asking you to run a roofing company when you have so virtually no background in the trade throws up a flag does it not?

And the conflict of interest angle is also a major concern given your background in insurance, but I am not surprised you choose to ignore it.

I wouldn't call it a "flag". The term flag carries a negative connotation. I would want to know what the phrase "run it" means. It might mean supplying the license, while their established systems handles the day to day operation. It is a point of interest and it's tied very closely to the main point: the license.

If I were risking my license, I'd insist on final say on personal and practices over the operation. I wouldn't want them handing me a bunch of the previously discussed (in another thread) "scoundrels" and letting them jeopardize my license and freedom.

Jed, you are asserting that there will be a conflict of interest. I don't see how you derived that as fact from the given information. Are you just assuming that there will be a conflict?

Thanks Jim It will interesting. There are a lot of emotions to sort through. Clear thinking One reason for this topic. I have had great advice from everyone except one. No surprise there, School yard bullies rarely change they just need to be ignored. Control of spontaneity will be my cross to bear. Putting the game face on. Just got the confirm call. Cool

CIAK Said: I have been approached by some investors with some deep pockets who want me to run a roofing company with my lic for the necessary year before they obtain their own lic . I have a meeting with them next week and we will discuss our positions . Any advice out there I can ponder ? Ill respond to all legitimate questions and advice . Thank you in advance

I would love to be approached by investors with deep pockets. Of course I would listen, with interest.

#1) Remember, in any negotiation, he who mentions a number first, loses.

#2) Verify the deep pockets. It's very easy to put on a show. Don't be afraid to make the deep pockets prove themselves.

#3) Place a realistic # on what your loss of license means for you. You are risking everything, they are risking a small sum of money.

#4) Spend the money for a good lawyer to review all your documents. Don't get bull rushed into anything just because they are all nice guys.

John If the bag is full enough that maybe the way it goes. Tommorow we will have our first sit down after months of communication.

Jet The state requires a year working with a CCC roofing contractor before eligible for CCC or your own correct Jet ? If it is different than that I would like to know. tico It will be a stormer company based out of Florida working storms in hail states . Any storms here in Florida will of course .

Since when does it take a year to get licensed here in FL?..........smells funny to me.

JET