What are the way to expose our business to public?

What is the best way to recruit a technical partner for an already established business?

• Right now, I run a small business (web related) alone. I am looking to recruit a partner to continue running the business should I be gone suddenly. Because the nature of business is subscription based, I was worried about how the business would continue if I suddenly pass away. Unlike traditional mom and pop shops, running a web/tech business requires technical knowledge which makes it quite difficult to pass to a family member so I am looking to get a non-family member partner with technical knowledge to run the business as owner. Note that the business structure is in sole prop., I know I should convert to corp. soon as I have a partner. Now my question is what is the best way to do this. How much percent in terms of shares should the new partner have? Also I am not sure whether the new partner should buy shares since they might not like to buy if it was too small or too expensive. My top priority is just to have a partner whether or not he buys shares. So I may be willing to give it really cheap (or free) as long as he is willing to run the business. So again, how much percent should the new partner have and do I sell shares or not?

• Answer:

  My suggestion is to structure it so that the other partner can buy in over a period of time as he/she feels more comfortable about the business. Ultimately it could be at a 50/50 split in the ideal case, depending on what type of business and revenue you're in.   You can also consider have the partner earn "sweat equity" over a longer period of time too.