Sweat Equity Connection is the world’s first and only online marketplace matching early-stage, ... More
Sweat Equity Connection is the world’s first and only online marketplace matching early-stage, start-up businesses and other new ventures with executives and independent service providers willing to work for all or part of their compensation as equity in the new ventures. The site uses a number of features to differentiate it from traditional employment outlets, including Talent Match Technology, a proprietary matching engine with special algorithms to weigh certain data points and create more accurate, customized searches. Sweat Equity Connection also provides a host of entrepreneurial and career resources for both start-up businesses and executives, including a Resource Center and professional service offerings. The company was founded in September 2010 by attorney and entrepreneur Kenneth J. Kwit using the sweat equity compensation model, and the web site made its beta launch in the fourth quarter of 2011.
Last updated 26 Oct 2011
Published 26 Oct 2011
It’s a common problem for anyone starting a business; top talent is expensive even on a part-time consultancy basis. Furthermore if early stage funding is hard to come by then the chances of hiring anyone in the high flyer bracket get even slimmer.
Sweat Equity Connection is a new site that aims to iron out that problem by providing a matching platform for those seeking top talent with those looking for their next opportunity. Quite different from a job posting site however, the clue is in the name of the site and remuneration mostly comes in the shape of an equity stake in the business concerned.
The two sides of the equation are labelled talent seekers and talent providers and both need to register. Talent providers will have to divulge quite a lot of information about themselves which is fairly understandable when you consider a possible outcome could be that they end up with a sack full of Facebook-like shares.
The answers to their questions will be subjected to the sites unique algorithms which will gauge their attitude to things like risk tolerance levels and also drill down into their entrepreneurial skills. The final test of a good match comes courtesy of an exercise similar to that used by dating sites where personality and psychological traits are analyzed.
Talent seekers register and can post their opportunities for free. Charges will apply however when it comes to searching the talent database and range from $500 to $1,200 based on how many days access is required.
Talent providers will also have to part with some cash eventually which increases in line with the level of functionality required. For example the basic package allows for one opportunity to be applied for. The capability to apply for multiple opportunities will attract a higher cost.
Whilst currently in beta talent providers can enjoy all functions free of charge however it’s not clear if talent seekers get the same deal so that might be worth checking.
Although sweat equity as a concept has been around for a long time this is the first site that aims to bring the two sides of it together. With the potential to boost new business success stories it has to be worth a look at by a wide range of entrepreneurs.