freelancing or helping?
So I have an acquaintance who is a CEO of a startup that needs help with its product. The scope of help is yet to be known as I'm still expecting the call. He has asked his product manager (though I feel he himself should have called) to have a call with me whom I have never met/spoken with before. Their niche enterprise product is going to target any and every internet companies. I'm wondering if he asks for some help e.g. beta testing, feature suggestions, general feedback or any thing that demands my time then should I do it for free as the CEO is an acquaintance (actually met only once) and may be in future he might return the favor when I would be needing it or should I be asking for any compensation in return? What would be the most professional and fair thing to do?
If he refuses to compensate you, tell him politely "thank you for your time" and let him know that you're not looking for unpaid work at this time.
Early stage, If I can't afford... I ask for regular billing plus half but exchange cash value for equity. It's also a great test to build a long-term relationship. Ex: bill is $1,000, I issue a safe for $1500. Just an idea.
The most professional thing to do is ask for a fair hourly rate for your expertise. Donβt do things for free. Just donβt. Itβs bad for other freelancers, and it sets a lousy precedent.