Because isgood.ai is a cooperative, owned by its members, we don’t have sweat equity in the same way as some other startups. Instead, we track any early stage unpaid work in the company with a system called Impact Points.
Tracking Impact Points
Impact Points are accrued based on the value a person contributes to isgood.ai. The amount of impact points accrued by each person working on isgood.ai is determined on the basis of work completed, and determined based on the “value” and “effort” involved in the tasks completed.
Impact points are for every contributor, whether they’re members or not. There’s no prejudice on contributors or members, impact points are based purely on contribution. (for more on contributors and members, click here).
People keep their Impact Points even if they leave the co-op, and they are totally separate to ownership or investment shares. At some stage, when the business is thriving, we look forward to paying them out.
Some roles involve a lot of extra effort not just to complete, but to coordinate tasks and people. Those will have an extra factor applied, for the number of tasks created, managed and delegated in their management role.
The exact calculation model is yet to be determined between different types of roles, however there is quite a number of different data inputs that will determine this. It is to be agreed and decided for all members, by the board, at a time when they’re able to be paid. (for more on the board and decision-making, click here).
In the meantime, it is important to note that we are using Clubhouse.io (our project management system) to track impact points. Meaning, only work reported in Clubhouse.io will yield impact points. (for more on Clubhouse.io, click here).
When isgood.ai is determined by the Board to be in a secure financial position, the Board may, at its absolute discretion, resolve to make financial remuneration to contributors that hold Impact Points. isgood.ai impact point payments will be treated as a discretionary remuneration that is based on the performance of the company.
Distribution of any remuneration will be proportional to the number of points that have been accrued and market data from tools such as https://hiringplan.io.
A risk multiplier will be applied to Impact Points accrued in the earliest phase to recognise the increased level of risk taken. The rationale is that the risk involved reduces as isgood.ai develops over time.
The exact process for determining the monetary value of these Impact Points will be developed by the board at a later date, and at its absolute discretion. (for more on the board and decision-making, click here).