Assuming you've read the top page, here you may learn more. 1. How does CocoonWorks function exactly? While we remain focused on internet-based businesses, our current process involves the following three teams who each play very specific roles in taking an idea to market. The Incubator Team - WE BRAINSTORM - We participate in general forum discussion, reviewing emerging business models and fresh ideas.
- WE VOTE - As ideas solidfy, we collectively vote to green light projects.
- WE ELECT - We define the core team on paper as "open positions", we match and interview existing members first, and then new candidates, to build the best team for each project.
The Development Team
- WE DESIGN - We invest heavily in the design of each prototype and utilize our online Project Management software to define initial milestones required to take a project to BETA.
- WE BUILD - We build prototypes, test them, refine them, and assure the quality defined in design has been met.
The Launch Team
- WE FUND & ADVISE - We offer guidance and, while we prefer to avoid it, when needed, we call on our sponsors to provide necessary seed capital. Given the high profile nature of our projects, coupled with our highly managed prototype approach, funding is rarely a problem.
The Administration Team - WE ADMINISTRATE - We administrate the sustained growth of our revenue generating projects.
2. What do you expect it to grow into? An entrepreneur's foundation, started by entrepreneurs for entrepreneurs, which specializes in building early stage teams, and managing the process of taking ideas to market to become sustainable businesses. 3. Are you accepting new members? By invite or referral basis only. You are welcome to contact us about a current opening, but unless you know a member, or are exceptionally talented, we will not be able to respond as our time is extremely valuable. 4. What's your formula for success? We believe it takes a core team of incredibly talented specialists to create something great, that we could not otherwise do alone. We also believe with great risk comes great reward. Therefore, each core member vests ownership in the projects they invest sweat equity in, at a multiple of the fair market rate of their real world compensation. For instance, let's say you are accepted for Project X, which pays at a multiple of three. You are a PHP Developer who generally bills at $50/hr, and you invest 20 hours of your time in Project X. You are now entitled to $3000 (20 hours multiplied by $150/hr), to be paid immediately upon your project generating revenue. In addition, you will have earned a significant ownership in this company you helped start, which you may choose to sell, or hold onto. 5. How is CocoonWorks funded?As a virtual international business, CocoonWorks has extremely low overhead, and virtually no operating costs. We've leveraged our creative energy to bootstrap CocoonWorks, and we continue to carry this spirit on in all projects that come out of CocoonWorks. No investors required yet. All successful businesses that are born at CocoonWorks are committed to donating back a small portion of all revenues to the incubator program, to help CocoonWorks grow. 6. What is the Organizational Structure? We are our own Board of Directors, we vote on issues regularly, we approve new projects, we slaughter failing projects, we elect new members, and when absolutely necesssary, we re-assign members who are unable to contribute to the team goals effectively. 7. What are the fees? We will NEVER charge our members fees or dues, as our aim is to build revenue, not an expense model.
8. What is the Culture?Not unlike Google Labs. Our culture promotes financial security but not through a motivation of greed, but instead a principle driven motive to create a platform of opportunity for bright young minds. We do not aspire to be Rolex wearing, macho, Ferrari driving, egotistical personalities. Instead, we believe in empowerment, and leveraging our collective mind to further our cause to further build our entrepreneurial force. We generate profitable revenue streams, but never at the expense of our moral grounding. We believe in the equality of our members, and remain dedicated to promoting a bottom-up organizational structure. We admire the fact that every Google employee is encouraged to spend 20% of their time (1 day a week) on incubating a side project, which is how many, many projects were born, including ORKUT and GMAIL.
|
Our FAQ