First Employee

Jennifer had been putting off asking Michael to join his company for a long time. She was afraid of him rejecting her. It might ruin their existing friendship; she knew that it was best to keep business and personal life separate but she was helpless.

Michael had the combination of all the qualities she was looking for in a person. From the plans he had for his company, Jennifer knew that it was the type of company she was looking to lead. She decided to just go for it.

" I know you are looking for employees for your company. I wanted to join." Jennifer asked.

Michael smiled when he heard Jennifer's question. In reality, he could have bargained with Jennifer and asked her to join him in exchange for participating in the tournament. However, he wanted someone who was loyal, not someone who was seeking benefits from a deal. He would only hire Jennifer if she approached him on her own accord. Michael was expecting Jennifer to come and ask him after the tournament so he was well prepared.

" Are you sure? The company will be fully owned by me; It will be different from the regular corporations you worked for. If you work for me I expect complete loyalty to me; regardless of our friendship." Michael asked. He wanted to make sure that Jennifer understood that things worked differently in a single owner corporation compared to a traditional corporation.

" Yes, I am sure. I like the fact that you will be the only boss. I hate dealing with a board of directors and trying to convince them to accept new ideas." Jennifer explained. If Michael was the only owner then that would be best for her because it would mean that she only needed one person's approval.

" Very well, We will talk more tomorrow." Michael replied. They agreed to meet-up tomorrow and discuss business during lunch.

Jennifer went back to the celebrations and Michael decided to go home. He was only participating in the tournament because he wanted to experience an MMA tournament. He was also going to use the victory to rope in Jennifer; judging by her inquiry it seems that his plan worked out well.

Michael spent the rest of the day forming a rough draft of a business plan to present to Jennifer. He planned on starting an investment firm as the parent company; then he wanted to establish various subsidiary companies for different industries. Michael finished up the rough draft and went to sleep.

The next day he trained all morning and then met up with Jennifer for lunch. Jennifer was dressed in full professional attire with a formal blue dress. They casually chatted for a couple of minutes before moving on to more serious topics.

Michael presented the rough draft he made to Jennifer. He was very nervous; in reality, Michael had no experience in running a business. He knew that there was more to business than just selling products. He really needed someone like Jennifer who had the experience in leading a modern day corporation. Michael nervously waited for her verdict.

*****

Jennifer received the draft and perused through it. She was taken back by the ambitious plan Michael had. Investment firms were difficult to establish; although wall-street made it look like easy money, there was a lot of complications hidden beneath the surface. A Gaming company was a little easier to form compared to investment firms. There were plenty of indie games that made it big in the recent years.

Jennifer's biggest concern was that the plan was far too broad. It was obvious that Michael had very little experience with entrepreneurship. She sighed because she knew that she would have to pick up the slack and cover for Michael's ignorance.

" Are you sure about establishing an Investment firm? It is not easy; You would have to attract investors and keep them happy at all times." Jennifer explained to Michael.

" I do not want to establish a normal investment firm. It will be a private firm that invests its own capital." Michael explained. Essentially the firm will just serve to invest his money and give him returns. This way they can avoid all the regulations that public investment companies face. In reality, he is just establishing a company with his own money and hiring people to invest his funds for him.

" Well if that is the case then things would be much easier. However, are you sure that the investor is reliable? If the investor backs out then the company will be in trouble." Jennifer expressed her concerns. Relying on a single investor can be recipe for disaster.

" Jennifer, I am the investor; Did you think I would start a business in an industry I have no clue about?" Michael explained. He wanted Jennifer to know that he was capable enough at least in terms of Investment Banking. Besides she would figure out soon enough if he tried to hide from her. Jennifer was going to be the CEO of the company so she needed to know that the money belonged to him.

Jennifer was flabbergasted by Michael's announcement. She did not think that he would be investing money in the company personally. However, in hindsight, she should have expected that. He always achieved the unlikely and even though he maintained a low profile; he still drove luxury cars and wore high-class apparel. Jennifer realized that she had made the right choice when she decided to work for Michael.

" Alright, so that problem is solved. I can register the company and start the basic legal procedures; However, we really need a professional business lawyer. Furthermore, we will need to go to various job fairs to hire employees." Jennifer explained.

"Hmm just get the framework of the company established. I know that you are in your last semester and still have to do schoolwork. Once you graduate in a couple of months you will be able to go full time." Michael answered. He did not want Jennifer to burn out with both college and business; Besides after a couple of months, he will have more funds to invest in the company.

The last thing they needed to discuss was Jennifer's salary. This was a very awkward situation for Michael. He didn't really know what to pay and Jennifer did not seem to mention any requirements. In reality, his relationship with Jennifer was transforming into something Michael was not expecting. Michael initially got close to her to hire her for his company; however, they were becoming more familiar with each other. It was a situation Michael had never encountered before so he was lost.

Jennifer took the initiative and suggested a monthly salary of $10,000. It was certainly a very reasonable salary for an expert CEO. Michael had initially planned on keeping all the shares to himself; however, he realized that it was probably best to give Jennifer a small percentage of shares to motivate her. He ended up giving her 5% of the shares; Michael was confident that once the company grows that 5% would make Jennifer a billionaire.

With all the specifics ironed out, they finished lunch and dispersed towards their classes. Michael finally had his first employee.