14) Understanding “control” vs. “income”: they’re related, not identical
A subtle but essential concept: control and income are connected, but not the same.
- You can sometimes have income participation without meaningful control.
- You can sometimes have control while assigning some income elsewhere.
- You can trade control for upfront money (or vice versa).
- You can share control while retaining a strong income share (or vice versa).
Professionals often negotiate these as distinct dimensions.
Why this matters
Creators often focus only on “getting paid” and ignore control, then discover later that control affects:
- What opportunities are available,
- How fast decisions can be made,
- Whether others can exploit the work without their approval,
- How the work is positioned in the market.
Meanwhile, investors may focus on control because control stabilizes the asset and protects returns.
If you treat every deal as only about “the check,” you can accidentally give away the thing that makes long-term income possible.