Episode 128 — Preventing Partnership Problems
The Boardroom Buzz: Grow, Sell, or Exit
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Show Notes
This one’s for the partners out there. Before pressing play, ask yourself if there’s a common theme behind partnership problems. How do you prevent blowing up friendships over the course of building a business together?
Know your role. Tune in to hear about the importance of distinguishing between shareholder vs employee roles. Partners, how did you decide compensation, equity, and strategy decisions? How do you stay on the same page? What about a tiebreaker?
Maybe you don’t already have a shareholder agreement in place. It’s not too late. If you do, does it include a provision for calculating the value of your business?
Exits happen. Do you have a plan for both voluntary and involuntary exits? Have you worked through any issues that could arise? If your shareholder agreement has a preamble, email it to The Buzz ([email protected]).
Are you ready if your plane falls?
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