Understand the 7 D’s of the Shareholders Agreement – watch this with your corporate partners to open a positive conversation about your Corporate Shareholders Agreement.
This takes the emotion out of the process and helps you dig into your intentions. Now is the time to draft this agreement – while you are at the beginning and the trust is high, deliberately discuss and protect that trust over the long haul and all of the “What ifs” – what if things go well, what if things go badly, what if we need to raise funds, what if a partner is disabled, dies or wants to exit, what if we don’t agree later, what if we want to sell?https://www.youtube.com/embed/yhBHA9swQ3o
The trust you have with your partners as you incorporate is protected and formalized in the Shareholder’s Agreement.
This is an opportunity to have deeper conversations and capture intentions well in advance of any arguments, surprises or conflicts. This way, the agreement is stored in a drawer until any of the items arises but if something comes up, there is less stress and conflict because it was already decided – when cooler heads prevailed.
By going through this as a framework, we remove the emotion but still tap into your true wishes rather than pulling out a boilerplate template and being only expedient.
This guided in-depth process can be conducted with your coach and consultant to capture your real intentions in a container of non-judgement, cooperation and imagining the “What-if’s”.
- An 8th D would be Divorce and, if applicable, we will discuss the options and concerns on this item too. This applies even if the spouse is not a shareholder as considerations should be addressed for the ramifications of changes and challenges.
Those Business (and Family) Conversations You Need to Have
There are some amazing conversations that are finally brought out during these conversations as well – uncovering unspoken assumptions and expectations. This is also a place to uncover your individual long-term goals, work-optional lifestyle and exit plan ideas.
“Tough conversations lead to a rich and intentional life.”
We assist clients in powering up the wealth engine that is their business – helping you navigate those transitions from Owner-Operator all the way to Owner-Leader. Our virtual advisory board team provides micro-CFO analysis, strategy, leadership development and the tools you need to grow and protect your wealth to fuel your lifestyle, your impact, and your legacy.
Connect with our CXO Cher Cunningham – you deserve to start positioning your business as an asset today. (yes, you are ready!)