During the last few weeks I have been presenting at a number of events on this tricky subject, one thing that sticks out is the massive lack of knowledge with key shareholders in many SME’s.
My friend Paul was one of those affected by a number of events that had a profound impact. Company was doing £1.5m t/o with twenty or so staff.
Owned by Paul and his old friend equally. His friend dies in a car accident, overnight he’s lost a mate, a key technical guy in the business and on top of those problems, he now has to deal with his wife who is now a key shareholder.
He thought that it would all be smooth, he’s known her for years. It ticked along quite nicely once an understanding was agreed until….
Eighteen months later she meets a new man, and now he is running a business with her and her new boyfriend. There is no need for details but you can imagine what an impact all of this had.
Emotionally and mentally drained in very short period.
She had no business skills but the new boyfriend had plenty and was always around with some constructive comment around staffing, marketing and business processes.
Paul had no money to buy her out, well not at the money she wanted.
Key question is…
Do you really want to run your business with one of your shareholder’s wives or their new partners? Guess is the answer is no!
It’s just one reason I have rolled out my Group Consultancy which looks at these corporate issues and more, but it’s done in a Mastermind Group style. That way everyone learns and moves forwards to a solution.
You’ll get to learn about
Intellectual Property – Lessons From The Masters Of Tax Avoidance
And a whole load of other things.
Drop me a message today or get in touch via The Financezone.co.uk and we can talk further. It could be the most valuable few hours of your business life, and the first one is free.
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