— From Alice’s conversation with Cheshire Cat from Lewis Carroll’s Alice in Wonderland“If you don’t know where you’re going, any road will take you there.”
For business owners intently focused on growing their private companies, it may seem like a waste of time for them to answer how they define success. They may even view
Most private businesses have bylaws, company agreements or partnership agreements that govern their operations, but these agreements are often silent, or not well thought out, regarding issues that may become critically important to business partners. Specifically, most company governance documents do not include buy-sell provisions, and as a result, there are no terms in place
In the private company context, high-performers, senior executives and other vital employees are a company’s lifeblood. It is therefore critically important to retain these top performers, which often requires that the company’s majority owners provide these key employees with significant financial rewards. Simply paying top performers additional cash compensation or issuing them shares of an