The Richest People in the world don’t own 100% of their businesses. And neither does Roland. You don’t need to own 100% to maintain control of your company.
With an all-too-knowing look, Roland Frasier told his Mastermind, “The biggest risk in bringing on investors is that you lie and get sued. Or you don’t tell the truth and the SEC sends you to jail, AND you get sued, AND you lose your money. Uh, so it’s a really (not) a great thing to do.”
That’s pretty much the worst scenario. But if you’re concerned about losing control of the company you founded – or being kicked out like Steve Jobs with Apple, you’re not alone, and you have good reason to be concerned.
“These are strategies that many people don’t think about. And if you don’t think about it, then bad things can happen because if you think about Steve Jobs, he got thrown out of Apple. George Zimmer, out of Men’s Warehouse, Chip Wilson out of Lulu Lemon, (to name a few) even though they were founders.” Roland Frasier
But in this episode, Roland surprisingly makes a case that will move you forward. You’ll benefit from this ex-lawyers’ perspective.
“There’s just no place to make more money faster than going into those markets”. Roland Frasier.
Did you know,
• Jeff Bezos is worth 110 Billion (and climbing). He only owns 12% of Amazon.
• Warren Buffet has a net worth of $86 Billion but only has 38% of Berkshire Hathaway. • Bill Gates, worth 105 Billion, has a mere 1.3% of Microsoft.
You get the idea.
“So none of these people have a majority interest in their company, but you can control the company, even though you don’t own it.” Roland Frasier.
Listen for,
• How to give shares away, but keep control.
• The impact of good legal advice, compared to GREAT legal advice.
Thank you for listening today. Be sure to subscribe and tune in for our ‘sit-down’ interview on Wednesday, and we’ll have more directly from Roland Frasier, next Monday.
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