Sharing experience and providing insights

Providing a sounding board

Throughout his consulting career, Marcus has mentored many clients. Some clients find value in this sounding board to check that their thinking is logical and reasonable. Once clients have explained their thinking or proposed approach, Marcus can ask questions designed to expose any weakness or inadvertent traps. If clients can respond to these questions well, they can move ahead with extra confidence. If they have difficulty, it may encourage them to rethink their approach with ongoing support from Marcus.

Specialists need generalist advice

Some people who are highly experienced in some areas are wise enough to want advice when taking responsibility for less familiar areas. They appreciate the opportunity to ask questions and seek guidance from a mentor who can assist them in a non-judgmental way.

Starting a new business with partners

Often, people starting a new business with partners will incorporate a company with standard rules thinking this is all that needs to be done. However, these rules might not adequately address potential issues between partners, therefore a Shareholders' Agreement should be entered into as well.

Many partners prefer not to negotiate a Shareholders' Agreement upfront because they are not completely sure of other partners' requirements and intentions. They are fearful that an investigation of potential issues between partners may prevent the business from starting. Sorting these issues at the outset not only gives peace of mind, it sets up the company on a more solid footing with a greater shot at long-term success.

Potential issues can include:

• How decisions will be made;

• Reporting standards - detail and frequency;

• Issue of new shares;

• Transfer of shares;

• Consequences for breaching the agreement;

• Non-compete clause; and

• Resolution of disputes.

In a start-up situation, it can be invaluable having a trusted third party involved who can provide a different perspective into strategy, business plans and disagreements between partners.

Governance mentoring

Other people may seek advice before, or after, becoming a director in a private company or a not-for-profit organisation.