The EntreLeadership Podcast How Should I Split My $3.5 Million Company?
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Oct 13, 2025 Wes Henderson, an entrepreneur and master distiller, co-founded Angel's Envy and recently launched True Story whiskey. He delves into the complexities of family ownership and shares his journey in creating innovative bourbon brands. Topics include the intricacies of distributing shares between family members and how to maintain harmony in family businesses. Wes also reflects on the origin of Angel's Envy, the challenges of scaling production while ensuring flavor consistency, and the importance of storytelling in his new brand.
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Separate Ownership From Operations
- Separate ownership from day-to-day roles and pay each person for their job, not their shares.
- Create operating agreements that define owners' decision rights and limit owner involvement in daily operations.
Beware Minority Shareholder Pitfalls
- Avoid creating a minority shareholder with near-zero power by small percentage splits like 51/49.
- Recognize that minority ownership often means little operational control.
Why 50/50 Ownership Often Fails
- A 50/50 ownership can freeze decisions because two equal owners can deadlock.
- Use operating rules and empowered leadership teams to avoid constant owner-level decision-making.