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THE NEXT BIG DREAM: Millions Will Compete & Millions Will Win...Millions

Mommy Millionaire

Kim Lavine has transformed the lives of millions through appearances on the Today Show, Rachel Ray, GMA, NBC, ABC, CNN, CNBC, FOX, NPR, Oprah & Friends & features in USA Today, Guideposts, Inc, Business Week, Entrepreneur, and Forbes, to name a few. Her startup bible MOMMY MILLIONAIRE was called by Publishers Weekly “A top-notch how-to guide on launching a business…a rare gem.”

Read more in the newly updated Platinum Version of MOMMY MILLIONAIRE Available for immediate download by eBook or PDF. Filled with all kinds of bonus materials including document templates, updated tips and the real skinny on what went down since I wrote this book.

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Kim Lavine's Media Highlights
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Kim Lavine
Listen as I tell you a story, of history being made...

Kim is on a mission to inspire people to follow their dreams, empowering them with hope, honesty and faith.

Identified as America’s Expert on Inspirational Business Advice, Kim touches and inspires millions around the world through her appearances on The Today Show, Rachel Ray, Good Morning America, NBC & ABC news, CNN, CNBC, FOX, NPR, Oprah & Friends Radio Network, and features in USA Today, Country Living, Guideposts, Inc, Business Week, Entrepreneur, Women's World, and American Baby to name a few. Read More...

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Kim Lavine's Print Highlights
Tuesday
Jun022015

« A Cautionary Tale  »

by Kim Lavine

There was going to be a five member Board of Directors, initially made up of the other three shareholders, my husband, and me. The voting rights of this board were what was in question.

The investors wanted to reserve the right to elect three of the five boardmembers, which meant that they would always have a controlling voting interest, regardless of the fact that I owned sixty-five percent of the company.

I trusted all of the boardmembers to represent my interests, but I didn’t know how long they’d be around. I had to protect not only my short-term interests, but my long-term interests as well.

If we were extremely profitable in just years, I could have the control of my company taken away from me in such an arrangement with a simple vote of the board.

This had just happened to someone in our community, in fact, and it was the talk of the town. He had built an empire of outlet shopping malls across the U.S.worth tens of millions; he brought in some investors with the same board arrangement in which the investors had a controlling interest.

Within weeks after the closing, they fired him without cause, just because they could.

He hadn’t negotiated a favorable employment agreement. He had a non-compete for five years, so he couldn’t even get another job. Though he owned a majority of the stock, he couldn’t convert it into cash, because his severance arrangement wouldn’t force the investors to buy it in the event he was terminated or quit.

Though he had stock worth millions, he couldn’t sell it, couldn’t get a job, and was literally left penniless.

Within two years he was filing bankruptcy.

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