RULE 94
Don’t surrender equity
This is a Rule for anybody who runs a company, or who is a freelance and is thinking of setting themselves up as a sole trader business. Essentially the point is not to give away bits of you or your company.
The aim of the exercise is to preserve wealth so don’t surrender equity (shares or a stake in your company) or you’ll be paying someone a share of your hard work, time and energy. Better to give them money, even if it is with interest, rather than a share of you.
In a later Rule on spending your money I’ll tell you to ask for equity, but that’s different – that’s you as a lender of money. The shoe is on the other bank account then, so different rules apply.
There is a misconception that having total control ...
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