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The 4 pillars of business structure

Ownership, governance, operations and finance — the four things every serious venture has to settle early.

1. Ownership

Who owns what, on paper, in what proportion, and what happens when someone leaves.

2. Governance

How decisions get made and who is accountable for them. A board, an advisory circle, or simply a written decision rule.

3. Operations

The repeatable way work gets done, so quality does not depend on who is in the room.

4. Finance

Separate accounts, honest books, and a picture of the numbers you can read in five minutes.

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