Once the real estate site is finalized and the use of the property is developed through the necessary schematics and blueprints, the next phase will involve raising the capital necessary to proceed with the plan. There are several ways to raise capital but since we are organized as a LLC, the best alternative will most likely be a commercial loan. There is also the opportunity to find a private investor, or group of investors, that might be interested in making an investment.
Since the management team will be comprised of a three way partnership, major decision will be made among the group and 2/3 majority must agree to pursue and decision in the organization. This format will serve the group well and allow decisions to be made quickly. There should also be an option for the non-agreeing member to challenge the majority in case they feel that a big mistake is being...
This will simply require a presentation of the key facts and the logical manner in which the decision is being made to the third party. Although this might slow decision making, this pause may keep the majority from making a mistake although the 2/3 approval will still rule in the end.
This team will make decisions about the organizational structure, human resource functions, what associations to join, and decisions about who to lease the retail spaces to. Given that the management team is relatively small, there should also be some external consultants that are identified to be used in certain situations. For example, marketing the business should most likely be pursed with the help of an external firm. Furthermore, the executive management team will also be responsible for hiring divisional managers that can oversee different operations like the golf course for example.
