A conversation with Scherrie L. Prince, attorney and founder strategist specialising in ownership, governance, succession, and exit planning. Most founders are wired for growth — traction, revenue, momentum. What gets ignored is structure: who owns what, who makes decisions, what happens when things change. Those decisions don't break a business immediately. They sit quietly in the background until the business is tested. In this episode, Collins Victory Odabi sits down with Scherrie to understand why structural decisions feel optional early on but prove foundational later, what founders consistently get wrong before bringing in partners or capital, and what the first structural move every entrepreneur should make actually is. What You'll Learn Founders don't ignore structure deliberately — they prioritise what feels urgent. Cash flow, customers, inventory. Most people who start businesses have never been to business school, and without that foundation, they don't know what's missing until it becomes a problem. The issue isn't neglect. It's timing. Growth doesn't create structural weaknesses — it exposes existing ones. Scherrie uses the analogy of planting in soil: whatever was already in the ground determines what grows. Leadership gaps, funding gaps, internal threats from employees, lack of governance documentation — none of these are new problems. Growth simply makes them impossible to ignore. Build your money team before you need it. A competent insurance agent, a banker you actually have a relationship with, a financial advisor, and — critically — both a tax preparer and a tax planner. Most entrepreneurs only have one and assume they're the same. They are not. When an investor comes in or an audit happens, your paperwork either holds up or it doesn't. The cost of inaction is more dangerous than the cost of investment. Scherrie introduces the COI framework — cost of inaction — to counter the common founder instinct to save money by doing everything themselves. The $50,000 hire you delay may be the reason the business stays flat. The founder who steps back to grow the business outperforms the one who stays inside it. Start with your personal umbrella — a trust, not a will. Scherrie's first recommendation for every entrepreneur is a trust. It's private, continuous, less vulnerable to legal challenge, and the foundation under which every other asset gets organised. Without it, even a well-structured business creates chaos for families when a founder exits or passes on. Bring your family to the table while you're still building. They don't have to follow in your footsteps. But they should understand what you built, how it's structured, and what continuity looks like — because legacy, as Scherrie frames it, is not just inheritance. It's the plan behind the plan. About Scherrie L. Prince Attorney and founder strategist working with entrepreneurs and closely held companies on ownership, governance, succession, and exit planning. She integrates business design with estate and transition planning — helping founders build businesses that hold together through growth, conflict, ownership changes, and eventual exits. 🔗LinkedIn: Scherrie L. Prince Timestamps [0:00] Introduction and episode framing [2:22] Scherrie's story — from a farm to law school to founder strategy [4:16] Why founders overlook ownership and governance decisions early on [6:15] Why growth amplifies existing weaknesses rather than creating new ones [8:38] Common mistakes before bringing in partners or capital [13:43] How to design a business that preserves control as it scales [16:54] The structural elements that determine whether a business holds under pressure [19:17] The first structural decision every founder should revisit immediately [21:03] Final thoughts — bringing your family into the planning Connect with Collins X: @0xOVCollins | LinkedIn: Collins Odabi Guest enquiries: collinsodabi@gmail.com Until next time, stay sharp, and keep showing up.