Liquidity readiness

Founder liquidity checklist: prepare before the window opens.

Before the event

• Confirm share class, ownership, vesting, and transfer restrictions.
• Build a personal balance sheet that separates liquid assets from company value.
• Choose a minimum cash reserve and a maximum single-company exposure target.
• Draft an investment policy for proceeds before cash arrives.
• Coordinate with company counsel, personal counsel, CPA, and board-approved processes.

After the event

• Do not immediately replace company concentration with a concentrated alternative bet.
• Set a process for family requests and charitable commitments.
• Update estate documents, insurance, and account ownership.
• Decide how the remaining founder stake should be monitored.

For deeper context, read founder stock planning and secondary sale planning.