Submit promptly a board package for board approval

The key to obtaining board approval is honesty, cooperation, good attitude and civility. Just resign yourself to giving the board what it wants. Make sure the financial information is complete and accurate. The board will total up the various assets you present by adding up the balances on all of your financial statements. They will calculate the value of all of your investments and holdings, as well as your liabilities. What they come up with should match the totals on the income and net worth statement your accountant provides. There should not be contradictions among the numbers on your tax returns, accounting statements, mortgage application and credit report. Everything should jibe and the board is going to determine whether it does or not. Don’t inflate income or assets, or hide debt or obligations. Be above board on it all.

When you go to the interview be courteous and sincere. Don't be combative, arrogant or evasive. They can turn you down for any reason, including having an offensive personality. They don’t want a "brillo pad" as a neighbor. The key: be yourself, be open and friendly, have a measure of confidence and keep your answers relatively short and on point.

Most boards want to approve new shareholders. Have or develop a sense of cooperation, humor and patience about the process, and the odds are very high you will be approved.

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