The five investors who bought AutoData Systems take a long-term, patient approach to building a business, which may surprise some because they’re hedge fund managers and other investment types.

That matches CEO Charlie Lehmann’s philosophy as well, who cites Warren Buffett and his penchant for value investing as a role model. Lehmann knows the lead investor, Matt Paschke of Leuthold Weeden Capital Management, very well, because they became acquainted when Lehmann was in high school through a Christian youth program.

“We’re very focused on cash flow,” Paschke says, because the investors aren’t big fans of cash calls. “We want a return, but it doesn’t have to be fast or huge.”

Determining the values of your shareholders is a crucial task for any CEO, especially one who doesn’t hold a majority stake in a closely firm. But the Upsize Growth Challenge experts advise that’s an ongoing exercise—the subtleties of the stakeholders’ wishes are revealed over time, and more importantly, they change.

Dean Willer, attorney at Winthrop & Weinstine, says the different ages of shareholders will play a role. “Are they in the same investment philosophy as you? If they’re older they don’t have as long a time horizon,” he says. Lehmann is still in his 20s, so such age gaps will continue to be an issue.

Bridget Manahan, executive vice president at Western Bank, urges formal, regular discussions with the shareholders, preferably via a formal board structure. That’s especially important for Lehmann because he is charged with developing a new strategy for the company, “Overall there needs to be a commitment to the plan,” she says.

When was the last time you worked on buy-in at your company, all the way to the top? Is it time to re-start those crucial discussions?