Try to order these common stock characteristics from $1$ to $5$ with one being the least important and five being the most.

$$ Liquidation preference

$$ Dividends

$$ Voting

$$ Term

$$ Par value

Obviously, they are all important but how did you decide what was first? What was last? Many investors believe common stock is too volatile $$ what do you think? Should there be something beside common stock offered to investors $($don$$t say preferred $).$ Think creatively.