In the digital era, the number of business opportunities available today has grown experientially. Including the challenges of running your business both successfully and profitably. Despite their best efforts, companies sometimes end up taking the wrong decisions. One such mistake is not having a board of directors who serve the company’s best interests as it evolves.
A Good Board of Directors equals Good Business
Fear often restricts the existence of a Board of Directors. Some of the reasons are:
- Dilution of authority (for the CEO / founder/business owner)
- Interference (in business decision-making)
- Time-consuming & costly (cannot compute/justify ROIs)
With the right type of board and the correct professionals involved, these fears can be put to rest.
What is a Board of Directors?
The Board of Directors are a group of individuals within your company. They are either appointed or elected as representatives to oversee organisational strategies, capital investments, dividend/profit share policies and financial accuracy.
What Value Do They Add?
- Skills & Expertise
- Corporate Governance
- Independence & Accountability
- Strategic Direction
- Credibility & Legitimacy
What kind of Board does your Company need?
- It depends on the size of your company and its pathway to evolution.
- There are two kinds of boards. An advisory board and a fully mandated board.
How do I go about finding out more?
If you are wishing to grow your business in a manner that is reflective of your vision and appreciate that one person cannot be all things to all people and understand that surrendering your “fears” will enable the business to flourish.
How we can help
Michelle Mac was mentored by Eric Livingstone of Livingstone Board Solutions.
Livingstone Board Solutions worked alongside businesses and not-for-profits in the development of a board. They serve all stakeholders in a stepped manner. With tangible references throughout the process of establishment and sustainability for many decades under Eric Livingstone’s directorship until his retirement.
Under the Good Governance umbrella, we provide a suite of documents that cover most of the matters that a board will need to know. It is important to know how to become an effective and fully functioning board that serves either the company, be it large or small.
Our suite of documents is also supported by board development and coaching programme tailored to the organisation’s needs.
Only too often, members are chosen because of their management skills or specialist knowledge that they bring to the boardroom table. But this does not necessarily mean they know how to govern effectively. When using the services of Michelle Mac under a good governance mindset, they are able to provide tailored in-house training and extensive mentoring designed to support the development of board members, full boards, board funders and board advisors about best practice governance.
“Evidence of good governance has massive value when it comes to raising money or selling your business. It demonstrates to investors or buyers that the business is well run and that it’s ‘clean’.”
Phil McCaw — New Zealand Business Performance Panel
Our documents and support training can be purchased, either on a need-requires basis or, in blocks of relevant documents. This is so that the organisation has both a digital and hard copy that forms the basis of good governance, combined with personalised support coaching for board excellence.
Contact us today!
Contact Michelle to discuss your needs in how to set up a business with good governance and future-proof your business with another robust internal structure for your business. Click here.
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