Board of Directors

How to Build a Board (and Keep it from Running Away with your Business)

How to Build a Board (and Keep it from Running Away with your Business)

A board of directors is often promoted as a critical tool for growing family businesses—and rightly so. A well-constructed board can bring new thinking and perspective, better deliberation, along with expertise and experience that the business needs to grow and achieve its vision of success.

But boards are not a magic elixir, either. when the owners fail to communicate their vision—their direction—for the future of the business, there is a real possibility that the board’s well-intentioned efforts will veer off course, destroying capital the family has worked for years to create.