“Strategy is a waste of time”. Lots of private business owners we know feel this way because their private business has achieved a high degree of success without strategy. Why should they start now? Here’s why: Because too many private companies get stalled at the natural level of success that’s possible by spotting a market [...]
Flickr Image by DonkeyHotey Forget Shark Tank. For anyone who fancies themselves as a future entrepreneurial star, studying Donald Trump (just watch the nightly news) may be all you need to learn about entrepreneurial success. Here’s why. Almost every 'successful' (valuable business leading to personal gratification) entrepreneur we’ve known over the past [...]
Private Company Boards are Smaller and Less Independent Statistics show that private company Boards are smaller and less independent than public company Boards. This matters. The rationale that leads public company Boards to be larger and more independent also applies to private company governance. 1. Board independence. Private company boards are overwhelmingly composed of related [...]
Failed Boards are more common than people realize. Failed Boards are much more common than most people realize. Charged with the responsibility of identifying and mitigating risk; validating and overseeing strategy; and, hiring and performance managing the CEO, most organizational failures are the responsibility of the Board. From Enron to Volkswagen, Boards full of smart [...]
Expanding the Role of the Private Company Board Most private companies report having a Board of Directors. Typically, the role of these private company Boards is for the owners to meet and make decisions about the business – frequently financial decisions. Although these owner meetings are important, there are other elements of a Board’s governance [...]
Recommendations Start with why - defining the reason for your private company Board will help you understand how governance can be improved. There are three reasons that private businesses have Boards: business advice business oversight make owner decisions How to think about each. There are many ways to get advice that don't require having a Board. [...]
Boardroom Metrics provides corporate governance and strategy consulting to Public, Private and Not-For-Profit organizations in the United States and Canada. The five best tips to make Board strategic planning more effective. A Board has three roles: identifying and mitigating risk, validating and overseeing the strategic plan and performance managing the CEO. Regarding the strategic plan, [...]
For many organizations, outsourcing RFP response writing to a professional RFP writer saves time, significantly improves quality and leads to higher win rates. There are actually some people in the world who love the challenge of responding to an RFP. They’re organized, good with details, strong writers, expert researchers and ok working to a tight [...]