Private Business

How Big Should a Board of Directors Be?

How many Directors should your Board have? Nine. Ok. It depends. Here’s how to about it: The logic of Governance Board size For most organizations three to four is likely too small. A Board’s role is to provide oversight of risk, strategy and CEO performance. Doing a good job likely means a range of expertise [...]

By |February 25th, 2018|Governance, Private Business|0 Comments

Top Four Governance Findings from Board Assessments

Here are four of the most common findings from our Board governance assessments over the past ten years: Directors don’t share a common understanding of the Board’ role. A critical step in every governance assessment is the Director interview. In that interview we ask each Director what their understanding of the Board’s role is. We [...]

By |February 11th, 2018|Association Management, Governance, Private Business|0 Comments

Details of a Boardroom Metrics Governance Assessment

When we are engaged by a Private Company, Association or NFP Board of Directors to conduct a Governance Audit, this is the approach we use to help the Board identify governance opportunities and risks: Objectives of the Board Governance Assessment to assess current governance structure and processes to recommend the most beneficial ways to improve [...]

By |February 2nd, 2018|Association Management, Governance, Private Business|0 Comments

Should Your Industry Association Have a Competency-Based Board?

Association Director Experience vs Expertise Competency based Boards engage Directors based on their specific knowledge and expertise. Traditionally, industry association Boards have engaged Directors based on their seniority, industry experience, and even location. Which is better? On competency-based Boards, the expertise of the Directors mirrors the challenges and opportunities that the association and its members [...]

By |November 1st, 2017|Family Business, Governance, Private Business|0 Comments

4 Steps to Better Private Business Strategy

“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 [...]

By |August 17th, 2017|Private Business|0 Comments

Think he’s crazy? Donald Trump is just your typical entrepreneur.

  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 [...]

What Private Companies Can Learn About Board Structure from Public Companies

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 [...]

By |May 3rd, 2017|Family Business, Governance, Private Business|0 Comments

Four Factors Separating Strong Boards from Failed Boards

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 [...]