As a business owner, it’s vital to the long term success of your business that you have a high impact board. To provide constant input on strategic aspects of your business. There is a variety of issues that can take your business from success to failure and having the right people in the right positions can help ensure that those problems are resolved before they have time to do their damage. However, it’s important to remember that you need to be constantly evaluating the board members as such and the way your Board operates. Here’s a look at how and why that’s so important.
First of all, your board review needs to be comprehensive. Businesses are results oriented and there are a multitude of moving parts that have to work together to produce those results. Those moving parts start at the top and work their way down. From you as the owner your board should be the key group of people keeping you focused on the main strategic issues. Like management, down to the employees, everyone and everything should be constantly evaluated. As an owner, your board serves to evaluate you to a certain degree, but it’s up to you to do a comprehensive review of your board. Focus not only on ensuring that board bylaws are being met, ensure that you are always focused on the critical issues and that your management team appreciates the input the board provides.
As a business owner, you may not have time to set down and evaluate every step of your board process while continuing to fulfill your responsibilities to your shareholders. It’s highly advised that you bring in a professional to evaluate your board and fill your advisory board with the best choices. Board assessment specialists are trained in interviewing and evaluating in a way that will ensure that they get the right men and women in position to push your business to the next level.