Many closely held companies don’t have a functioning board at all. Investor-backed private companies usually have boards, but many are dysfunctional, neither helping management perform at higher levels nor managing risk.
For company founders and sitting CEOs, the decision to pass the CEO seat to another is a big, risky decision. This article talks about how critical boards are– especially for closely held companies.
Here is the fundamental choice for owners of closely held companies:
Ceil McCloy, CEO and her husband Dave Dobson, Co-Founder of Integrated Science Solutions, Inc. (ISSI), brought in outside board members as a strategic decision. Often businesses pay only lip service to their Board, just barely fulfilling legal requirements. But bolstering the Board’s role in oversight of your business can be very beneficial, as it has for ISSI.
Too many entrepreneurs focus on the controllable risks, figuring that’s all they can manage. But John Keagy, CEO of ServePath, shows us how to focus on creating value while factoring in the uncontrollable risk: market acceptance.
CEO Jodi Andrews and her co-founder and President Inger Arum of ProTrials got a great offer from a big client, enough to make any business owner happy. They turned down the opportunity. Not all that glitters is gold, and some factors that override financial success.
Leaping ahead in the business world takes more than courage. Learn how one business leader – Mark Denham of 247 Workspace – came up with a new game plan.
It takes time to build relationships and hold face-to-face meetings. Learn how you can build strong client bonds by playing to your strengths, from the experiences of Bob Klotz, CEO of Bayside Solutions, a staffing firm.
Your business can use speed and agility to leverage a competitive advantage. Here’s how Lou Parrague of Capture Technologies used just these tactics to lock up a deal.
Robert Sher is founding principal of CEO to CEO, a consulting firm of former chief executives that improves the leadership infrastructure of midsized companies seeking to accelerate their performance. He was chief executive of Bentley Publishing Group from 1984 to 2006 and steered the firm to become a leading player in its industry (decorative art publishing).