“Why Would I Want a Board?” Real World Considerations on the Path to Effective Governance
Many families leading thriving businesses at some point wonder about whether a Board of Directors would be valuable for their growth or a waste of time and energy. A business leader may want strong systems of accountability in place before the next generation of leadership takes the helm. Siblings may find kitchen table-style discussions are no longer working. Or an ownership group or management team may see a need for new vision, strategy and ideas to take the business to the next level.
In this webinar, our panel will share their experiences with businesses contemplating creating a board, speak to the most common reasons and benefits behind the decision, and provide guidance on laying the groundwork for success.
Who should attend:
Family and Non-Family leaders in businesses that do not yet have a functioning Board of Directors or are just beginning the process of forming a Board,
Next generation successors who are curious about how a Board might help them succeed,
Advisors (attorneys, estate planners, financial advisors, etc.) that work with businesses that do not yet have governance systems in place,
Potential or current independent directors to family Boards who want to learn more about the unique benefits and challenges of Directors in family enterprises.
What will you learn?
A Board of Directors can be a meaningful asset for your business – if the business is ready. In this session, our panel will share case studies and perspective from their experiences with family businesses to demonstrate:
The research-validated benefits of effective Boards on company success and longevity,
Specific benefits of Boards in succession planning and times of leadership transition,
How to determine the right time for your business to create a Board of Directors,
The critical to-dos before beginning a Board process, and
Common reasons that businesses avoid a Board, and how to work through them.
Webinar Recording: View video here
You can also access hundreds of in-depth articles written by our team that address the unique challenges faced by family enterprises from communication and conflict to succession and continuity. Visit our Article Library.
The Family Constitution: A Foundation for Family Alignment
Gain useful ideas to effectively create and use family constitutions as a foundational piece for your governance efforts.
Forming an Effective Family Business Board: Advisory vs. Fiduciary
Understand ways that advisory and fiduciary boards function to enhance decision making and business performance in a family enterprise.
What’s the Next Step for Your Board?
We can help. Appropriate and effective governance is the hallmark of a truly sustainable family enterprise. For over 25 years, The Family Business Consulting Group has helped clients develop engaged and focused boards that contribute to strong strategic planning and productive family working relationships. Our consultants can guide your family through the process of evaluating your needs, planning changes to the governance structure, and ensuring that the board you build provides the value you seek.
To learn more about our board services, download our brochure, contact us at firstname.lastname@example.org or call 773-604-5005.